Selling a lease.
Joined: Dec 2001
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From: Boston
Originally Posted by mosesbotbol' timestamp='1381422354' post='22820839
I've been curious about picking up someone's lease from one of the sites. Has anyone done it? The idea of short term lease is appealing, but I would want the seller to cough up some of my sales tax money.
I do it all the time. A friend of mine does it every 6/7 months. He gets a convertible for the spring/summer and an SUV for the winter. Works very well. You can find high miles leases for decent/cheap prices & only be locked it on 6-12 months
Joined: Jul 2007
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From: Long Island, NY
Originally Posted by s.hasan546' timestamp='1381422687' post='22820847
[quote name='mosesbotbol' timestamp='1381422354' post='22820839']
I've been curious about picking up someone's lease from one of the sites. Has anyone done it? The idea of short term lease is appealing, but I would want the seller to cough up some of my sales tax money.
I've been curious about picking up someone's lease from one of the sites. Has anyone done it? The idea of short term lease is appealing, but I would want the seller to cough up some of my sales tax money.
I do it all the time. A friend of mine does it every 6/7 months. He gets a convertible for the spring/summer and an SUV for the winter. Works very well. You can find high miles leases for decent/cheap prices & only be locked it on 6-12 months
[/quote]
yes but on a leased car do they charge you sales on on the total purchase price or the leased amount?
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From: Ventura, California, USA
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From: socal
For BMW, they only need to you pay $500 to transfer the lease to another person, it will take about 2 week, and the new leaser (sp?) needs to be approved by BMW Finance.
All the money transaction is totally up to you and the person that's going to take over the lease.
All the money transaction is totally up to you and the person that's going to take over the lease.
Joined: Dec 2001
Posts: 5,171
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From: Boston
Not only that, you have to pay excise tax on the value of the car each year. Most leases in MA, they roll the sales tax into the lease payments which obviously inflates them some and makes the owner even more upside down when trying to get out of the car early.
Joined: Mar 2008
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From: West Los Angeles
Originally Posted by s.hasan546' timestamp='1381422687' post='22820847
[quote name='mosesbotbol' timestamp='1381422354' post='22820839']
I've been curious about picking up someone's lease from one of the sites. Has anyone done it? The idea of short term lease is appealing, but I would want the seller to cough up some of my sales tax money.
I've been curious about picking up someone's lease from one of the sites. Has anyone done it? The idea of short term lease is appealing, but I would want the seller to cough up some of my sales tax money.
I do it all the time. A friend of mine does it every 6/7 months. He gets a convertible for the spring/summer and an SUV for the winter. Works very well. You can find high miles leases for decent/cheap prices & only be locked it on 6-12 months
[/quote]
I think you mean "excise tax", not sales tax. Though I do remember it being something ridiculous, like 3% of the car's value every year. My roommate got a brand new WRX when I was living in Boston and his registration was $800 the first year (with the included tax).
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