Hi all,
I think I might have made a $2500 mistake… I bought out my lease while living in NJ with my vehicle registered in NJ and paid the tax to the NJ DMV ($2500) on the remainder of the balance ($28,500) of the lease value. I never looked too hard at the paperwork US Bank sent out other than the fact that the title was present and it was signed over to me. It was at this point that I should have taken that title to the NJ DMV and registered it in my own name. I did not do this because I’m dumb.
Fast forward a few months and a job opportunity presented itself in NY so I quickly packed up and moved. Without really thinking about it, I went and transferred my NJ drivers license to NY. I then decided I should get NY plates for my truck and imagine my surprise when the NY DMV told me that because I had never registered the vehicle in NJ and retitled it in my own name, I would have to pay NY sales tax on the truck ($2500) if I wanted to register it in NY. I quickly panicked and left the DMV without registering the vehicle.
My question is… can I sell it or trade it in without registering it in my name (and avoiding paying the tax twice) with just the title signed over to me? I’d be open to going back to NJ to trade it in if that made it easier. I also understand I may need to just suck it up and pay the NY DMV the $2500 but I figured I’d check with my fellow hackrs before I wrote that check…
Thank you in advance!
