Buyout to sell at lease end and avoiding taxes in NY

Is there a way to avoid getting double taxed (both me and the party I’m selling to) when you buy out a vehicle at lease end with the intent to sell to another party? Can I transfer it to them prior to lease end with a payment for whatever excess equity we agree on?

Transferring the lease and then them buying it out would mitigate taxes, but only some banks allow transfers. Otherwise, no.


Yes, are they your child and live with you at the same address? Otherwise, no

No, lease is up in 6 months and haven’t pursued a buyer yet

6 Months? Start doing the Online Carmax, Carvana, Vroom to even see if there is any equity.
It gives you something to fight local dealers with instead of going the 3rd party route and paying double tax. (Unless it’s a Volvo, then you are REALLY limited)

If no equity…well you might want to abandon the idea someone will buy it for more than your RV.

Depends on which bank or captive lender so which one is it?

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Ton of equity
Max g, it’s Chase

Chase does not allow transfers. Same with Chase for Land Rover, Maserati, Subaru, etc

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