Ugh, thanks!
Thank you!
The option is not free. There’s lease acquisition and disposition fees, and oftentimes the lease MF is higher than purchase financing.
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Often times it isn’t too
My Tiguan is a year old and my lease buy out quote stands at 21k. I tried to use this to cash in with carvana as they are offering me 27k!
However when carvana received their figure from vw it showed 28k hence putting me back in the red. Caravans say this is vw levying extra charges. Any idea?
Discussed previously if you search
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In another thread, a car buyer said VW / Audi was off the table. So you might out of luck doing a direct sell.
Any advice on how to do the direct sell to carvana? I know you have limited time before sales tax is incurred. Presume I’d need to
Pay vw
Register with dmv
Wait for pink slip
Sell to carvana
?
Try and sell to a VW or Audi dealer. They get preferred pricing (same as owner). Also, private party pricing is different than dealer.
But they’re unlikely to come anywhere near a Carvana offer.
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You can’t direct sale unless you want to be subject to VWC’s market price for a dealer to buy it out.
You can try to payoff VWC, then see if you can sell it directly to Carvana without putting it in your name. You may still owe the sales tax on the RV however.
Sales tax would be due on the pay off amount, not RV, in most states.
Depends on which state. California is 10 days, and in most other states it’s due on registration.
To be a bit pedantic, in CA it’s due when you transfer the title into your name, but if you sell within 10 days and file the appropriate paperwork, you can get exempt.
Don’t want anyone to misunderstand and think that just because they sell within 10 days they’re good to go.
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I can’t speak for all captives in all states, but in CA, VWC charges all the sales tax due on the remaining payments as part of the payoff. Thus the only additional sales tax owed would be that of the RV amount.
That has not been my experience with other brands in CA, where the payoff does not include sales tax, nor should it per my understanding of CA lease tax code (although I am not a tax expert so I could be wrong). Are you sure that’s how they structure their buy out amounts?
I’m positive. I can go to the portal and post a screen grab later. But essentially, they charge all remaining payments, separately line iteming the sales tax for the remaining payments, rebate part of the rent charge only. And then add the RV.
How bizarre
Yeah, I should’ve been a bit more clear.
