NonSports Forum

Net54baseball.com
Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for Buying, Selling and Trading - the B/S/T area!! If you write anything concerning a person or company your full name needs to be in your post or obtainable from it. . Contact the moderator at leon@net54baseball.com should you have any questions or concerns. When you click on links to eBay on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network. Enjoy!
Net54baseball.com
Net54baseball.com
T206s on eBay
Babe Ruth Cards on eBay
t206 Ty Cobb on eBay
Ty Cobb Cards on eBay
Lou Gehrig Cards on eBay
Baseball T201-T217 on eBay
Baseball E90-E107 on eBay
T205 Cards on eBay
Baseball Postcards on eBay
Goudey Cards on eBay
Baseball Memorabilia on eBay
Baseball Exhibit Cards on eBay
Baseball Strip Cards on eBay
Baseball Baking Cards on eBay
Sporting News Cards on eBay
Play Ball Cards on eBay
Joe DiMaggio Cards on eBay
Mickey Mantle Cards on eBay
Bowman 1951-1955 on eBay
Football Cards on eBay

Go Back   Net54baseball.com Forums > Net54baseball Postwar Sportscard Forums > WaterCooler Talk- Off Topics

Reply
 
Thread Tools Display Modes
  #1  
Old 02-28-2017, 06:11 AM
LuckyLarry's Avatar
LuckyLarry LuckyLarry is offline
L@rry T1p+0n
Member
 
Join Date: Mar 2013
Location: Florida
Posts: 1,867
Default Buying a car coming off a lease?

A friend of mine leased vehicle, and the lease "matures" in a couple of months. She can either turn the car in or purchase the car when the lease matures. My friend is moving to Europe and will not be taking this vehicle. I have always liked this car, and mentioned that she should sell it to me. She is willing to sell it to me for the payoff amount. I have never leased a car and am not familiar with how it works.

The car is a 2013 Civic LX, with 35,000 miles it has been serviced by Honda and is in like new condition. The payoff amount will be $11,000 which appears to be very close to the trade in value for this car. Full retail price appears to be $12,775.

1. If I pay her $11,000 can she then payoff the lease, and have the dealership transfer the title to my name? Or could I just pay the dealership?
2. I assume I would have to pay sales tax?
3. Anything else I need to know about this type of transaction?

Larry
__________________
Member of OBC (Old Baseball Cards), the longest running on-line collecting club www.oldbaseball.com
Reply With Quote
  #2  
Old 02-28-2017, 06:22 AM
bnorth's Avatar
bnorth bnorth is offline
Ben North
Member
 
Join Date: Jun 2013
Location: South Dakota
Posts: 9,787
Default

I would guess it varies from state to state. Here it would go like this.

You give her the $ and she purchases the car. Dealer puts car in her name. She then transfers the title into your name.
Reply With Quote
  #3  
Old 02-28-2017, 06:32 AM
ibuysportsephemera's Avatar
ibuysportsephemera ibuysportsephemera is offline
Jeff G@rf!nkel
Member
 
Join Date: Jun 2009
Location: Hudson Valley, NY
Posts: 1,496
Default

You are correct about the taxes. We once had a car come off lease and we purchased it. I had forgotten about the taxes and it turned the deal upside down on us. Good luck.

Jeff
Reply With Quote
  #4  
Old 02-28-2017, 07:46 AM
KMayUSA6060's Avatar
KMayUSA6060 KMayUSA6060 is offline
Kyle May
Member
 
Join Date: Jul 2016
Location: Northeast Ohio
Posts: 1,895
Default

I've never leased nor bought a car coming off a lease. Only reason I'm commenting is to give you a thumbs up for buying a Honda! Very wise purchase.

2013 has a very low amount of complaints.

http://www.carcomplaints.com/Honda/Civic/
__________________
Need a spreadsheet to help track your set, player run, or collection? Check out Sheets4Collectors on Etsy.
https://www.etsy.com/shop/Sheets4Collectors

- Hall of Famers
Progress: 318/340 (93.53%)

- Grover Hartley PC
Needs: T207 Anonymous Factory 25 Back, 1914 New York Evening Sun Supplements, 1917 D328 Weil Baking Co., and (possibly) 1917 Merchant's Bakery

- Jim Thome PC

- Cleveland Indians Franchise Hall of Fame

Last edited by KMayUSA6060; 02-28-2017 at 07:47 AM.
Reply With Quote
  #5  
Old 02-28-2017, 08:10 AM
1952boyntoncollector 1952boyntoncollector is offline
ja.ke liebe.rman
 
Join Date: Sep 2014
Location: https://www.psacard.com/psasetregistry/mysetregistry/set/348387
Posts: 5,738
Default

If she soaked her car in any way, make sure she discloses it to you.
Reply With Quote
  #6  
Old 02-28-2017, 03:19 PM
vintagetoppsguy vintagetoppsguy is offline
D@v!d J@m3s
Banned
 
Join Date: Sep 2009
Location: Houston, TX
Posts: 5,981
Default

Quote:
Originally Posted by KMayUSA6060 View Post
I've never leased nor bought a car coming off a lease. Only reason I'm commenting is to give you a thumbs up for buying a Honda! Very wise purchase.
Absolutely agreed. I had a '90 Honda Accord and drove it as a work car up until about 5 years ago. I sold it to my brother at that time and it had over 450K miles on it. He wrecked it shortly thereafter
Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Name at top set coming along Phillies*phan Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 10 06-01-2016 02:54 PM


All times are GMT -6. The time now is 02:44 AM.


ebay GSB