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Prices Paid: Buying & Leasing Experiences Subaru Forester Prices Paid and Buying Experience
2724 messages, Last post on Nov 05, 2009 at 2:58 PM
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Replying to: slazenger (Oct 27, 2006 11:08 am) So a 5 year old car would hold about 40% of its value. And that's before you even factor in your high mileage. -juice |
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Someone *please* help me understand taxes on a lease. Note: I'm in NJ. I'm leasing and the Subaru dealer is telling me that Bank Fee ($595) and Doc Fee ($110) are both taxable and that tax is computed (whether I pay upfront or not) based on lease payment times term, so $XXX times 36. I thought if I paid upfront, which is an option in NJ, I would not be taxed on the finance fee part of the lease payment, rather only the depreciation cost of the vehicle (Cost-Residual). If I can pay tax upfront and save a few bucks by not having to pay tax on the finance fee, I'll do it, otherwise I'll blend into the monthly payment (the monthly difference is $30/mo). Thanks! Can anyone clear this up for me. AND are bank fee and doc fee really taxable? |
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Replying to: cdnj1 (Oct 27, 2006 1:22 pm) 36 month; 12k/yr Residual: 56% MF: .00280 Thanks.
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Replying to: cdnj1 (Oct 27, 2006 2:09 pm) 
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Replying to: cdnj1 (Oct 27, 2006 1:22 pm) * The portion of the lease payment attributable to the payoff of a prior loan on a trade-in vehicle (negative equity) is not included in the tax base. * The portion of a lease payment attributable to the buy-out of a prior lease is not included in the tax base. * Acquisition fees are included in the tax base. * Capital cost reduction payments are included in the tax base. * Other lessor charges, unless specifically excepted by a ruling or rule (such as title and registration fees, see below) are included in the tax base, regardless of their designation. * Fees commonly known as “MV Fees,” which are imposed by the State, including title and registration fees, are not included in the tax base. * Reimbursed coupons or rebates, regardless of whether directed toward payment of up-front fees or credited as a capital cost reduction payment, are included in the tax base. * The allowed value of a trade-in which was owned by the customer and is taken by the dealer for re-sale is credited against the tax base for purposes of computing the sales tax. * Dealer documentation fees are included in the tax base. |
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Replying to: cdnj1 (Oct 27, 2006 2:09 pm) |
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Yes, that's what the extra five hundred is. But you got 700 Subaru Bucks offered? Man that's killer. That would probably do it for me. I am also like Slazenger in that my Forester is trouble free and I love it. And my girlfriend is not too keen on this and I have to take the color I get. They are making it tempting though...which is I guess their purpose. How did that 700 Subaru Bucks thing work?
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Replying to: kavoom (Oct 28, 2006 3:51 am) A white X Premium. I think this is about as good as it gets. Reading off the form MSRP 24910 dealer discount 1632 Loyalty Discount 500 Additional discount 300 Rebate 500 Sub total 21,978 I then went and decided later to go with the 5.9% financing and had to give back the 500 rebate. So, final of 22,478 Taxes 709.76 and 99 buck document fee and 1.00 tire disposal (state fee) for a total of 23,387 including taxes Title and all fees... It has one of the mirror packages shock sensor? Oh and I get the 300 Subaru Bucks. How's that. I pick it up on Monday.
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Replying to: kavoom (Oct 28, 2006 7:57 pm)
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Additionally, I wonder if someone may kindly share your experience on the $500 customer cash in this month, October, per Subaru special offer. Is it considered as a Rebate, which will be applied after tax or an Incentive or something similar, which will be applied before tax? Many thanks.
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