Question about assuming a lease from another state and taxes.
I am currently in the process of assuming a lease from a guy who lives in New Jersey and his payment is right around $800 a month. When I tried filling out the credit app online the payment jumped to $870. We called BMWFS and they said that he didn't have to pay any taxes or something along those lines but once I register it in California then a tax rate of 8.75% would be applied.
Does anyone have an experience with this? Any input would be appreciated. Thanks.