I don't know anyone in the industry so I'm hoping some of you may help.
We have a 4 year lease on a vehicle. We're currently at 3.5 years and we're looking at getting something else. The dealer has recommended I just go find another car at another dealer (as they don't have anything we want) and let them sell the car directly to that other dealer rather than me buying it out and trying to either privately sell it or just trading it in at the other dealer.
My understanding is if I hand the other dealer a $20,000 car I won't be taxed on $20,000 of the car I'm buying. (this is aprox. the right number by the way). If I buyout the lease I pay tax on the buyout.. so either way I pay tax somehow.
Anyways - if any you have experience with this sorta thing please chime in with what's going to benefit me the best.