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Originally Posted by porsche986spyder
That's because Daddy is helping him get it. Ask him how old he is and what he does for a living. Sorry, no offence Bavarian.  |
I'm sorry, but... how do you know this?
I have my own web development company that is a partnership with my two friends. It is a registered partnership in Nassau county.
www.activtecsolutions.com
What do you do?
Hey, I have an idea! Why don't we all mind our personal business instead of caring about others' so as to not look like an ass wipe? Oh, how well that works...
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Bmussatti:
When you get rid of a lease, you are liable for the entire lease. So if I have 30months left and pay 500 a month, I am liable for $15k to get rid of the lease.
That would mean I'm losing $15k if I did that...but those are example #s.
So in this instance, I decided to buy the entire car. That means remaining lease payments plus remaining value of vehicle, and trade it in. That would be substantially less than what is left on the lease.. In this case, around $4k difference, which is likely what I would have to pay anyhow due to high mileage.
The bad part is you have to pay sales tax again. The GOOD news is that I don't have to pay sales tax on the car I am trading it for.
However, I'm not dealing with that part. I give it to the dealer with the pay-off amount and tell them to have fun. That's the great thing about dealers. They do the annoying stuff.
They only valued my car at around $35k. In NC they valued it at $38k.