Acura did it for me (archive)
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Posted by EricS on July 30, 2000 at 00:56:32:
In Reply to: BMW Financial Services is killing me........ posted by JG on July 29, 2000 at 18:08:54:
(posted from: cx96259-a.irvn1.occa.home.com (24.0.209.154))
At the expiration of my lease, the car was worth 15k, but had a 12k buyout. Found someone to buy it for 15k. He wrote me a check for 3k and Acura for 12k and they put the title in his name, so I didn't have to pay the tax. I'm in California, so not sure if there are state laws that impact, but you should not have to pay the tax. Other option is to have the dealer handle the paperwork, but they will probably want a few hundred bucks for the trouble.
If I found a guy who is willing to buy my car (which is on lease)- willing to pay the buyout. The information I'm getting is that I have to buy the car and get the title (which means I have to pay state tax-$3,000)- then transfer the title over to the gentleman who wants the car (he pays tax again).So, basically BMW won't send the title to anyone whose name isn't on the contract- even after all the stupid paperwork is done on the other buyers behalf-
Why would BMW care who buys the car outright?
Same thing with taking over the lease- they charge you $450, person has to send in a credit app, both parties sign a transfer of interest form (gets notorized)- but if they default on the payments, the person on the contract is still responsible- this is also a bunch of crap, what am I paying $450 for.
My friend just sold his Viper (bought used at a Chevy dealer)- he had no problems with GMAC switching over all "responsiblity" and title to the buyers name, leaving him without having to pay state tax. Its a different company, but still- BMW shouldn't be any different.
Am I missing something????? I hope so. thanks for reading.
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