I’m buying out my 2021 Ram 1500 at the end of the lease term so I can immediately flip it to Carvana. My buyout number is $29,882.93 (US Bank ) – of which $1757.82 is sales tax – and I have an offer from Carvana for $34,200.
In workshopping ideas with Grok, the robot suggested I may be eligible for a sales tax exemption on the purchase, so long as (1) I complete the resale within 10 days of receiving the title, and (2) I do not drive the vehicle during that 10-day window.
I spoke with a woman at the Comptroller’s office and she was sweet but not particularly knowledgeable, and digging through administrative code makes my eyes cross. Grok has repeatedly stated that the exemption is not just for businesses, and that consumers can qualify as long as the vehicle is purchased solely for resale and not for personal use.
Have any of you encountered this, or is the robot hallucinating?
I think Grok is pulling from the CA 10 day loophole and applying it to TX which is unfortunately inaccurate.
I know at one point we had a broker or two on here that could process US Bank buyouts and buy it from you directly. Ideally someone else can remember who it was?
CA is the only state I’ve read about on here that has the 10 day loophole. I’m in TX and have never heard of this “10 day” deal. Several posts on here talk about that in CA though.
I also think that US Bank is going to collect that sales tax from you when you buy the car from them and they will make that tax payment to the state of TX on your behalf.
Thanks for the answers, guys. It’s not the end of the world. I’ve nearly doubled the miles on the lease, so I expected to be in a deep negative equity spot, so the thought of actually making money off of it got me feeling greedy to try to make even more!
) – of which $1757.82 is sales tax – and I have an offer from Carvana for $34,200.