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05-17-2016, 08:49 AM | #1 |
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Vehicle lease tax in Texas ?
Can I roll them in the monthly payment ? Bmw said I could. But when I went to tax office, they didn't really know the answer. I didn't have my inspection form. TIA
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05-17-2016, 09:35 PM | #2 |
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I don't think so. They are likely using their owner's choice option as a lease like alternative. In Texas taxes are paid up front for the full value of the car.
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05-19-2016, 07:14 AM | #3 |
PAZUZU
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Lease/property tax differs from sales tax.
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05-19-2016, 09:31 AM | #4 |
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Well Texas does not have a vehicle property tax and there are no taxes levied directly on a lease payment afaik - it's all taxes due to the state for the value of the car, also known as sales tax.
In Texas the leasing entity must pay the state the full sales tax based on the value of the vehicle at the time of the lease. This of course is passed directly to you in the form of a hefty TT&L payment up front. No leasing agency is going to wait to recoup the taxes paid to the state over a 24-36 month lease period. BMW has 'Owners Choice' which is just a traditional loan with a balloon payment option after some number of payments. You can pay it off or turn it in. |
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05-19-2016, 09:52 AM | #5 | |
PAZUZU
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Quote:
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