I have a lease that ends in November. We have two other cars and our oldest kid goes off to college this week, so I’m exploring options because I’d like to get back down to two cars ASAP.
We are unable to conduct third-party sales. Your leased vehicle may only be purchased by the original lessee(s) or by a dealer.
So... I haven’t solicited any offers yet but I’m curious if any of you dorks have used Carvana, Vroom, Carmax or other DEALERS to buy and immediately sell a leased car without paying taxes on the transaction.
If you have, please tell me about it. If you just want to talk about it, feel free like always.
Buy it yourself and sell it to your oldest kid.
In reply to iceracer :
Georgia car leases require full sales tax paid up front. If you purchase at the end, you get to pay sales taxes a second time. It’s total bullE36 M3. I’m not interested in that.
And the soon to be full time engineering student neither needs a car nor can afford one.
I dont get it. Why dont you just return it? Or you have some equity? The dealer will buy it from you.
Slippery said:I dont get it. Why dont you just return it? Or you have some equity? The dealer will buy it from you.
I can absolutely return / turn it back in, in November. I’d like to let somebody buy it for the payoff amount (sooner). But it says only “a dealer” can buy it.
I did find out that GA changed the lease “sales tax” law on Jan 1, 2018. No longer have to pay sales tax for full value of vehicle in a lease. Now it’s only in the amount being financed, which is actually sensible.
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