if some company (CarMax etc) or even a dealer, ends up buying out my end of lease, are they paying the taxes?
like when I get a quote for say 25k on my 20k residual, am I getting a check from them for 5k and as part of them buying it from my lease holder (chase) they are paying taxes behind the scenes?
I have a friend who’s a used car dealer, he was like ‘ill write you a check for 25k, buy it and leave it on my lot, you won’t pay taxes until you go to register it, and since you aren’t, you wouldn’t pay them’. I don’t think he’s ever done it, so I’m not sure he is accurate in how this works
in CT if that changes things
just curious how it works, thanks in advance!