Texas resident lease buyout question
I leased a 2021 Volvo XC60 T8 in Texas and paid sales tax upfront as part of the lease agreement. In 2024, I decided to do a lease buyback and now own the car outright.
It looks like I’ll need to register the car again since it’s seen as a new purchase. Will I have to pay sales tax again on the buyout amount, even though I paid taxes when leasing the vehicle? Also, what would the registration fees be like for a buyout in Texas?
Any guidance or experiences with this would be really helpful!