[General | Members | C900 | 9000 | NG900 & OG93 | 92X | 93 | 95 | NG95 | 97X | 99 | Sonett | Vintage Models | Performance | Detail | Clubs & SOC | Other Cars | Books Movies & Music | Chat | FAQs | Gifts | Photos | Classifieds | Polls | Raffle | Sponsors]

95 Bulletin Board
1999-2009
Search:


[Main 95 Bulletin Board | Post Followup | FAQ ] [ Prev by Date ] [ Next by Date ] Member Login / Signup [Most Recently Edited Saabnet.com Photo Galleries]
Re: I think you pay tax twice!!! How to avoid it
Posted by LG Aero (more from LG Aero) on Sat, 23 Jun 2007 04:47:24
In Reply to: I think you pay tax twice!!!, TonyM, Fri, 22 Jun 2007 05:13:04

Tony is right if you followed his scenario. However remember this number one rule, the leasing company does NOT want the car back. It is more profitable for them to have the residual paid off and never see it again.
This means that if your friend is getting to the end of his lease and does not wish to buy it out, the leasing company would be as happy as could be to have you buy it for the stated residual value. That way you would only pay sales tax on that price avoiding double taxation.

But even better than that you can often buy out the car for LESS than the stated residual amount. Remember rule one! It would be easier use your friend in this process, just be fair and firm. The fair part is to find recent local area auction sales prices ( that is where the lease cars go if the dealer doesn't pick it up). Remember there are costs to the leasing company to get it to auction and commissions etc. So the real auction price gives a good guide as to the fair offer to the lessor. It will also point out to you how different the stated residual value is from the real world price. This can be a great way to buy a Saab as you know the history of it.

posted by 74.67.28...

Posts in this Thread:
Members can receive an alert when someone posts in this thread.
Post a Followup

Name:
E-Mail: (Confidential & Secure - Not revealed to other users!)
Send me email when someone posts in this thread: (available to Members)

Subject:

Posting rules are simple - No for sale/wanted ads or live auctions may be here - use the classifieds.
You may not cross-post your message to multiple BBs.
Personal attacks, insults, or flaming are not allowed.
Posting any of this will result in an immediate loss of posting privileges on this site.
Site Members do not see any warning (red) text.

Message:

Optional Link URL: (e.g. http://www.saabnet.com/)
To promote your own Saab site here, you must have a link back to The Saab Network.
Link Title:
Optional Image URL: (e.g. http://www.saabnet.com/img.jpg)




The content on this site may not be republished without permission. Copyright © 1988-2012 - The Saab Network - saabnet.com.

This is a moderated bulletin board - Posting is a privilege, not a right. Unsolicited commercial postings are not allowed (no Spam). Please, no For Sale or Wanted postings, SERIOUSLY. Classifieds are to be listed in The Saab Network Classifieds pages. This is a problem solving forum for over 250,000 Saab owners, so expect to see problems discussed here even though our cars are generally very reliable. This is not an anything goes type of forum. Saabnet.com has been a moderated forum since 1988. For usage guidelines, see the Saabnet.com Mission and Purpose Page. Please remember that you are not anonymous. Site Donations
Your address is: 54.242.188.217 - Using CCBot/2.0 - Logged.
Site Members do not see red text instructions, green links, and bottom of the page banners.
Click here to see all the Site Membership Benefits!