I have bought my car lease out and looking to sell it to a dealer. I was under the impression that once I receive my title I'm supposed to get it transferred in my name before I sell the car. However dealers (more than 1) are telling me I don't need to do that and can directly sell to them. Is this some sort of shady business practice or illegal or just some loop hole I'm unaware of?

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tobiasrfunke t1_ixaan27 wrote on November 21, 2022 at 11:05 PM

#607,713

I'm interested in the answer to this as well because I am also under the impression that you would need to register it and receive a title with your name on it before transferring the vehicle to a 3rd party.

spectacledninja OP t1_ixaayrf wrote on November 21, 2022 at 11:07 PM

#607,746

Replying to tobiasrfunke (#607,713)

That's what I was thinking but when I asked them about it they said its ok to just have the title without it being under my name. Either they're misunderstanding something or I got the wrong idea. Im trying to verify what they would have to do exactly in order to buy it from me without a title transfer. If I get a clear answer I'll put it up here.

ncgbulldog1980 t1_ixahfyu wrote on November 21, 2022 at 11:57 PM

#608,401

I am pretty sure I've done this before. Car dealerships have a "Dealer licenses" granted by the State. They are allow to do things with titles that a regular citizen cannot.

https://www.mass.gov/info-details/dealer-information

spectacledninja OP t1_ixaic7k wrote on November 22, 2022 at 12:04 AM

#608,481

Replying to ncgbulldog1980 (#608,401)

Interesting! Do you happen to know how they go about doing this? Like what the process looks like, I'm curious.

Unique-Public-8594 t1_ixair0e wrote on November 22, 2022 at 12:07 AM

#608,516

Replying to spectacledninja (#608,481)

It looks like paper processing.

spectacledninja OP t1_ixakq6m wrote on November 22, 2022 at 12:22 AM

#608,705

Replying to Unique-Public-8594 (#608,516)

Lol something they're really good at! 😄

tobiasrfunke t1_ixal0ng wrote on November 22, 2022 at 12:24 AM

#608,730

Replying to ncgbulldog1980 (#608,401)

How does this work for tax purposes? Isn't the OP technically responsible for the sales tax on the buyout (normally paid at the time of registration/titling)?

bubalusarnee t1_ixd8zdw wrote on November 22, 2022 at 3:59 PM

#616,682

They don't really want you on the CarFax. They're gonna sell it as a lease to used, and do not want a private owner added to the list. Private owners are the worst.

spectacledninja OP t1_ixd9oro wrote on November 22, 2022 at 4:04 PM

#616,776

Replying to bubalusarnee (#616,682)

Ahh ok. But by skipping the sales tax on it I'm putting myself in harms way right? Or is that typically how it goes?