drop997stop

So I found a buyer for my e63 but I sm still in my lease contract. The buyer will buy the car for my payoff but I am trying to avoid paying double taxes. If the buyer gives me a check for the full amount and I payoff MB financial then MB Financial will send me the pink slip and title. Can I just sign over the pink to the new buyer and have him pay taxes when he tries to register the car at the DMV or will I will have to pay taxes first when i buyout the car from MB.


Anybody an expert on the subject. Whats the best way to get out og my lease and just havethe end user pay the sales taxes

amdeutsch

PM Tary at leasecompare. He is a sponsor here. He is very helpful.

Vic55

I can speak for Cali since its not an upfront lease state. You wont have to pay taxes on the payoff but the buyer will. Your payoff will be for the remaining payments less sales tax and interest plus the residual. Therefore the tax on the purchase will go the buyer thru whatever means of financing. If he or she pays cash then they will have to settle with the DMV based on the reported cash sales price. If they get a check from a credit union or bank then their new retail installment contract will have the taxes built in. MBCC does not collect sale tax on the sale.