Hello everyone, thanks for adding me to this forum. I’ve already learned a lot.
My wife and I live in Michigan. My wife’s parents live in Massachusetts and are at the end of their Ford Edge lease within the next month. They don’t want the vehicle, so my wife and I would like to purchase it (cash) and register it in Michigan since we need a vehicle and the price is great.
The questions are:
What is the best/easiest way to do this? Turn it in at a Massachusetts dealer or Michigan dealer? What are the steps after that for titling, etc?
What are tax implications? Michigan Secretary of State says no tax if selling to kids/parents, but they don’t say if it’s within Michigan only, or from another state. We would obviously pay tax in one state, but it would be nice to avoid paying in two if possible.
Any other suggestions?
Thanks for the help. We’ve never leased a vehicle before, so this process is all new to us.
Ford doesn’t allow third party purchase. They would need to buy out the lease (and pay sales tax), and then sell it to you.
Massachusetts is especially challenging because temp tags are illegal, I don’t recall if their dmv offers transit permits and I’m not finding them when I search. You need to do some homework there.
Buy it in MA (Parents Pay Tax)
Immediately have them sell it to you for $0 (MA Family Transfer Exemption)
Register it in MA with your Parents Address and your name.
Take it to MI
Reregister it.
Now the big thing is can you get a refund on MA Registration fees, dunno.
