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If you buy out your lease do you have to pay sales tax?

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Old 07-18-2006, 05:45 PM
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If you buy out your lease do you have to pay sales tax?
I thought I paid sales tax when I originally leased the car. Now when I went to Honda Finance to buy the car they are saying I need to pay a sales tax with the DMV. Any thoughts?
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Old 07-18-2006, 05:49 PM
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Sounds right since technically, they own the car and are selling it to you.
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Old 07-18-2006, 06:02 PM
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Yep, you have to pay sales tax on the buy-out price.

Your lease payments included taxes for the portion of the car's price that you paid. Now that you're buying out the rest of the car, you must pay taxes on that portion, too.
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Old 07-18-2006, 06:07 PM
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Makes sense now. Thanks guys.
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