Moving leased car from MN to TX

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1

I need to move to Houston after leasing a car in MN. How screwed up of an idea is it?

  1. Tax implications?
  2. Does NMAC allow it?
  3. What other stuff that I need to know about?

Caveat: I’m unable to replicate this deal in TX.

Thanks

2

Tell NMAC you moved. Will cost you $95 to register in TX

3

Thanks! To clarify when do I do that?? After completing the deal and registration in MN??

4

You would pay it when you do the registration transfer to TX.

How long after you lease are you moving?

5

Maybe this has been discussed elsewhere, but will OP need to balance of taxes on the selling price when we registers car in TX?

6

TX charges $95 for out of state residents when they move to the state. That’s it.

The question will be if you lease the car and then move to TX the next day, if they really qualify you as an out of state resident or try to make a claim otherwise. I don’t know that there’s a hard and fast rule there, but I’m sure the longer the time between leasing and establishing residency the better.

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