Last post on Dec 02, 2013 at 5:48 PM
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#939 of 967 Re: I'm going to go way over my lease mileage [wonkau]
Feb 18, 2012 (4:58 pm)
As long as you don't return the vehicle at the end of the lease, you won't have to pay the mileage fee. You can trade it anywhere you want (essentially the dealer is buying out your lease) or you can buy it out yourself. I have seen some GM leases (assuming it's GMAC/Ally) that have more favorable buy-out terms if it's being bought-out by a GM dealer.
#940 of 967 Honda CR-V Lease End
Jun 13, 2012 (8:15 am)
Hi, My lease is up on my Honda and I want to buy it out. Mileage is well below what the lease allowed, very good shape, only about 20K miles on it. I've heard that Honda does not negotiate the residual value currently listed. Is this true, and can anybody offer some insights in negotiating my terms and payments?
#941 of 967 Re: Honda CR-V Lease End [alykat5911]
Jun 23, 2012 (9:53 am)
Coming in late here...
The residual is set in stone as it should be.
You can probably finance it through a local bank. If you have the dealer do this for you, you will be charged a fee. Just do this yourself!
#942 of 967 Does dealer pay tax on buyout
Sep 02, 2012 (10:39 pm)
I just recently had a Chrysler dealer do a payoff on my Rav 4 lease that had low miles on and quite a bit of equity (I know this is rare), I contacted Toyota and they said the dealer would have me sign buyout paperwork which they did but I'm concerned about the check Chrysler is cutting, it was for the exact amount of the car buyout but without tax, when I questioned this because I knew that I would have to pay tax if I bought it from Toyota they said that dealers are exempt from having to pay the tax. I can't get in touch with Toyota until after the holiday weekend but now I'm really questioning this. Does anyone know if a dealer has to pay tax on a lease buyout just like I would if I would have bought it? NY resident.
#943 of 967 Re: Does dealer pay tax on buyout [jenkay1]
Sep 03, 2012 (6:17 am)
Since the dealer is buying it out, they would not pay sales tax.
#944 of 967 Re: Does dealer pay tax on buyout [sebring95]
Sep 03, 2012 (7:06 am)
#945 of 967 dealer pass-through
Sep 10, 2012 (11:04 am)
I understand in some states there is dealer pass-through when you want to sell a car privately but recoup sales tax paid against the purchase of a new car. Is this true in CT? I am trying to get out of a lease, and I can sell my leased car (leased through Toyota) for about $3k more than the dealer is offering; however, I would have to pay$1700 in sales tax based on the current balance owed. It seems crazy to me (although I understadn the mechanics behind it) to pay $1700 in tax for a car that will be immediately passed to a new owner.
If I can sell it privately and NOT pay tax, I would be close to what I owe, so the thought of eating $1700 is tough to swallow - although I understand I would have swalloed that had I purchased the car originally. Thanks for any help!
#947 of 967 Lease buyout - who will loan on residual
Apr 19, 2013 (4:25 am)
Our lease is up in July & our residual for our 2010 exl is 15,525. We've had some late payments with Honda so they've told us they will not be able to provide a loan for the lease buyout.
The KBB value is well over the residual & it feels like they'd rather get the car back & resale & make the profit. Any idea who to apply for a loan with for this situation? Our score is approx 630. We live in CA. Let me know if you have additional questions.
#948 of 967 Re: Lease buyout - who will loan on residual [mrsuribe]
by kyfdx@Edmunds HOST
Apr 19, 2013 (2:32 pm)
Try your local bank or credit union..