CA lease buyout question

[m39]

My KIA lease is ending at the end of next month, but I’m looking to buy it out for $19395.03 (RV $17616.9 + Tax $1453.38) and selling it since it seems like it’s fetching about $23-24K in the used car market.

I’ve never done a buyout before, so I’m wondering who pays the DMV tax. Since I financed all of my fees for $0 DAS when first leasing the car, do I still have to pay taxes to the DMV after I buy it out, or is KIA Finance responsible for it? And is the tax on the RV number? I just want to make sure that the process is worth the potential profit I can make for me to move forward with doing this.

Any advice/feedback will be much appreciated!

[Kctham18]

Luckily for you, this has been discussed at length and CA is the only state with this exemption.

Will take some doing and you need to really understand the process. Also, Hyundai/Kia are notoriously slow on releasing and sending titles.

Good luck!

California 10 day tax exempt For lease buyout

Hi I have looked thoroughly here and this topic has not been discussed. In CA, you are allowed to payoff your leased car in order to resell it without paying taxes on the payoff IF you can sell it back and to a third party which would need to register the car within ten days of the original leasee recieving the title form the lessor company. BUT YOU HAVE TO MAKE SURE THE CAR IS TRANSFERED TO THE NEW ONWER WITHIN 10 days. Now is the tricky part. What if I payoff the car and sell it to s deal…