Legal Question in Credit and Debt Law in Texas
Taking a financed vehicle out of state
Is it illegal in the state of Texas to take a financed vehicle out of state and establish residency in the new state? What are the legal ramifications when this is done?
1 Answer from Attorneys
Re: Taking a financed vehicle out of state
Unless there is some contract clause to the contrary, generally, you can take your vehicle wherever you want. So long as you are not deliberately damaging the vehicle and lessening the financing party's secured property. The finance agreement is another party's interest in the collateral (e.g., the vehicle) that was used for you to obtain the money to pay for the vehicle. People buy new vehicles each and everyday and then drive that same vehicle across the country on vacations while those vehicles are under a finance agreement. If my law firm can assist you with this legal issue or any other legal matter, please contact my legal assistant Jennifer ([email protected]).