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Old 01-15-2010, 02:00 PM
 
63 posts, read 227,283 times
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We just decided buy out our lease on our car that ends at the end of this month. If we didn't, we would be stuck with the extra mileage costs. Since we plan on buying a different vehicle that has more room, we are looking to sell the vehicle that we plan to buyout. In Minnesota, does anyone know what process we could take to avoid "double" paying the sales tax when we buyout the vehicle at the end of the lease and when the buyer purchase's the vehicle from us?
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Old 01-16-2010, 01:28 AM
 
Location: MN
1,669 posts, read 6,234,069 times
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Quote:
Originally Posted by huggybear28 View Post
We just decided buy out our lease on our car that ends at the end of this month. If we didn't, we would be stuck with the extra mileage costs. Since we plan on buying a different vehicle that has more room, we are looking to sell the vehicle that we plan to buyout. In Minnesota, does anyone know what process we could take to avoid "double" paying the sales tax when we buyout the vehicle at the end of the lease and when the buyer purchase's the vehicle from us?
Why even worry about some other random buyer having to pay sales tax on it?..... or are you trying to get out of paying the sales tax when you buy the car from the dealer?

Sales tax will be collected when the person that buys it from you goes in to transfer the title.
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Old 01-16-2010, 06:20 AM
 
20,793 posts, read 61,294,149 times
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Have you gotten the buyout numbers for the lease yet? Chances are unless you are way over your miles it would cost you a lot less to pay the mileage charge. As for avoiding double taxes, have whoever wants to buy your car just pay the buyout fee for you and be done with it.
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Old 01-19-2010, 10:20 AM
 
63 posts, read 227,283 times
Reputation: 53
Quote:
Originally Posted by golfgal View Post
Have you gotten the buyout numbers for the lease yet? Chances are unless you are way over your miles it would cost you a lot less to pay the mileage charge. As for avoiding double taxes, have whoever wants to buy your car just pay the buyout fee for you and be done with it.
Looking at the numbers at this point a buyout is the better option. Since we have had some very deep interest from two prospective buyers, we think it will sell quick. Thanks for the information.
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