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The exact answer may be State specific, so check with your MVD to be sure. But, as presented - he buys the car, has title put in his names (and hence pays all fees, registrations, taxes, etc) to complete the transfer, and then sells it to you....and you repeat the process....Yes all fees, taxes etc. need to be paid by you (again). Think of it this way; if you did the same thing, but it was a few years after he had bought it, wouldn't you & he pay all those things? And expand on that, how about if you didn't meet him till next month? The timing & realtionship may not be relevant. One reasonable alternative is to see if the leasing company will let him chose which name they will set the title in if he pays off the residual. If he can just pay and have the car title delivered in your name, you'll be sure to avoid one of the transfer costs.
What else can I help you with?
What are the pros and cons of buying a house or leasing a house for only 6 months what are the tax exemption rules for leasing?
Leasing is a form of renting. With leasing, you lock in the rental amount per month for the term of the lease. You get no tax benefits. The tax benefits are applied when you purchase a house.
Where can one find more information about leasing versus buying a car?
You can find out about leasing versus buying a car on How Stuff Works. Other places with info about leasing versus buying cars is dmunds, and NN's site as well.
When taking into consideration the prices to lease a car is it better to buy?
The choice of either leasing or buying a car depends on the original price of the car; depending on the price, either leasing or buying can be the better option. However, buying a car is usually cheaper than leasing it.
Does leasing a car affect buying a house?
It depends, if you are buying a house in cash, it won't of course. Else, it would quite affect as it would be part of the assessment on your credit and liabilities that the mortgage company will do.
When one is buying options is it the same as leasing with option to buy?
When you are buying options it is considered the same as leasing with the option to buy. You can consult with your financial adviser for additional information on this process.
What is the advantage of leasing Rims and Tires as opposed to buying them?
The only advantage would be the intitla cost is less when leasing rims and tires.
What are the benefits of leasing equipment instead of buying it directly?
Leasing equipment is typically cheaper than buying the equipment directly. In addition, they are tax deductible and are usually easier to upgrade than when the equipment is bought.
What factors should I consider when deciding between leasing and buying a car, and where can I find a worksheet to help me compare the two options?
When deciding between leasing and buying a car, consider factors such as your budget, how long you plan to keep the car, your mileage needs, and your preference for ownership. You can find worksheets online from financial websites or car buying guides to help you compare the costs and benefits of leasing versus buying a car.
What are the advantages of personal car leasing compared to buying a car?
Buying a car has many advantages as well as disadvantages. Opposed to buying a car you have to pay a lot of money compared to leasing. In the end, it all depends on the balance of your bank account and how much do you think you should spend.
What are the benefits of buying a cargo van?
The benefits of buying a cargo van are for deliveries of computers for one's office or office space. It is cheaper in the long term than renting. With ownership, one can sell the van to upgrade without consulting with the leasing company.
Do you need car insurance to buy a car?
Are you leasing a car or buying it? Private fleet is one of the renowned car buying service providers in Australia and could prove very handy in your decision making. Buying a car on lease is an old practice. Novated leasing is getting extremely popular these days with more and more Australians taking car on novated lease. Novated Lease is equally beneficial to the employer, employee and the auto company. It is 3 way agreements between the employer, auto finance company and the employee that allows employers to provide company car to its employees at a very little cost to the company and flexibility to both the parties.
This question is asking the people if it is better to lease a new canon copier than buying a new canon copier.?
Leasing a machine of any kind has it's pros and cons, just like buying. Leasing means that you are purchasing the use of the machine, as opposed to the machine itself. You will have lower costs, but your usage is limited, and you can incur fees for going over what you have leased. However, if you don't use it too much and only need it for a certain amount of time, leasing is your better option.
