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      11-19-2012, 10:48 PM   #14
Private First Class
heartcolorgrey's Avatar

Drives: '13 ZCP AW/Speed Cloth
Join Date: Nov 2012
Location: NY

iTrader: (0)

Originally Posted by racsos View Post
if you were to lease and buyout at the end of the lease dont you pay taxes twice? First when you lease it and then when you buy it again? I am trying to understand it myself but i am being told that in IL it is like this and the bmw select does not sound so bad. that way you dont have to pay taxes twice.

someone please correct me if i am wrong please.

i am in IL and want to take over a leased car that is in new jersey and i really dont want to pay taxes twice.
This is correct,
I just started negotiating a deal for a '13 m3 coupe.

I was initially going to do the lease, but then found out you pay tax at the end of the lease on the buyout.

With select, yeah, you have a 25k balloon, but it was explained that with select you own title to the car, as with financing.

Lease you cant modify your car in anyway, Select you can.

So many $$ opinions though, its hard to choose between pros/cons, even for myself.