Want to either buy my lease out or trade it in. I live in Texas. Is it true that I will have to pay sales taxes again whether I buy it our trade it in? I got my lease payoff and they include taxes. Is that tax still there if I trade it in to a dealer?
If you trade the car in on another at the dealer then no, you do not have to pay sales tax. But if you buy out your lease then yes, you pay sales tax on the residual value because you are purchasing the car from the lender. Therefore it is looked at as a sale. I’m in Texas as well.
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Thanks.
Also if you’re familiar with US Bank, is it true the dealer payoffs are higher than what they charge me for payoff?
Guess I will be hosed either way trading in a 2019 Porsche Panamera in this economy. Ugh.
You’ll def get hosed so why not keep it for some time
I’m assuming you still have X months left on a lease of a 2019 model
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Texas really hoses you, tax the full price on the lease and if you decide to buy it they nail you again on the residual? That seems like double taxing, f that. Just turn it in and find something with tax credits next go around.
I just signed a lease on a 2020 X5 in Texas…tax credits 
Got a 2020 330i XDrive MSport I’m looking to lease transfer whenever I can. Only 1400 miles on the odo.
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Just keep both and get rid of the other cars! 
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What does this have to do with the OP’s question?
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Referencing @joeblogs “Texas really hoses you, tax the full price on the lease and if you decide to buy it they nail you again on the residual? That seems like double taxing, f that. Just turn it in and find something with tax credits next go around.”