I’m looking into helping a buddy cash out some equity on a Nissan Sentra SR lease. It’s a 2020 with with 15k. Offers from carmax and vroom are 20,400 and 21,200 respectively. His payoff quote on the NMAC website is 18,600. My question is this: Does that payoff include taxes? He’s looking into financing/leasing (unsure) a LEAF S+, would a Nissan dealer be able to access a lower payoff due to the removal of sales tax?
Thanks in advance of your responses.
Taxes ? It depends, the payoff should detail that.
Nissan would get Payoff without taxes (So you have to see if Taxes are included)
And it’s so close that getting a dealer to buy it at payoff and give him the diff is the best solution.
On the NMAC website you can request a payoff quote. That’s the number we receieved. I tried asking chat, but they had no idea if it included taxes. Either way, the only option was to buy out with dealer assist.
Oh that changes it, the Dealer will probably put taxes on that buyout. As well as their ‘fun fees’.
Just trade it in and ask for the diff as a check (Don’t roll into the next lease as it will magically ‘vanish’)
The hope was to make about 3-4k in equity and throw it into a 72 month finance. Although I told him the 18 month lease right now is pretty good with the Leaf. Up to him to decide.
No dealer is required to pay sales tax when buying any car so their payoff always excludes sales tax.
Check multiple Nissan and Infiniti dealers as well as Autonation and Rodo for the best offer and highest amount of equity you can walk away with a check for.
1- You can get the payoff amount from NMAC account and sometimes it does state if payoff includes tax or not.
2- Check both payoffs; 1- Customer Payoff, 2- Dealer assisted payoff (in my case both were different and dealer assisted was almost $1000 less)
3- If you selling it to a dealer you won’t have to pay taxes based on my experience.
we can accommodate both the payoff and the Leaf S
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