Thanks for your warning. I don’t have much time and can’t afford not having a car any day. I will try to get separate deal & offer with the same dealership hoping all numbers make me happy. I don’t have to sell the car now (lease ends in April) and the craziness won’t go away soon.
Get the deal first, then sell the car, get a check, then put some down on a new deal. That’s it. Don’t let them comingle it
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I am with you. The same saleperson gave me 0.00275 MF for the new lease instead of 0.0015. No deal.
That’s why you split it, they can tell you it’s 0.000001 but when you sign paperwork its 0.01 but your trade in clouds the deal.
Yeah I am trying to deal with CA CDFTA first because lets be honest…getting the dealer to submit paperwork (that I am sure they are not familiar with doing) so that I can get money and they can get nothing is about a 0 chance. Christ they barely want to do a lease buyout for a 500 profit.
Edit: I’m dumb and forgot that I send the CDTFA-101-DMV in as well.
What do you mean by dealing with CDFTA first?
Put everything in writing and if you require a 10-day paperwork clause for the dealer, get them to sign it.
The issue is that supposedly I never paid the DMV. I paid Steven’s Creek Chevrolet and SCC paid the DMV, so only SCC can legally request the tax refund. The refund would be sent to them with the condition that they remit to me. I might as well go and try to bother the dealership to do it, but I doubt they’d go through the trouble. Maybe I can grease the wheels a bit with a portion of the proceeds…
Wow. this is exactly what happened to me in 2016. I gave up after going through what you went through…
Can’t believe they’re still doing this…
Another question: Is the equity you take from the lease taxable income? Technically it is but is it someway reported to IRS?
Yeah I have yet to give up but it is a slog. I talked to the imbecile “senior tax analyst” who sent me the letter detailing why they would not give me my money and when I questioned her to provide me the legal justification for such a legally farcical position, all she could say over and over was “that is how we do it” and “it has always been like that.” Just a mindless drone with absolutely no ability to justify WHY she is doing that. When I told her, so you concede the money is mine yet have no realistic mechanism to disgorge tax revenues you are holding and acknowledge are being held illegitimately and unless I can achieve the impossible by getting the dealer to intercede on my behalf you will just keep the money, I got nothing but silence on the phone.
So far attempts to get the dealer to assist have been pointless, mainly because they have no idea what or how to do this and as we all know, dealers do NOTHING for you if they don’t profit and even if they do profit most of the time they won’t do anything if they are even a little unfamiliar with it. The fight continues.
I am planning to use this 10 day tax exempt lease buyout and buying my leased car. I need to pay the sales tax and registration renewal (due in Feb) to the Nissan dealer who will handle the DMV.
If I go and resell the car after getting the title (6-8 weeks) is there a way to get the registration money back? Or some way to avoid/delay registration renewal?
In CA there are no refunds on registration. If you are not driving it while waiting to sell, you may be able to switch to a non-op registration
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I mailed the check and the paperwork to BMW financial on 1/18 and got the title today. BMW got the paperwork on the 21st and processed it with overnight shipping. Didn’t expect this quick of a turn around in California.
Though if you ‘re-op’ don’t they make you backpay the difference between non-op and full registration? Though I guess at that point, it’s the next owners problem.
You got the BMW released title or the title with your name on it from CA DMW? If the former, that has nothing to do with any state as that’s all in BMWFS’s hand.
California rules is if you Register it for driving, they assumed you drove it. Once you drove it, you will not get a refund.
ie If you pay, you aren’t getting back.
PS : If you let the Nissan dealer handle the sales tax, you are probably NOT getting that back as well. CA has been fighting those who don’t pay them direct and tell them, go to Nissan and get it back.
It’s a “Certificate of Title” from BMWFS. I’m assuming that’s all I need to transfer the car to someone else or am I missing something? I’m hoping to sell the car in 10 days and not pay any taxes.
@forbs Interesting. I did not know that. I asked dealership if it is necessary to pay the sale tax to them and I will like to handle it myself by going to DMV and they said that in CA the tax needs to be paid at the dealership. Do you know if this is the case or the sales rep was just making it up?
Are you listed as the owner or did BMWFS sign their title over to you?