Any tax credit was passed through as an incentive when you leased, and already reduced the cap cost.
So you’re saying that the $38,833 payoff already has the tax credit factored in. Is that correct?
In CA you will owe sales tax on the buyout purchase price
Is that on the whole $38,833 amount, or should the “Residual/Payoff Tax” be deduced first?
Yes.
You will pay additional taxes on the $27k
I believe what they have labelled “Residual/Payoff Tax” is just the taxes owed on the “Remaining Future Payments”
Hello hackers. I am currently leasing 2021 Audi Q5 Premium Plus in NC with effective payment of 620$ per month including Audi Care. My buyout value is around 27800 USD. Sales tax in NC is 3%
My lease is ending on 30th March 2024 and I need help in making decision to buy this car or return this and but some reliable SUVs like Honda or Toyota. I don’t want to lease another car until I get really great deal. I got quotes to sell it and highest I got is around 30K so not much equity in the car.
I really like this car and it is in perfect condition, driven for 24K miles out of 36K. I do have Audi Care for 4 years. I am thinking to buy but not sure about maintenance cost long term.
Can you guys help me decide if it makes sense to buy this car?
A lot of it just comes down to personal preference here: Liking the existing car vs upgrading to newer technology if that interests you. Infotainment previously wasn’t a huge motivator for me but IMO a couple innovations are close to being game-changers: CarPlay is now wireless in many cars and the camera projection of blind spots on the screen instead of a BSM beep in 4 brands.
PS if you choose to get something new you may find Hyundai, Kia or Mazda interiors are nicer than Honda or Toyota.
Hello Max…how do I check how much equity I have in my car? I made my last payment on my lease yesterday and I’m trying to see how much equity I will have in it. And if I were to get into a new lease does the dealer apply the equity as money off of the car? I’m still undecided of if I should keep my rdx because I’ve been having issues were there’s static noises coming from the radio and it affects my phone or car play from connecting to the car sometimes. The dealer replaced the harness and said the noise would stop but it’s still doing it and I’m not sure I want to be stuck with the headache once all of the warranties expire.
The payoff is $26,198.90
I have about 20,278 miles out of 36,000 and the car hasn’t had any accidents.
My monthly payments were $400 + $19.92 for the tire package.
If I lease again I want to stay in the $400s but I know that’s impossible in today’s market.
Equity is not “money off” aka dealer discount. Equity is your money. You might skip the step of taking a check and depositing it for convenience but treat it like your money. Maximize your equity (it’s negotiable) and spend it wisely.
Got it thank you 
I decided to buy out my Hyundai Tucson Ultimate. Got a great deal before industry went crazy back in 2021. Contacted Hyundai Finance. They told me I have 10 days of grace period from the end date of the lease to send them the payoff and mileage declaration. 3-7 days to process payment. Then, title will be sent to me. Seems like a smooth process. No need to visit a dealership. No need to have the car inspected.
Hey folks, Id like some help deciding what i should do. My '21 Ford F150 Lariat lease is coming up on the 29th this month (I know, I’m cutting it close) and Id like help deciding what to do with it. It has 31K miles (37K max). RV is $45.5K, and the few offers I’ve tried to get online are around $40K. Disposition fee is $395. Ford is offering $2500 towards a future purchase + any other public offer to put towards a different vehicle.
I am in TX so Id have to pay taxes on it, if I chose to purchase. Monthly lease payment is $750. Online calculators estimate my payments to be $800-900/month if i purchase and i dont think the truck is worth that much.
Id like to get back into an SUV; preferably a MB GLE or BMW X5.
Credit score is high 790s.
What should I do?
Why did you only pick those 2 out of all the cars you can lease?
Get a broker on the line NOW, as you have all of 8 days to return that car.
Did you look into the 4runner? They have good pricing and there are 2 TX brokers.
No systematic reasoning for selecting those 2, other than they’re nice. My 3 prior vehicles were Volvos. I wanted to switch it up with this truck but want to get back to SUVs, preferably luxury.
I have looked at pricing but also want to consider BMW military and EV credit.
I have a second vehicle, so I suppose I’m not in an extreme rush to sign asap
Military unfortunately is only a small rebate.
How does the EV credit apply to a GLE or X5?
I may be incorrect, but I believe there may be a tax credit of $7,500 for the X5 50e. I think I need to do more research, though.
NJ
2021 Hyundai Elantra SEL
23,000 miles
Lease is up June 7th 2024
Currently have 3 payments remaining for a total of $767.94
Residual is: $13,371
Lease buyout Quote (Hyundai) is 15,318
I like the car, has given me zero problems.
Should I buy it out?? First time considering a buyout. All advice appreciated.
For those situation where your buyout price is more than the market value, have anyone ever surrender the car and buy it out later when the dealer list it for sale?
Do the dealer who accept the lease return, will be the one who sale it retail or do they sell it wholesale instead?
Is that with taxes? Otherwise what’s the delta between the two numbers?
So nothing immediately sticks out as a problem. But these decisions are also relative. As in, what else could you get for your money. Are you paying cash? Financing? At what APR?
Don’t think there’s any way to generalize which dealer will retail it and which won’t. Either way it will presumably end up on a retail lot somewhere.
But does that save you money?