ClubLexus - Lexus Forum Discussion

IS - 2nd Gen (2006-2013) Discussion about the 2006+ model IS models

Lease offer from dealer (NY): What do you think?

Thread Tools
 
Search this Thread
 
Old 12-26-07, 03:33 PM
  #16  
Joeb427
Lexus Fanatic
iTrader: (1)
 
Joeb427's Avatar
 
Join Date: Aug 2007
Location: SC
Posts: 11,670
Received 17 Likes on 16 Posts
Default
Originally Posted by SAFNYC
The monthly payment for a lease consists of, at least, the monthly depreciation fee and the finance charge from the leasing company. Sales tax is definitely paid on the sum of these two fees. You may not want to roll the bank fee and other dealer/DMV fees in to the monthly fee, but that does not mean you won't pay taxes on them. So I would not look at sales tax by saying "you only pay tax on the monthly payment", because, as in my case, I am paying the bank fee and other dealer/DMV fees upfront but I am also paying tax on those fees.

SAF
In Jersey you don't pay sales tax on DMV fees.I don't believe you pay sales tax on bank fees..
You pay sales tax on your monthly lease payment.
Last edited by Joeb427; 12-26-07 at 03:59 PM.
Joeb427 is offline  
Reply Like
Old 12-26-07, 03:57 PM
  #17  
SAFNYC
Driver School Candidate
Thread Starter
 
SAFNYC's Avatar
 
Join Date: Oct 2007
Location: New York
Posts: 44
Likes: 0
Received 0 Likes on 0 Posts
Default
Originally Posted by Joeb427
In Jersey you don't pay sales tax on DMV fees.I don't believe you pay sales tax on bank fees..
You pay sales tax on your monthly lease payment.
I have to check on this for New York. I'll bet it differs from state to state. Thanks for bringing this to light

SAF
SAFNYC is offline  
Reply Like
Old 12-26-07, 03:59 PM
  #18  
Joeb427
Lexus Fanatic
iTrader: (1)
 
Joeb427's Avatar
 
Join Date: Aug 2007
Location: SC
Posts: 11,670
Received 17 Likes on 16 Posts
Default
Originally Posted by SAFNYC
I have to check on this for New York. I'll bet it differs from state to state. Thanks for bringing this to light

SAF
Good idea.
Check NY.


In October 2005 NJ changed the way they collect sales tax on leases.

Sales tax in NJ is now based on the monthly payment, paid up front.
Joeb427 is offline  
Reply Like
Old 12-26-07, 10:09 PM
  #19  
z4frosik
Pole Position
 
z4frosik's Avatar
 
Join Date: Dec 2007
Location: NY
Posts: 354
Likes: 0
Received 1 Like on 1 Post
Default
I have 2006 is 250awd with the premium package no navi and i pay 350 a month with 4gees down.
z4frosik is offline  
Reply Like
Old 12-27-07, 05:32 AM
  #20  
mark5
Rookie
 
mark5's Avatar
 
Join Date: Mar 2007
Location: fort lee
Posts: 61
Likes: 0
Received 0 Likes on 0 Posts
Default
Originally Posted by z4frosik
I have 2006 is 250awd with the premium package no navi and i pay 350 a month with 4gees down.
where did you get it? that's better than what i'm paying!
mark5 is offline  
Reply Like
Old 12-27-07, 10:49 AM
  #21  
z4frosik
Pole Position
 
z4frosik's Avatar
 
Join Date: Dec 2007
Location: NY
Posts: 354
Likes: 0
Received 1 Like on 1 Post
Default
Rally lexus in glencove
z4frosik is offline  
Reply Like
Old 12-27-07, 03:32 PM
  #22  
SAFNYC
Driver School Candidate
Thread Starter
 
SAFNYC's Avatar
 
Join Date: Oct 2007
Location: New York
Posts: 44
Likes: 0
Received 0 Likes on 0 Posts
Default
Originally Posted by z4frosik
I have 2006 is 250awd with the premium package no navi and i pay 350 a month with 4gees down.
Thanks, but I can't compare my deal with your deal because you don't have the NAV, and not to mention your car is a 2006.

