Do I pay taxes?

Ask the Hackrs Buy/Finance
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1

I have an Alfa Romero with 3 more lease payments. Local dealer ship is buying my car for $1000 and another dealership, 2 hours away is buying for $3000 more. The local dealership said I have to pay taxes on the difference. Is that true?

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2

You don’t pay taxes when selling a car. Who is the lease through?

3

ally financial

4

Good luck selling an Ally lease.

5

why do you say that?

6

Ally jacks up the price when it hears a dealer is doing the buyout

7

Not if dealer has a relationship. I think most is 1000 fee. Best check to confirm

8

You definitely don’t pay taxes if the dealer is actually buying out your car. Make sure the dealership understands you are selling them your car, not asking for a dealer assisted buyout. Or they are trying to hide a dealer fee in there as “tax”.
Also-as this is an Ally lease, make sure the dealer is either Ally certified or be prepared for a buyout wayyyyy different than your personal buyout (possible thousands of dollars more).

9

Thanks for the info.