DirkGOAT10 OP t1_j6njl5b wrote on January 31, 2023 at 4:25 PM Reply to comment by Jaded-Wolverine-686 in Buying Out Mothers Auto-Loan by DirkGOAT10 Thanks! So this is in Texas so tax is already paid. Even so, I would have to disagree - An 2-3k (after fees) for my Mother would be huge for just a few weeks of keeping the car then flipping to Carmax. Permalink Parent 1
DirkGOAT10 OP t1_j6izlkk wrote on January 30, 2023 at 5:54 PM Reply to comment by Jaded-Wolverine-686 in Buying Out Mothers Auto-Loan by DirkGOAT10 Apologies,The lease is through Toyota.Basically she can "buy" the car for 18k, and then sell it to Carmax for 22k. Permalink Parent 1
DirkGOAT10 OP t1_j6izkxh wrote on January 30, 2023 at 5:54 PM Reply to comment by nails_for_breakfast in Buying Out Mothers Auto-Loan by DirkGOAT10 Apologies, The lease is through Toyota. Basically she can "buy" the car for 18k, and then sell it to Carmax for 22k. Permalink Parent 1
DirkGOAT10 OP t1_j6fxy99 wrote on January 30, 2023 at 1:26 AM Reply to comment by [deleted] in Buying Out Mothers Auto-Loan by DirkGOAT10 I feel so silly - Quick google search shows Carmax will in fact buy your car even with a loan attached. Thanks so much. So sounds like I would only need to do the whole process if i try to sell to a 3rd party Permalink Parent 9
Buying Out Mothers Auto-Loan Submitted by DirkGOAT10 t3_10ooqf3 on January 30, 2023 at 1:20 AM in personalfinance 11 comments 7
DirkGOAT10 OP t1_j6njl5b wrote
Reply to comment by Jaded-Wolverine-686 in Buying Out Mothers Auto-Loan by DirkGOAT10
Thanks! So this is in Texas so tax is already paid.
Even so, I would have to disagree - An 2-3k (after fees) for my Mother would be huge for just a few weeks of keeping the car then flipping to Carmax.