Residents must annually register motor vehicles owned or leased for a period of more than 30 days and operated by them, unless currently registered in Vermont. A Resident who has moved to Vermont from another jurisdiction must register their motor vehicles within 60 days of moving to Vermont. It is illegal for a person to operate a motor vehicle or draw a trailer or semi-trailer on any highway unless such vehicle is registered.
When you purchase your leased vehicle, you change the ownership of the vehicle. The lessor owns a leased vehicle with the lessee listed on the registration. Following a lease buyout, you must re-register and re-title the vehicle in your name. When you do this, the registration on your leased vehicle ends, and you begin a new registration term; the time remaining on the leased vehicle’s registration does not transfer to the new vehicle.
If you renew the registration on a leased vehicle immediately before you buy out your lease, that registration time will not transfer to the new vehicle.
When you purchase a leased vehicle, the lessor should provide you with the title of the vehicle signed over to you. Bring that title and bill of sale to any DMV office to re-register and retitle the vehicle in your name.
You will be responsible for a new registration fee, title fee, and 6% purchase and use tax on the vehicle's residual value. You may keep your existing plates, but the time on those plates will start over when you re-register the vehicle.