Lease Trade In Question

[wbrownie]

I leased my R1S dual motor in August. After spending 3 months with it and seeing the TriMax interior and performance I'd like to trade in my Dual for a Tri. I got the buyout quote from Chase which includes sales tax. If I trade the Dual in on another lease will Rivian but out the lease? If so I assume they will not pay the sales tax so the buyout will be lower than me buying it. If so the trade in quote and buyout are only $3K apart which I can deal with. Otherwise it's like $10K if you include the sales tax.

Thanks for any advice!

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[donguanella]

It should be as simple as getting your buy-out price, getting your trade in price, and the difference is what you're on the hook for.

 

[ndmiller]

Depending on what state you live in, the tax may be lower as some state tax the difference (sale-trade).

 

[Hombre De Agua]

You shouldn't be paying sales tax when trading it in. Likely need to call chase to get a dealer pay-off which does not include tax. Since Rivian (the dealer) are ones buying it, and they don't pay sales tax on vehicle purchases.

 

[wbrownie]

You shouldn't be paying sales tax when trading it in. Likely need to call chase to get a dealer pay-off which does not include tax. Since Rivian (the dealer) are ones buying it, and they don't pay sales tax on vehicle purchases.

Thanks. I expect that will be the case when I get the trade in finalized.

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