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Smart Shopper Smart Shopper-Archives Lease Questions - Ask Here 
23872 messages, Last post on Sep 20, 2005 at 8:08 AM
You are in the Smart Shopper-Archives Forum. Your Hosts are kirstie_h & tidester
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Hello, I'm working a lease deal on a 2006 BMW 530i. In Texas (I live in Austin), sales tax must be paid on the full selling price. So, I'm trying to figure out if I pay the taxes in full at inception or roll them into the capitalized cost. The deal looks like this: 2006 BMW 530i MSRP $53,465 Sales Price $51,500 Acq Fee $825 Sales Tax (6.25%) $3223 Sec Dep $700 Residual 62% MF .00215 36 months; 12K miles/year Lease payment is ~$690/month So... 1) Does this look like a good deal? 2) How have others in Texas handled sales tax on a lease? Many thanks in advance, Sean |
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Car_man: Could you provide MF and residual for the following: 2006 Freestyle Limited, FWD, w/o Nav 12,000 miles per year 24, 36, 48 month lease 2006 Explorer Limited, 4x2, w/o Nav 12,000 miles per year 24, 36, 48 month lease Thanks/// |
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Gurus - On a lease - do you calculate your tax on the negotiated sales price of the car then divide by your number of months or do you calculate your monthly lease payment then multiply that by your tax rate ? |
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Replying to: dpav (Sep 17, 2005 5:17 am)
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Replying to: kyfdx (Sep 17, 2005 7:24 am) |
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Replying to: kyfdx (Sep 17, 2005 7:24 am) Ning |
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Car_man, do you have the data for the 2006 Honda Accord V6 models? In particular, could you post the residual values and money factors for LX V6 and EX V6, automatic trans. w/o Navi., for 24 month and 36 month terms? Thank you. Ning |
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Replying to: dpav (Sep 17, 2005 5:17 am) In NY, you multiply your monthly payment by the tax rate (ie, you pay tax on only your depreciation portion, but also on the interest as well). In NJ, you calculate your total tax by multiplying the tax rate by the depreciation portion (selling price - residual). Then you spread that over the term of your lease. ie, no tax on interest. |
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Hi allinde. I am a little confused by what you mean by "Due to an issue with forged second lease on this car." Are you saying that the dealer that you are working with gave you a better than normal deal on your current lease because you caught them trying to cheat you the first time around? Individual dealers do not have the authority to alter banks' published residual values, so it is not possible that the dealer that you are working with gave you a lower than normal residual on your Grand Cherokee. The only thing that they could have done for you is to lower your truck's selling price, which would in turn lower your lease payment on it. If your leased vehicle is indeed worth more on the open market than you would have to pay for it then it would be a good idea to purchase it and try to sell it on your own or trade it in on your next new vehicle. Car_man Host Smart Shopper / Prices Paid Forums |
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Hello krwest1. I am sorry to say that I have not seen Mazda's lease program for the 2006 MX-5 yet. Sorry that I could not be of more help. Car_man Host Smart Shopper / Prices Paid Forums |
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