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Have you had a relative/friend purchase your leased vehicle or have your purchased someone else's leased vehicle?
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FirstMate
My lil cowboy

Member since 10/10 7790 total posts
Name:
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Have you had a relative/friend purchase your leased vehicle or have your purchased someone else's leased vehicle?
A family member wants to buy my truck at the end of my lease. My family member plans to send the check directly to the bank for the pay off amount, which includes NYS sales tax. However, the bank told me that the title will still be in my name. When I go to transfer the title, there will again be sales tax applied at DMV from what I can tell. Does anyone know if there is a way to avoid the state from "double dipping" on the sales tax of the same vehicle, especially if it's happening on or about the same day?
I tried contacting DMV but that was a lost cause. I have to wait up to 5 business days to get an answer to my question (I kid you not). The car dealership will broker the deal but they charge an obnoxious fee to do it. Does anyone have any experience with this?
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Posted 1/5/16 12:26 PM |
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angelicd77
LIF Adolescent

Member since 12/13 794 total posts
Name: Kim
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Have you had a relative/friend purchase your leased vehicle or have your purchased someone else's leased vehicle?
Use the DTF-802. It is the statement of transaction form. There is an option there to gift the vehicle to someone. However, the title will not be in your name. Once the vehicle is paid off the title will be sent in the leasing company's name to whoever pays off the account. It is that persons responsibility to transfer it into a new name. The leasing company should also provide you with a bill of sale showing that the tax was already paid. That should avoid any confusion at dmv. Let me know if you have any other questions. I do DMV at a dealership so I'm pretty well versed in this stuff.
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Posted 1/5/16 12:46 PM |
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