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      06-22-2012, 04:47 PM   #1
gnhm3
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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.
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      06-22-2012, 06:58 PM   #2
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That's how it is. Have to pay tax on a lease. Either up front or monthly.
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