So I’m currently nearing the end of my tundra lease here in Texas. The lease is through US bank. Can someone please help clarify the tax situation? I’m thinking to buy it out right Bc the trade value is still higher than the buyout value I’ve been given.
US bank payoff includes sales tax. When I go to transfer the title into my name, do I have to pay taxes again or just show them the payoff where it says I paid taxes already
The latter…
Hummm… I noticed on your settlement sheet there’s an $800 “purchase option fee”….
Gouging the auto consumer seems to be very popular this year…
….
That is very odd and high. My Tacoma purchase option through US Bank is $350.
@TheDMD Do you recall the amount listed on your contract?
I’m reading the contract now and it says under the purchase option at the end of lease term
“*includes purchase option fee of not more than $350”
The latter
I would bring this up to US Bank. They are ruthless.
Purchase option fee is for buying out mid lease I would think. End of lease $350.