|
|
06-24-2013, 09:31 PM | #1 |
Second Lieutenant
32
Rep 215
Posts |
Sale's tax on a lease
Well, my sales rep is telling me I have to pay the full boat of taxes even on a lease, at least here in Texas.
How is this handled? Rolled into the payment? Paid up front? That makes it harder to get the payment down when I have to use about $5k up front for taxes instead of a down payment. Additionally, the dealer has about $3k in part's bin upgrades (actually pretty desirable), but he tells me they are not subject to the residual, which further drives the payment up. Still learning the in's and out's of leases. I get the feeling this guy is trying to knife me. |
06-24-2013, 09:40 PM | #2 |
Brigadier General
476
Rep 4,153
Posts
Drives: 1/18 Monte Carlo Blue E92 M3
Join Date: Apr 2011
Location: Los Angeles
|
You pay tax on the monthly payment.
|
Appreciate
0
|
06-24-2013, 11:43 PM | #4 | |
Captain
44
Rep 790
Posts |
Quote:
want to know if you're getting "knifed"? present all of the elements of your deal here and maybe we can help you out. that means the full build on the car as well. just the parts and packages that they charge you for. please don't list things like "CF Roof" on an e92. wether you have one or not it doesn't effect the price. |
|
Appreciate
0
|
06-24-2013, 11:58 PM | #5 |
First Lieutenant
30
Rep 361
Posts |
Yeah, I see what you are saying. So when they say $0 down and $200 a month they really mean $0 down, plus $2k for taxes (hypothetical $25k car) and $200 a month. I really don't think that is the way it works. Because then after 2 years of leasing the car, you turn it back in to them, the dealership owns it, and they didn't have to spend a cent on the taxes.
I am not totally sure but I think it sounds a little crooked to me. I just leased a Hyundai Elantra (2 months ago) and if they would have added in the purchase price taxes ~$2k it would have really jacked up the whole payment. In my case the taxes were rolled into the whole equation and the amount of tax I paid was based upon how long of a lease term I signed.
__________________
|
Appreciate
0
|
06-25-2013, 12:06 AM | #6 | |
Captain
44
Rep 790
Posts |
Quote:
you're in cali, right? for us, it's added on in a monthly basis. which is a better deal,IMO. |
|
Appreciate
0
|
06-25-2013, 01:37 AM | #7 |
Brigadier General
1013
Rep 3,157
Posts |
Texas is the worst when it comes to sales taxes on leases. TX requires you to pay sales tax on the full value of the car, not just on the value of the lease or a percentage of the monthly payment like in other states. I believe it is required in a lump sum but the dealer can pay it upfront and roll it into the lease payment. TX taxes on leases suck, sorry bro...
__________________
Former Car: '16 SUNBURST GOLD F80 ///M3--6MT/Carbon Cloth (ED Thread) Former Car:'13 SANTORINI BLUE E92///M3--6MT/Speed Cloth/ZCP(ED Thread) INSTAGRAM:@C2KMotorsports |
Appreciate
0
|
06-25-2013, 09:08 AM | #8 | |
Second Lieutenant
32
Rep 215
Posts |
Quote:
New thread: http://www.m3post.com/forums/showthr...1#post14220771 |
|
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|