I am so so upset now.
I have an 2019 MDX
However it looks like the changes made by Acura/Honda make it impossible for me to sell it to them to third party. And even getting a title in your name is taking 1-2 months and costs 9% in sales tax.
Worst the dealers are obviously selling any car they are getting at MSRP + markup.
Incredibly upset at the car manufacturers for changing the rules in the middle.
Reach out to some honda/Acura dealers to buy it out.
A lot of people were incredibly upset with the US Mint over this:
Go to KBB and get cash offers. These days dealers sre chasing for used cars even leased ones. This is seller market. You are the seller in this case.
Let me know if You need help.
Also try Rodo . They can buy almost every lease at fair market price
Problem is the sales tax and the time to get title.
Depending on how Acura Financial signs off on the title after I pay it off, I may have to register it with DMV and pay the sales tax before I get a resaleable title.
According to CarMax this can add a month or two into the process while costing 9% in sales tax!
Unless you’re in California and follow the proper process
As i said above if You are planning to sell the car You do NOT need to buy it first. There is a way to sell it and it requires a little bit of Your time but it will pay off.
I would take everything rodo says with a giant grain of salt
Maybe Rodo is not the best choice but at least You can see another quote and understand how much equity You have. There are people here with successful transaction.
Yes rodo sometimes has successful transactions. They also often don’t. Hence the grain of salt.
I agree. You will never know until You try.
Thats the way I am trying to understand in California
I talked to CarMax and they said it depends on how Acura sends you the title. In some cases I can be resold without paying sales tax. In other cases, I have to register to DMV get a new title and pay sales tax.
Now if I knew how Acura operated in CA it would solve a lot o problems.
California has a process for refunding paid sales tax if you resell immediately.
Very few dealers will accept a lessor released title that isn’t in your name, which is what you’ll get from acura.Acura.
Keep in mind that you can sell to any acura or Honda dealer without buying it out first. Some large dealership brands (autonation for example), can buy out your lease at any of their stores and process it through their sister acuea/Honda store as well.
Could you describe the process for refunding the sales tax, especially if its sold to a dealer or company like Shift?
Chase (JLRFG) also does not charge more for 3rd party (06/15/2021) You have it listed as Mazda but may want to add. trying to find more information
It’s there! Subaru (Chase) does not charge either. Chase has been consistent on that so far.
I’m trying to decide what to do with my Subaru Outback. The lease is up in May, I could probably get $8,000 more than my agreed upon buy out if $18,000 or so residual value.
The issue I have is finding a suitable replacement car to lease. My Subaru dealer has a Jeep sister dealership. Perhaps I can hack a new Jeep GC or Jeep GC L. Then take the $8k and find my wife a decent deal on something.
I may just extend the lease and hope the market normalizes by Nov 2022.
Check out the big 4xe thread.