Lease car then buy it
Has anyone ever leased a car then bought it? I did last Feb. I fought GMAC to get my title so I could get the lein holder changed it is a VERY long story. I know have the title but I went to the DMV to get the title changed and I have to pay taxes on the purchase amount that I borrowed from the bank. I was surprised, I guess I thought I paid all the taxes when I leased it, but I really cant remember. I will never lease then buy a car, it is such a pain. Does that sound right that I have to pay taxes? Yes you pay taxes on almost everything but I would have thought I did that already. Any thoughts.....
taxes
This isn't regarding a lease, but when we bought our last van, we bought directly from another family. When we set up the loan, the bank gave us the money for taxes (figured into our loan) to take to the BMV. When I went to the BMV, I paid the taxes with the check from the bank.
I wonder if the taxes that were figured into lease were only for the lease term, then the purchase amount taxes would be seperate.
Jessica
~ Mommy to Luke and Shawn
taxes
What you had to go pay is correct. What you pay for the lease is just for the lease. When you go to purchase a car, that car or any other car you have to now pay sales tax and another fee. I definetly agree with you that you should never lease and then purchase. I actually did finance for a car lot for a long time and I am completely against leasing. Unless you are a company that does fleet cars or someone that changes their car out every year, I would not do it.
Amy D.
The Jewelry Lady!