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Lease tax in FL

bulldog92bulldog92 Posts: 6
edited January 2017 in Acura
If I lease a car in FL, do I pay tax on the entire purchase price or just the amount I pay on over the life of the lease. I am having trouble finding straight answer on this. Acura Tlx with tech package negotiated price $32000 and they want to tax me 6.5% on that entire $32k even though I only pay on about $15k of that throughout the lease. Is this correct?
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  • kyfdxkyfdx Posts: 148,386
    edited January 2017
    In Florida, the lease payment is taxed, and collected monthly. Upfront sales tax is only collected on amounts paid upfront (cap cost reductions, rebates, etc).

    Many lease quotes contain a lot of numbers that don't actually pertain to a lease. Those are meant to confuse you.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • buddahloubuddahlou Posts: 12
    As a person in Florida looking to lease soon, what are the only numbers we should be seeing? and too look out for as bogus numbers.

    Thanks
  • buddahloubuddahlou Posts: 12


    kyfdx said:
    In Florida, the lease payment is taxed, and collected monthly. Upfront sales tax is only collected on amounts paid upfront (cap cost reductions, rebates, etc). Many lease quotes contain a lot of numbers that don't actually pertain to a lease. Those are meant to confuse you.
    As a person in Florida looking to lease soon, what are the only numbers we should be seeing? and too look out for as bogus numbers.

    Thanks
  • kyfdxkyfdx Posts: 148,386
    buddahlou said:




    kyfdx said:

    In Florida, the lease payment is taxed, and collected monthly. