Can I keep my license plates when I buy out my lease? | Ask the RI DMV
Q: I got a car through a leasing company and they registered the car. About a year later, my mom gifted me plates, and I put them on my leased car. Now that my lease is up, and I'm going to be buying out the car, can I keep my plates?
— Jamie F.
A: You can certainly keep your plates.
When you do your lease buyout (or when you finish your lease and opt to not buy it), ask the leasing company for a plate release letter giving/gifting you your plate back. We will then put it back on that vehicle when you register it in your own name or put it on another vehicle you may have.
There are certain documents required for lease buyouts, and I have them listed below. All this information, as well as all DMV forms, can be found on our website (dmv.ri.gov).
Lease buyout requirements:
Application for registration TR-1
If two owners on title, both parties must be present during registration. If not, the signature of the absent party must be notarized on an application for registration. Please make sure the notary follows the Secretary of State’s requirements for notaries. Inked notary stamps are required.
Original title (no copies)
Seller and buyer must sign the back of the title
Vehicle Identification Number check: If the title is from another state or the vehicle was registered in another state, a VIN check is required before you register the car.
Bill of Sale from Leasing Company
Original lease agreement
Gross vehicle weight (GVWR found on VIN plate on driver's side door jamb or the title)
Valid RI insurance information
RI license or identification card. If a valid out-of-state license is presented, proof of residency is required.
Chuck Hollis is assistant administrator of the Rhode Island Division of Motor Vehicles. Please email your questions to cars@providencejournal.com with “Ask the DMV” in the subject field.
This article originally appeared on The Providence Journal: Can I keep my license plates when I buy out my lease? | Ask the RI DMV
