I financed my lease buyout for my Acura so I can sell the car to third party. AHFC sent me the title and bill of sale. My credit union needs me to get the title transferred in my name in 90 days but my intent is to sell the car to a third party site. Is there anyway to skip the sales tax since I am not technically buying the car. Or am I doing something illegal and I just go ahead and eat the tax?
The “buy” in buyout means you already bought the car.
You can’t go unbuy it now and then sell it.
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You are technically buying the car
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Short Answer : No
Longer Answer: That only works in CA, and you are in Louisiana
Proper Answer : Why not sell it direct to Acura? That way you don’t have to play the LA 2 Step.
Cause they are undercutting the price by 4000+ compared to the other buyers. Even if I pay taxes I will still do better than sell to Acura. Also I already bought out the lease and have the title and bill of sale in my hand. So I guess that ship has sailed
Well $4000 is definitely changes things.
Enjoy your equity!
I don’t know about LA, but in MD you get credit for the sales tax paid at time of leasing. We pay all sales tax upfront as part of the lease. If the original Lessee buys the car, they don’t have to pay sales tax for it again.
Or you live in TX where you pay BOTH times…yikes
Gobble gobble, sir.
Montana LLC 
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Unless you live in CA, or your name is Hunter Biden, you have to pay the taxes. Sorry
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All sunshine and rainbows until you live in a state 1000+ miles away and get into an accident. The insurance companies know this loophole, and can basically verify that the car was never in Montana and where it was actually kept. Someone on the car forums I am on had this happen on a Ferrari 488. Insurance denied the claim. Yeah, he saved probably $20K or so in taxes, but his bill now is much larger than $20K, let alone diminished value as well.
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Or the state you’re in prosecutes you for felony tax evasion.
I’d take the insurance denial over that personally.
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It’s a trifecta of tax fraud, insurance fraud, and interstate commerce fraud!
Im sure we could get some bank fraud mixed in if we try
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And because it involves multiple states its a federal offense as well regarding any and all charges.
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I never said it was a good idea. lol. OP wanted a way to avoid so yeah
It’s the “45” crime strategy.
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