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Re: Lease Buyout Question
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Posted by rico567 [Email] (more from rico567) on Thu, 21 Jun 2007 14:59:59 Share Post by Email
In Reply to: Lease Buyout Question, SteveH, Thu, 21 Jun 2007 11:55:55
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The lease buyout offers we've received (our last two 9-5s have been leased) have not been attractive, according to the values given online at Edmunds and KBB.
The issue of state tax varies from state to state. Here in IL, we're in the minority of states where if you lease a car, you pay sales tax on the full retail price of the car, and then if you do a lease buyout, you pay tax on that amount. So, it's pretty easy to pay sales tax on $60K + with a 9-5 if you keep the leased car.
You shouldn't have that problem, if all you're doing is buying a car coming off lease. All you'll pay on is what you pay for the car.
Our lease is running out, and we're getting out of the lease game. Bought a car out-of-state, same year (04) as the lease car we're driving, but with MT (which we really want, we don't care for the Sentronic on our current car AT ALL). It's the identical car except for color, the manual transmission, and 30K less miles. It's a CPO car, which we had not previously considered. A pretty good deal: a 3 year old used car with a 3 / 80 manufacturer's warranty.....

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