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Lease Termination Fees and other costs

1039 messages,  Last post on Dec 03, 2009 at 10:15 AM

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#27 of 1039 Repayment of personal property tax! by jab3 Jul 12, 2004 (6:55 pm)
Just ended a lease with Provident Automotive Leasing. On the lease settlement there is a line for Personal Property Tax. Does anyone know what this is for and is this common when you turn in a leased vehicle at maturity. Replies to this message: carguy79 (Jul 13, 2004 10:51 am)
#28 of 1039 Re: Repayment of personal property tax! [jab3] by carguy79 Jul 13, 2004 (10:51 am)
Replying to: jab3 (Jul 12, 2004 6:55 pm) Personal property tax is not determined by the bank, it is required by some states. I handle lease end for several clients and this is a common fee. Most states I have dealt with, that charge this tax, collect this tax in the arrears. (2003 tax due Jan 1 2004)
#29 of 1039 My leasing rip off story -- what to do now by faizur Jul 13, 2004 (7:24 pm)
I signed a lease back in Nov. 2000 for 4 years which is due this Nov. Long story short, they cheated me and I signed the lease without understanding it, any way trying to give back the car and get couple of thousands, finally, they agreed to get back the car and will pay for remaining 3 months, but at least I want my personal property tax back and want them to address me an agreement not to charge for excess wears and tears and pay for year 2003 property tax. They might agree with some of those agreements. It is a 2001 honda accord car, 485 monthly payment, 12k/yr, 13K residual, cap cost was 27k, rent charge 9.5K, huh, shame on me.   Now I want to know, what should I do? I need a car, but don't have any cash in hand, fair credit history, but stable job and last 45 months of Auto payment.   I really appreciate any suggestions and good advice in this regard. Replies to this message: fish8 (Jul 14, 2004 4:23 am)
#30 of 1039 Re: My leasing rip off story -- what to do now [faizur] by fish8 Jul 14, 2004 (4:23 am)
Replying to: faizur (Jul 13, 2004 7:24 pm) I am having trouble following your post. Why are you asking them to pay your property tax? What does that have to do with the car lease? Also, why would the lease company sign something stating that they will waive excess wear and tear charges? Why not just give the car back and be done with it?
#31 of 1039 there is more to this by audia8q Jul 15, 2004 (7:19 am)
This is the line I have trouble with...   "they cheated me and I signed the lease without understanding it.."   why try to blame others for your own foolish decision? Why would you sign a financial contract without understanding what your singing?? Did they hold a gun to your head and say "sign or else?"   Whatever happend to being accountable for your own actions?   FISH8....some states have personal property tax on cars. Here in CT a $20K car will cost you $400-800 per year depending on your town tax rates. Replies to this message: fish8 (Jul 15, 2004 8:28 am) faizur (Jul 15, 2004 5:53 pm) fish8 (Jul 16, 2004 3:30 am)
#32 of 1039 Re: there is more to this [audia8q] by fish8 Jul 15, 2004 (8:28 am)
Replying to: audia8q (Jul 15, 2004 7:19 am) Here in Ga, we have a similar tax...called ad velorum tax. But, my confusion was why would he/she expect the dealer or manufacturer to pay for the tax on the car? That is one's personal responsibility to pay if they own or lease a car. Replies to this message: faizur (Jul 15, 2004 5:53 pm) fish8 (Jul 16, 2004 3:30 am)
#33 of 1039 Re: there is more to this [fish8] by faizur Jul 15, 2004 (5:53 pm)
Replying to: fish8 (Jul 15, 2004 8:28 am) They put me on a lease saying buying and leasing is same which is not true. That's why I need the Property tax back which I shouldn't pay if I purchase the vehicle what I was intended at that time. Replies to this message: fish8 (Jul 16, 2004 3:30 am)
#34 of 1039 Re: there is more to this [faizur] by fish8 Jul 16, 2004 (3:30 am)
Replying to: faizur (Jul 15, 2004 5:53 pm) It is very unfortunate, but that is not the dealers fault, it is the purchaser's. It is their responsiblity to research and make sure they understand all contracts prior to signing. Here in GA, a salsman can say ANYTHING (lies) to get you to buy the car and it is not illegal.   Also, at least in GA, you pay "property tax" whether you buy OR lease.
#35 of 1039 Faizur ......... by rroyce10 Jul 16, 2004 (4:08 am)
.... ** They put me on a lease saying buying and leasing is same which is not true **               If your Real Estate agent said: "buying and leasing is the same", would you still lease the property.? .. come on, lets be honest here, your blaming the dealer for "your" decision ......                              Terry. Replies to this message: blueiedgod (Jul 23, 2004 7:42 am)

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