Bumping my post for advice.
What are your needs and what makes/models are you interested in?
-
Ford leases are weird, IIRC you (nor 3rd party) can’t buy out within 180 days of disposition, so sooner is better. Ford also really wants the originating dealer to process the buyout. You should call FMC and double check the current rules to updating your timing.
-
not sure what state you are in, but that would help answer the question 2a) do you owe sales tax on buyout (likely yes) 2b) does your state offer a sales tax credit for trade-ins processed at the same time as new lease/purchase.
I under the impression I do not have a 3rd party buyout option as my Audi Q5 lease approaches it’s end date. So, I’m wondering if it makes sense for me to buy it and then sell it to Carmax? Do I have to title the vehicle before selling it - which would require sales tax? And is there any other option you might recommend? The buyout is $27k which I believe is close to $10k below market value. Any wisdom? Thanks!
Be sure to specify your location when asking for input on a deal! Tagging by state (e.g. CA, NJ, NY, usa-nationwide) is mandatory.
Please tag if your question involves to a specialized topic (e.g. tax, legal, shipping etc.). You will reach experts faster that way. View all tags at FORUM | LEASEHACKR.
If you asked for a deal check, circle back after you have signed a deal – the community always loves to hear back! Submit your deal to SIGNED! (https://share.leasehackr.com).
What’s MSRP and year?
Premium, premium plus? Prestige? Miles?
Values of Q5 have dropped significantly , I wouldn’t be so sure to say you can get close to 37k.
“Market value” meaning retail? No one is going to pay that.
Let’s start talking real numbers and actual bids.
I didn’t mean to imply that I thought I could get $37k. Only that if that’s current retail, then there must be some equity in a $27k buyout.
2020 Titanium Premium Plus
24,800 odo
Instead of assumptions let’s discuss real bids and real numbers.
I’m getting offers in then$30-32k range.
Still have the question of needing to buy and title and pay tax or not….
Kia Niro EV (ex premium) lease ending in 6 months (340/month including tax)
Residual : 21,630 + tax
Trade in values in most platform coming in lower or same. so no equity left.
Decision: purchase or lease some other EV around same monthly cost. Or go crazy and buy model Y (additional $20,000)
Which Kia Niro Trim?
Ex Premium.
Ok so you got the nice sound and the Sunroof.
If you lease another Kia, you can skip the $400 Disposition Fee, and get the 360deg cameras.
It has a few better features like the Cameras, so if you can get a Sub $400 lease it’s worth it.
Does Kia Finance negotiate buyout amount?
Not normally
I bought out my lease with a loan from my credit union. AHFC sent the bank the title but they didnt change the name on the title. Now my bank is asking me to go to the DMV to get it done. Do I have to pay Sales Tax when I do the title transfer? My bank only refinanced for the buyout quote provided by Honda.
Yes in deedy
do I directly pay to the DMV?
All lease buyouts need taxes paid. CA folks can get a refund if sold within 10 days, but only in CA