Toyota third party lease buyouts

[Noorct]

Hi team - saw an article this morning saying Toyota is considering ending third party lease buyouts.

1. Any confirmation of this?
2. In Mass, what are the tax implications if you have to buy out yourself then sell to a third party?

[AutoNinjas]

ending it 8/1

[forbs]

@Noorct

In Mass, what are the tax implications if you have to buy out yourself then sell to a third party?

In any state but California, you have to pay for all sales tax plus other governmental stuff.

[mllcb42]

List of Lenders that Allow for Third-Party Buyouts

As used car prices soar, many lessees are finding that their vehicles are worth considerably more than their current payoff amount. Instead of simply returning the vehicle at lease end, you may be able to sell the vehicle to a third party (such as Carvana, Shift, Vroom, and CarMax) for a profit. However, some lenders are making it difficult for consumers to access this “lease equity” by charging a higher lease buyout price to third-party buyers than to consumers, or altogether prohibiting third…

[Noorct]

Thanks so much!

[Noorct]

Thank you for sharing this!

[Noorct]

Got it thank you!