Hey all, I’m a newbie at all this and trying to learn quickly! My lease is over at the end of the month on my 2018 Sentra. My Residual id 13,600 and Carmax gave me an offer for 18,000. As excited as I am, I can’t sell my nissan to a third party through Nissan. I wanted to buy my car and flip it to Carmax once I get my title. I spoke to a lease guy today who said if I finance my car though, I won’t be able to sell it for a year. Is that true?
Also anyone have experience on how long it takes to get the title in NYC? Carmax said it takes like 2 weeks but I’m not sure.
Third anyway to get out of the sales tax? Probably too much to ask…
Lastly would I have to pay a capital gains tax on the profit?