Curious what DMV fees might need to be paid on a lease swap deal for the buyer. I’m guessing tags stay with the car and registration isn’t owed until the next year or whenever it’s normally due for the vehicle? Is there any sort of fees for any DMV paperwork involved?
This is in California and I haven’t bought or sold many cars in the past, so I’m a little green when it comes to things like this.
The tag does not stay with the vehicle. You have to have your own tag, i personally did a transfer tag when i assumed a lease and the cost for doing that at tag agency in FL was about $15. Fees and procedure prob vary from state to state. The leasing company should be providing you with the necessary paperwork and a power of attorney (on their behalf because they own the car) to take to the tag agency so that you can get it registered.
OK, it sounds like there’s just a transfer fee and you’re not paying the entire yearly DMV fees all over again correct? Because those can easily be $400 or more on a newer vehicle here in CA.
out of state they will murder you, depends on fees. When my dad got his first set of f150 platinums they decided to swapalease because they wanted to rate it vs toyota, nissan, gm, and they paid $1900 in out of state transfer fees. Depends on your individual state however as there are different taxes and tag fees. Here in delaware registration is $40 a year so out of state transfer fee was the big hit.
Yes with California I’d for sure only buy something in state, I’m sure they’d nail you pretty hard with fees.