refinancing issues with my M

[Sy546]

Originally Posted by nebby

Well, if I sell the car, which I likely will before the three years are up, then yes, I did get it tax free, kind of. In a scenario where you are selling the car, the lease + buyout is better because you pay sales tax on the buy out only if you register the car. When I sell the car, I will pay off the buy out price, get the pink slip and hand it over to the buyer, so the only sales tax I paid is the amount that was added to each lease payment.

That is not how it works in NY. If i wanted to buy out my GTI lease VW would collect sales tax upfront.

Originally Posted by nebby

Not true, I haven't made a single lease payment either. My lease was a fully loaded car at $54,xxx less $1000 discount from the Olympic Drive event and $900 cap reduction. My payoff is $53K. Your car was only more expensive if you paid a mark-up and then the sales tax you already paid.

Ok so you had $1,900 reduction. I paid $54,xxx + 1,000 for a clear bra and i paid for a few more add ons that you don't have.

Originally Posted by nebby

Huh? I absolutely plan on the car holding its value AND I have ultimate flexibility... just find a buyer, pay off the car based on whatever the current buy out is and the leftover money goes in my pocket. And I don't need to recover the sales tax you already paid when figuring out if I made a profit from selling or not.

Like i said in NY it works differently. you can't just pay it off and not pay the taxes.

Originally Posted by nebby

Let's hear how you can sell the car for $58K today if you wanted to since you have "more freedom" in selling your car?

I couldn't. Here in NY even if i leased it and paid $0 upfront i would not be able to sell it for $58k without losing anything.

Your car came out to roughly $52,500. So that is a totally different from my almost $56,000.

[b33g33]

Not to be a jerk here, but for a guy who claimed to leave "thousands of dollars in cash" in your glove compartment when you valet your cars, you're sure whinging a lot over a few $K.

[Sy546]

Originally Posted by b33g33

Not to be a jerk here, but for a guy who claimed to leave "thousands of dollars in cash" in your glove compartment when you valet your cars, you're sure whinging a lot over a few $K.

hahah im not whining.
Just would like to avoid it. No point in paying $$ upfront when rates are so low.

Like i said, I'm just going to refi and pay some $$ upfront. No big deal.