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
so why dont we pay taxes when we use 3rd party sites like carvana and carmax?
“Use” meaning? If you buy a car from them you pay sales tax.
If a dealer buys your lease directly from the lessor, you never bought it and therefore never owed tax.
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Because YOU bought out the loan, they didn’t. If they did, then they would produce a Resale Document that states they will sell this as a dealer and do not need to pay sales tax. You don’t have one of these I bet and would need to pay tax when you buy it from the bank.
A better argument is when you pay off a loan, you don’t pay sales tax. Because it’s included in the loan, a lease works differently.
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What happened to “the discussion”
Hello Everyone, I live near Burbank, CA and my 2020 Cadillac XT5 is about to be up in less than 2 months. I’m looking to get into a Lexus NX 350, but need to get out of this car first. This car was originally a loaner with about 5k miles on it and now has 40,500 miles and according to KBB is worth somewhere between $25,179-27,810. However the buyout is $29,306. So the car is underwater.
I’m trying to figure out a way to owe less. I owe $600 to turn it back in, as well as probably 4 new tires. Should I just bite the bullet and pay the probably $1400 and never lease a Cadillac again or try and negotiate the lease buyout price and sell it via third party? I got a quote from Shift for $28900 but the problem is you can no longer sell leased cars from GM Financial to third parties. So dealing with tax and credit unions seems like a tall order.
If anyone has any thoughts or suggestions I would appreciate it thanks!
Not in states with no sales tax
Bought out my lease, lease company sent me the title, took it to the town applied for a new title/registration.
Have an offer from driveway for a good chuck of change, so I need to wait for the bank to get the new title? Can they just take it now? How does it work?
Thanks