Quote:
Originally Posted by 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. |
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.