Quote:
Originally Posted by Loomis
I have a 2008 VW Passat wagon coming off lease. It was a company car, creampuff, well maintained, etc. Anyway, residual is $14K, and they're selling at the dealer for about $19.5K. I figure I could private party sell it and pocket at least $3-4K (I hope).
The rub is, of course sales tax and registration. Is there any way the buyer could directly register it himself, or am I the only person who can buy it off lease? Or, is there a way to avoid my paying sales tax to the dealer, and the next guy having to pay sales tax all over again when he buys if from me?
I'm in CA.
Danke.
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Unless there is a huge difference in the residual price and the actual value, you really can't do it in high sales tax/registration states, and you've identified the reason.