Lease return help

shawnski

your pay off is what you can buy it for+ tax and title fees in your state, you can finance that amount or pay cash for it..( you can call nissan finance and get your pay off ) the reason you have to pay tax and title fees again is because the car was in nissan's name and it will be yours and uncle sam needs your help again..

andre12031948

You're a bit wrong. HE paid the taxes when he leased but it was for ONLY the amount of time of the lease. When he buys the rest of the car, he will pay taxes AGAIN but it will be for only the current cost of the car or you can say for the rest of the car.

Good part is that the money will go to a good cause, THE GOVERNMENT!!! square.

andre12031948

There most likely is something in the lease that allows/won't charge you for some wear & tear costs.

Then again if you buy your lease car, the car can be in little pieces & the manufacturer WON'T charge you for the damage. NOT ONE PENNY!!! Honest!!!

shawnski

You only pay tax and title fees for amount of your current pay off .. Another option u have is to trade the car and get something else just like if you financed the car.
It does not hurt to see what your car worth of you trade it in, might have equity, no equity but save on tax , the worse case you are upside down.

andre12031948

When I said "you're a bit wrong" was because you sounded like he didn't pay sales taxes when he leased.

Now I don't understand what you mean by "no equity but save tax" ???? I don't understand that either.

shawnski

when you lease a car you pay taxes and license, reg. fees like if you finance a car.
the residual dollars set by nissan the day you lease a car, that number calculates as residual percentage times your msrp of the car, that number is fixed and that would be your payoff number at the end of lease term, if you return the car back that number has no meaning except you have to pay for damages to the car, over on miles, and disposition fee( he needs to look at his contract)
if you decided to buy the car cash or finance at the end of lease contract, that residual dollar is the one you work on + tax and title fees.
if you want to trade the car for something else the same number you used to calculate the pay off.( residual dollar)
one of the biggest purpose of lease is that it keeps you monthly payment lower, you can drive more luxury cars for more affordable payments.

andre12031948

All that is correct. The only thing I didn't understand & thought you didn't understand were the statements I pointed to(tax references). So I'll just leave it at that those statements just happened. Many times it happened to me to

I'm assuming you understood everything I posted as well.

shawnski

yes sir..