SAF
SAFNYC is offline  
Reply Like
Old 01-01-08, 07:24 PM
  #23  
SAFNYC
Driver School Candidate
Thread Starter
 
SAFNYC's Avatar
 
Join Date: Oct 2007
Location: New York
Posts: 44
Likes: 0
Received 0 Likes on 0 Posts
Default
This deal is done.

$0 down, sales tax, dealer, DMV, etc, fees upfront.

$450 month
SAFNYC is offline  
Reply Like
Old 01-02-08, 08:01 AM
  #24  
mark5
Rookie
 
mark5's Avatar
 
Join Date: Mar 2007
Location: fort lee
Posts: 61
Likes: 0
Received 0 Likes on 0 Posts
Default
Originally Posted by SAFNYC
This deal is done.

$0 down, sales tax, dealer, DMV, etc, fees upfront.

$450 month
soulds like a great deal, what was the total out of pocket at signing and what dealer?
mark5 is offline  
Reply Like
Old 01-02-08, 08:03 AM
  #25  
Joeb427
Lexus Fanatic
iTrader: (1)
 
Joeb427's Avatar
 
Join Date: Aug 2007
Location: SC
Posts: 11,670
Received 17 Likes on 16 Posts
Default
Originally Posted by SAFNYC
This deal is done.

$0 down, sales tax, dealer, DMV, etc, fees upfront.

$450 month
$450 including sales tax?
Joeb427 is offline  
Reply Like
Old 01-02-08, 03:45 PM
  #26  
SAFNYC
Driver School Candidate
Thread Starter
 
SAFNYC's Avatar
 
Join Date: Oct 2007
Location: New York
Posts: 44
Likes: 0
Received 0 Likes on 0 Posts
Default
Originally Posted by mark5
soulds like a great deal, what was the total out of pocket at signing and what dealer?
Out of pocket cost due at delivery is $2400. The breakdown is...

$1,400 sales tax
$600 bank fee
...and the rest is tire, DMV, and other bull***** fees.

SAF
SAFNYC is offline  
Reply Like
Old 01-02-08, 03:46 PM
  #27  
SAFNYC
Driver School Candidate
Thread Starter
 
SAFNYC's Avatar
 
Join Date: Oct 2007
Location: New York
Posts: 44
Likes: 0
Received 0 Likes on 0 Posts
Default
Originally Posted by Joeb427
$450 including sales tax?
No, $450 is the monthly payment for the depreciation and financing. The sales tax is about $1400, and I am paying that up front.

SAF
SAFNYC is offline  
Reply Like
Old 01-02-08, 03:49 PM
  #28  
Joeb427
Lexus Fanatic
iTrader: (1)
 
Joeb427's Avatar
 
Join Date: Aug 2007
Location: SC
Posts: 11,670
Received 17 Likes on 16 Posts
Default
Originally Posted by SAFNYC
No, $450 is the monthly payment for the depreciation and financing. The sales tax is about $1400, and I am paying that up front.

SAF
NY is different than NJ.
In Jersey you pay sales tax on your payment.
Joeb427 is offline  
Reply Like
Old 01-02-08, 03:51 PM
  #29  
SAFNYC
Driver School Candidate
Thread Starter
 
SAFNYC's Avatar
 
Join Date: Oct 2007
Location: New York
Posts: 44
Likes: 0
Received 0 Likes on 0 Posts
Default
Originally Posted by Joeb427
NY is different than NJ.
In Jersey you pay sales tax on your payment.
Is that mandatory? If it is, that means you are getting hit with financing charges on the sales tax. I paid the sales tax upfront to avoid that.

SAF
SAFNYC is offline  
Reply Like
Old 01-02-08, 03:54 PM
  #30  
Joeb427
Lexus Fanatic
iTrader: (1)
 
Joeb427's Avatar
 
Join Date: Aug 2007
Location: SC
Posts: 11,670
Received 17 Likes on 16 Posts
Default
Originally Posted by SAFNYC
Is that mandatory? If it is, that means you are getting hit with financing charges on the sales tax. I paid the sales tax upfront to avoid that.

SAF
I leased a car about 12 years ago and I think I only paid sales tax on my payment and not on bank fees and down payment.
Joeb427 is offline  
Reply Like



Advanced Search
Quick Reply: Lease offer from dealer (NY): What do you think?


Reply Closed Thread Share
Forum Jump

All times are GMT -7. The time now is 01:24 AM.