trjammu
September 27, 2021, 3:49pm
1
Hello,
Leased a Volvo XC60 3 months back and want to get rid of it now( Work situation changed).
Vroom offer is good and I only 2k. Can Vroom buy it by paying off Volvo Financial directly?
Do I need to pay sales tax do a buyout and thens sell it to Vroom?
Thanks,
ST
mllcb42
September 27, 2021, 3:50pm
2
You will need to purchase it yourself before selling it.
Since you’re in CA, there is a path to avoiding paying sales tax if you’re purchasing for immediate resale.
I recently went through a third-party lease buyout in California. I often see the question on how this is done so I wrote a quick document of my experience:
I think the main one I hear is how to avoid paying sales tax twice when selling to a private party. This can be avoided (in CA) by (a) selling you lease within 10 days of acquiring the title from the lessor (b) applying and being approved for a CDTFA-111 from the CDTFA.
Note, if you sell to a dealer, the leasing company transfer the ti…
I think what @Charlieo is saying that after you bought the lease, you own the car as the lessor sent you a lessor released title.
1 Like
Ursus
Closed
September 27, 2021, 3:50pm
3
Search. Volvo buyouts have been discussed many times.