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2014 Honda Odyssey Texas sales tax leasing question and partial lease quote
I got the following quote from a dealership in Austin, TX, for a 2014 Odyssey EX with cloth and no options:
- Sales price - $28,997
- Net cap cost - $29,155
- Residual - 56%
- Money Factor - .0017
There is a $2,500 cap cost reduction that the dealer says is from Honda - lease support maybe?
I am turning in a 2011 Odyssey EX and the dealer is NOT including any trade-in value for my 2011, so the sales tax is 6.25% of the sales price of the new vehicle. This is a different dealer than I usually use. My usual dealer has always included at least the residual value of my last two lease turn-ins in the sales tax calculation. In other words, in my last two Odyssey leases I have paid sales tax on the difference between the new vehicle's sales price and the trade-in allowance I was given for my turn in.
The new dealer is arguing with me that I am wrong but I have done two leases this way. Does anyone know which way is correct, or is this just the dealer's choice? It is really annoying that the sales guy and the sales manager are basically telling me that I don't know what I am talking about.
Also, can anyone confirm the lease support, residual and/or money factor I was offered? I know the March program just started last week but I am just curious if anyone has that info.
Thanks in advance for any help.