You can read through this entire thread to see how to sell the car to a dealer.
There is no use tax if transfer is between family members. Check the below link
Title Transfers and Changes - California DMV.
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- Call Chevy and ask them for a payout
- Apply for a used car loan from Lightstream / PenFed for both YOU and your daughter.
- After you buy the car and get title, you can add your daughters name to the title. Children are not counted for double tax.
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Requesting Refund for Tax Paid to DMV (CALIFORNIA)
I know this is basically like beating the dead dog here but in light of the lessorsâ marking up third party buyouts (be it to sell to carvana, your neighborâs dog or your paperboy), has anyone explored the possibility of the following:
- Purchasing first party + paying the sales tax, geting the titlel;.
- Reselling to Carvana/Vroom within the 10 days âexemptionâ
- Claiming back the sales tax paid to Bank (via DMV https://cdtfa.ca.gov/formspubs/cdtfa101dmv.pdf)
Iâve asked US Bank to waive the sales tax and i waved the 10-day rule to them but i dont expect their bureaucracy to be helpful at all. This may be a moonshot, but could create a backdoor pathway for us to get the sales tax money back. Since there is the 10-day exemption, banks collecting tax from those of us reselling the vehicle within the 10 days exemption is considered an overpayment.
Good luck! Getting any cash out of DMV is like pulling teeth.
You arenât getting anything from DMV. The refund comes directly from CDTFA.
Same thing DMV = California Government, CDTFA = California Government.
They are going to not want to give money away.
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Agreed that California is money thirsty vampires when it comes to taxes but in keeping to topic, Iâve actually had fairly good luck getting refunded on overpaid tax payments (non-car lease/use tax) and they even add interest payment to it⌠I happen to consider this as an âoverpaymentâ because the angle here is that, since US Bank is collecting taxes on a transaction that I do not legally need to pay, I can request a refund on this once they remit the tax pay ment to the CDFTA.
I currently owe exactly almost $40k on the lease above + $3k of taxes but Iâm getting offers of 46-48k range and knowing that the title transfer process can take 3-4 weeks, I think its worth rolling the dice a bit to pay the car off, get the title, and then sell it within 10 days, hopefully to get myself qualified for the tax exemption.
Knowing that the law spells it out in black and white that the end user should not be selling sales tax when a bought-out-lease is sold within 10 days, I feel that given enough due diligence/documentation, there could be a chance of getting refunded.
But before volunteering myself as a guinea pig i was just curious if anyone went this way before; if not I dont mind being the first 
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Following you as I am on the same boat with Fusion Auto and Credit Union. Their third party buy out quote is whopping $30800 for my 2018 JGC Limited 26K miles when my own buy out is $21K ish.
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Has anyone here tried the âMaximize Valueâ option from https://client.mycarauction.com instead of the Cash Offer option?
Hereâs what it says on their site:
âThe âMaximize Valueâ option is a way for you to list your car on our platform for free to see if we can get you more money than the âSell Nowâ offer. We expose your car to thousands of prospective buyers for free to see if we can get you a higher price. While we cannot guarantee you get more money we do our best to get you the highest price possible. This option takes 3-5 business days to complete. After the inspection you keep driving the car and we do the work. THERE IS ABSOLUTELY NO OBLIGATION TO SELL. If we do not get you a price that is acceptable to you then you do not need to sell and YOU DO NOT OWE US ANYTHING period!
Experience of someone who did private sale within 10 days.
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Has anyone in California actually bought out their lease from the Dealer paying SALES TAX, Doc-Fee, License & Fees, sold the car within 10 days and then recouped the sales tax & fees? Iâve read all the threads where the idea is discussed but nothing is mentioned about someone actually doing it.
Backstory:
I have an Infiniti QX60 that has about $2500 equity in it. Car Trackers is willing beat a CarMax offer to buy the car from me once I make the purchase from the Infiniti Dealer (you canât purchase directly from IFS.) Car Trackers say that so long as I can get a âlien release EMAILâ from the dealer, they can pay me and pick up the car. Theyâll then deal with the title transfer from the DMV. (This is a little unclear to me as I was under the impression that the âLessor released titleâ would get sent to me.)
To buy out the lease from Infiniti (itâs past maturity) I have to pay them sales tax, a Doc Fee of $85, License and Fees of $414 (I think this includes a new registration.) They are charging a $75 buy fee on top of my $300 purchase option which seems fair.
The issue here is if I sell the car to Car Trackers, how do I get the Sales Tax and DMV fee $$ back?
I called the California Department of Tax and Fee Administration (CDTFA) to get an answer. While it was a challenge trying to understand the guy on the phone (heavily accented) this is what I understand from the conversation. Once I sell the car to Car Trackers, I would need to go BACK TO THE DEALER to show them my proof of sale (possible including a âGeneral Resale Certificateâ from from the CDTFA website) and I would then need to RELY ON THE DEALER to file a claim for the refund and pay me back. This seems highly suspect to me and I have no faith that a Dealer would even want to get involved in this with no upside for them. And while itâs clear that I could try to recoup sales tax, it wasnât very clear if the DMV fees could be returned.
If anyone in CA has gone through this process can you please share how you were able to succeed or fail in recouping the Sales Tax, etc.?
Many thanks!
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In the same situation as you, Nissan must go to dealer to buy out my leased Sentra. I guess they with collect all the sales tax plus some other fees.
So I sold my car to mycarauction but havenât got the title yet froM GM financials.
However mycarauction gave me full check and I was able to cash out the money.
Now the question is should I give them my car or wait for the title to come?
If I give the car to them who is liable from here onwards? Me or mycarauction ?
Do I still need to keep my insurance while I get the title?
Your help would be appreciated. Thanks!
I gave them the car once the payment were deposited into my MBFS account. I believe carauction will get the title from bank as thatâs what they requested. I filled the dmv notice of transfer and release of liability just after they picked the car and cancelled the insurance. You can call carauction and/or GM to clarify who will receive the title.
Hi guys - I just did a deal to buy out my 2020 VW Tiguan lease which netted me $4k of positive in my bank account. Others have spotted that many manufacturers offer higher buy out rates to Carvana etc. That was my experience. However I stumbled across a professional vehicle buyer in Socal who can broker deals through franchised dealers so that:
- You get out of your lease (they buy it out) themselves.
- You get top dollar (around Carvana offers) with any positive equity paid to you in cash!
- No sales tax to pay!
After a lot of reading and worrying about paperwork/sales tax I couldnât be happier. Iâm happy to pass on his details to anyone who wants to DM me.
Thanks!
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So has anyo e had any good results from this? Wa ting to buy out my car from US Bank.
Hey, I am trying to sell my leased Audi car to carauction. Wondering If I need to worry about transferring the title to my name and transfer it to carauction? Also do you need to do any paper work for title transfer?
Audi will prevent it by jacking the price up
Yes, I did. The whole process with carauction is much faster and straightforward compared to any other online dealers. Additionally they donât pick up the car until you confirm that the payment has been posted in your lease account. While vroom and Carvana gave me runarounds for a week, carauction bought the car within a day.
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