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Reply to "Volvo Lease Buyout (Early)"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]PP again. We did not have to do an inspection because the buyout value was clearly given every month in the online account. We did have to pay sales tax on the residual value at DMV when we registered the car.[/quote] In VA you pay all the sales tax upfront (i.e. rolled into you monthly lease payment). So why would you have to pay sales tax again?[/quote] The tax is amortized. So yes, you pay part monthly but at buy out you pay on the residual value at the time of the buy out which hasn’t been taxed. In other words, if you haven’t made the lease payment you haven’t paid the tax.[/quote]
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