Grogmister
Sharpshooter
- Sep 13, 2012
- 419
- 43
Ok, this is a long shot but maybe one of you have delt with this before. I have a leased vehicle that is coming to the end. (Already bought a new truck) I know my payoff/buyout that includes the sales tax on the residual balance. I have a co-worker who is going to buy it from me when I pay it off. My question is, is there a way for him to not have to pay sales tax again? I know once I pay off the lease they will send me the title paperwork for the new registration. Do I have to title it in my name, wait for the title to arrive in my name then sell it to him with a BOS? I was hoping to save doubling the sales tax. If that is the only option so be it but seems like double dipping on the states part. Thanks for any insight and possibly a trip tot the BMV to ask the same question.