Hi, thank you for posting this video! I'm unable to buy the car outright and am thinking about financing the buyout. Do you know if that would get the same results if I sold the car to CarMax if the bank is holding the title?
thanks for the video. good information! I am currently in this exact process, i feel a little more clear having watched this. I submit my buyout payment 2 days ago. I am an AAA member, I need to go to clear the title at AAA before i can sell? you went to AAA to clear your title and then you still went to the DMV to pay you tax? was that DMV tax paid online? how was the tax paid in this process
Glad it was helpful! Generally, once your lease buyout is complete, what you’ll get in the mail from the finance company is that they’ve signed over title to you. What you need to sell (to a company like Carmax, to ensure the fastest/simplest/cleanest process possible) is to fully complete the transfer of ownership, which will result in clear title in your name. Where AAA comes into the picture, is that if you are an AAA member (at least here in CA), you can complete the title transfer process WITHOUT going to the DMV. AAA offers some DMV-related services in their branch offices, which might be more convenient for you than going to the DMV. They (AAA) will collect the fees/taxes from you right at AAA as they’re processing things…in my case, because I sold the car quickly, I later submitted to the state to get the taxes refunded.
Is it possible to hand over the title to a buyer as soon as you get it from the dealer? Essentially skipping the part when you have it signed in your name before you sell. I’m considering selling the car to a private party, they pay me enough to satisfy the buy out once the title arrives I’ll hand it over so they can put the car in their name. Or does it not work that way?
