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Chevy Lease Transfer Questions (IL to CA)

bimmerwallbimmerwall Posts: 9
edited September 2016 in Chevrolet
I'm looking to do a Illinois to California lease swap through Ally. I've done a few in the past, but never from a state that has confusing tax issues like Illinois. What are the hang ups on a transfer? Will I owe a huge amount at the start of my swap? Will the taxes already paid by the previous owner count for anything against the taxes due on the car?

And if I were to trade the vehicle in with positive equity, could any Chevrolet dealership accept the lease?

Thanks!

Comments

  • kyfdxkyfdx Posts: 100,510

    I'm looking to do a Illinois to California lease swap through Ally. I've done a few in the past, but never from a state that has confusing tax issues like Illinois. What are the hang ups on a transfer? Will I owe a huge amount at the start of my swap? Will the taxes already paid by the previous owner count for anything against the taxes due on the car?

    And if I were to trade the vehicle in with positive equity, could any Chevrolet dealership accept the lease?

    Thanks!

    I would be worried, because they have already paid the sales tax upfront in Illinois, but CA taxes the monthly payment, so the lease payment might be going up by 8%-10%.

    Frankly, I wouldn't do it.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Thank you for your help. Didn't do it.
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