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      03-23-2013, 08:26 AM   #23
izzyM3
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(CA) Don't confuse the taxes you pay during the lease. The amount taxed is the agreed current monthly lease payment(s). At the end of the lease you pay another tax of the residual.

This is where BMW's balloon payment program can be look at as an advantage if you project to buy the car at the end. The terms and regs are like your typical finance (no mileage limit or other lease issues later) but payments are still lower because there is a balloon payment at the end (usually less than the projected value of the car at the time so you can still trade, sell, etc. at the end of term). Taxes are already added calculated at the agreed sale price so by the end of term your last payments taxes is included.
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      03-23-2013, 02:09 PM   #24
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Quote:
Originally Posted by saeyedoc View Post
Yea, tell me about it. I did the owner's choice on my last 335i. With Porsche they get around it by using tax credits they get from lease turn ins. If you re-lease with Porsche Financial, you pay no tax on the new car as long as the credits are available. Nice way to keep you in the lease loop.
Yeah I got tax credits on my last lease with BMW. Saved a ton.
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      03-25-2013, 07:19 PM   #25
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Quote:
Originally Posted by CptSlow View Post
I looked at a payoff quote on my lease from BMWFS. I'm a little over half way through a 36 month lease. The payoff quote shows no sales tax. I'm trying to figure out if buying the car out equates to a refinance, hence no sales tax, or if I would be responsible to pay it on my own.

Salesman doesn't seem to know. BMWFS won't commit....

Does anyone have any experience with this?
The number you see on BMWFS includes sales tax. Click "Payoff Documents" to see the breakdown.
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      03-26-2013, 06:58 AM   #26
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Quote:
Originally Posted by Coltgus View Post
The number you see on BMWFS includes sales tax. Click "Payoff Documents" to see the breakdown.

That is incorrect, at least in the state where I live.
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      03-26-2013, 05:57 PM   #27
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Quote:
Originally Posted by CptSlow View Post
That is incorrect, at least in the state where I live.
Did you get the payoff documents ?
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      03-26-2013, 07:17 PM   #28
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Quote:
Originally Posted by Coltgus View Post
Did you get the payoff documents ?
Yes, and it specifically says that sales tax is not included.
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      03-26-2013, 07:41 PM   #29
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Quote:
Originally Posted by CptSlow View Post
Yes, and it specifically says that sales tax is not included.
I'm in Florida. mine shows :
Subtotal $65,163.59
Sales / Use Tax $2,576.93
Total Lease Payoff $67,740.52

I'll bet it has to do with the new Georgia law where you pay the tax when you register a car.
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      03-27-2013, 07:20 AM   #30
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Quote:
Originally Posted by Coltgus View Post
I'm in Florida. mine shows :
Subtotal $65,163.59
Sales / Use Tax $2,576.93
Total Lease Payoff $67,740.52

I'll bet it has to do with the new Georgia law where you pay the tax when you register a car.
That's very possible as there is a lot of confusion around exactly how that's working. Even the DOT employees seem a bit baffled by it.
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