When you buy out a lease in New York, you need a title in your name before you can sell or transfer the car. Take the leasing company’s signed title, your buyout agreement and the forms below to a DMV office, and pay a $50 fee plus sales tax. The title is mailed to you.
What you need
- MV-82 (registration and title) or MV-82TON (title only, for a 1973 or newer vehicle)
- Proof of identity: a NY license, permit or non-driver ID, current or expired no more than 2 years
- The title, with buyer and seller sections completed by you and the leasing company, plus odometer and damage disclosures where required
- Your lease buyout agreement
- DTF-802, Statement of Transaction, and MV-912, Vehicle Bill of Sale
- Lien release(s), if any lien is recorded
- $50 fee, and money for sales tax
Step by step
- Get the title from the leasing company. It must show the sale to you. The odometer and damage disclosure statements are required for vehicles from model year 2011 on that are 20 model years old or newer.
- Fill in MV-82 if you also need to register, or MV-82TON if you only need the title.
- Fill in DTF-802 and MV-912 with the buyout price, for sales tax.
- Go to a DMV office and be ready to pay sales tax on the spot, plus the $50 fee.
- Wait for the title in the mail. An office can’t hand it over.
Bought it from a New York dealer instead?
If you bought the car from a NY dealer rather than straight from the leasing company, you can mail the documents instead: MV-82 or MV-82TON, proof of identity, the title, the dealer’s Retail Certificate of Sale (MV-50), any lien release and the $50 fee, to Title Services Bureau, New York State DMV, 6 Empire State Plaza, Albany, NY 12228.
Questions: Title Services Bureau, 1-518-486-4714, 8:30 a.m. to 4:00 p.m., Monday to Friday.