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Even if you don't want to buy out your lease, buy it out anyway and then sell the car to your dealer (or another dealer). Check the numbers first of course, but
by bonestamp2 5y ago
Even if you don't want to buy out your lease, buy it out anyway and then sell the car to your dealer (or another dealer). Check the numbers first of course, but you'll likely pocket several thousand dollars.
- joezydeco 5y agoIn certain states you will owe the sales tax on the entire residual amount. This tax is skipped when you let the dealer assume the buyout. But in the past 6-12 months some banks are adding massive amounts to the buyout price when the owner isn't the one making the purchase. When you read the fine print, the residual value only applies to the owner. The bank can charge whatever it wants to everyone else, or deny the purchase altogether.