Can I buyout a Volvo lease- and get a title without registering it and paying tax?
Thanks for thinking about it
Don
If you cut a check directly to Volvo, they will mail you a bill of sale and Title pre-signed over to you.
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dude - there’s no equity in s60s, xc90 t5 and t6m’s, xc60 t5m and i’s, with slight exceptions to cars w like 10k miles on them or low spec.
Guess it may not be worth it-
Wow- thanks for that info- then I can sell it without sales tax- thanks again
There may be SOME equity if you have low mileage, but there is no way you can do it legally. You will need to register the car and pay taxes unless your state has a buyout exception which FL does not.
They will send you the title in their name with you assigned as the purchaser. Not a clean title with you assigned as the owner.
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Hi Matt- will I be able to sell it to Carvana and not pay sales tax?
You will not. They wont accept the lessor released title. They want the new title in your name.
You may also find that volvo collecta tax when you do the buyout. The last lease i bought out in FL had tax included (Honda).
Thanks again Matt
Florida is an exception. I just bought out my Volvo lease in Florida. Volvo works with a third party titling company to act as power of attorney (this fee, along with taxes, etc is included in the buy out quote from Volvo). About 3 weeks after I sent the paperwork and buy out check, I received the clean title in the mail.
Not really. You just bypassed the trip to the dmv by paying a 3rd party company to do it for you. The lessor release title was still what came from volvo, it just went to an intermediary. The important part of the conversation is that you paid tax already. What the OP was asking about was not paying tax, getting the lessor released title directly, and selling the vehicle without paying tax/completing the title transfer.
You definitely are not required to use a 3rd party company to handle the dmv paperwork for you in FL.
That does make sense. Although oddly Volvo never gave me an option not to do it this way. I did appreciate skipping the trip to the DMV though!
FL DMV is a delight to deal with after dealing with the DMV in California 