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Vehicle Sales Tax Questions

947 messages,  Last post on Nov 23, 2009 at 10:05 AM

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What is this discussion about? Car Financing, Car Leasing


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#859 of 947
Not to change the subject but by lokki
Feb 02, 2009 (9:12 am)
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Here's a pretty good website from the State of Texas on private party sales tax -
 
Apparently the state got tired of people declaring that that famous $1.00 sales price for a used car, and started collecting sales tax on the standard presumtive value of the vehicle, based on (Kelly, Edmunds TMV, Smoke Signals?) but still a good place to get a snapshot of what your car is really worth.
 
The site allows you to enter a VIN and the odometer reading on a car and get the "Standard Presumtive Value" of the vehicle.
 
Interesting reading, but - caution! - it can be depressing.
#860 of 947
Re: Not to change the subject but [lokki] by tallman1
Feb 02, 2009 (9:27 am)
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Replying to: lokki (Feb 02, 2009 9:12 am)

I'm guessing that you forgot to supply the link.
#861 of 947
Re: Not to change the subject but [tallman1] by lokki
Feb 02, 2009 (11:10 am)
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Replying to: tallman1 (Feb 02, 2009 9:27 am)

http://www.dot.state.tx.us/drivers_vehicles/vehicle_titles/std_presumptive_value- .htm
 
  Oh Dear!
#862 of 947
Sales Tax Increase by spk55
Mar 11, 2009 (2:45 pm)
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I live in Los Angeles, where the sales tax is about to go up to 10% on April 1st. It is currently 8.25%. Does anyone know if the sales tax on my lease will go up if I close the deal by the end of March?
#863 of 947
Re: Sales Tax Increase [spk55] by euphonium
Mar 11, 2009 (9:29 pm)
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Replying to: spk55 (Mar 11, 2009 2:45 pm)

If the lessor buys before April Fools Day, the ST is whatever is in effect at the time of that purchase.
#864 of 947
Re: Sales Tax Increase [spk55] by volvomax
Mar 12, 2009 (9:26 am)
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Replying to: spk55 (Mar 11, 2009 2:45 pm)

If you pay tax on the payment each month, then your tax rate will go up.
#865 of 947
Re: Sales Tax Increase [volvomax] by kyfdx HOST
Mar 12, 2009 (12:03 pm)
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Replying to: volvomax (Mar 12, 2009 9:26 am)

Yup.. I can't see how it would be any other way...
#866 of 947
Re: Sales Tax Increase [volvomax] by euphonium
Mar 12, 2009 (3:01 pm)
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Replying to: volvomax (Mar 12, 2009 9:26 am)

Wasn't the ST paid by the Lessor before 1 April 8.25%? Thus his cost of leasing is based on 8.25% because the Lessor bought and paid for the car before 1 April.
 
How does it work out the Lessee has to pay 10% after 1 April?
#867 of 947
Re: Sales Tax Increase [euphonium] by tidester HOST
Mar 12, 2009 (3:45 pm)
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Replying to: euphonium (Mar 12, 2009 3:01 pm)

I believe the customer is responsible for the sales tax so the lessor would not have paid it. Otherwise, it would be similar to a dealership paying sales tax for "buying" from the manufacturer. Perhaps one of the salespeople can help us out on this one?
 
tidester, host
SUVs and Smart Shopper
#868 of 947
Re: Sales Tax Increase [euphonium] by kyfdx HOST
Mar 13, 2009 (5:43 am)
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Replying to: euphonium (Mar 12, 2009 3:01 pm)

No... the lessor doesn't pay the sales tax in advance in California, even though they purchase the car.. Since they aren't the end user, they don't pay the tax.
 
The tax is collected monthly on the rental of the car. When the tax rate goes up, the lease payment will reflect that.
 
Of course, other states that do collect the tax upfront will have different rules.
 
regards,
kyfdx
visiting host

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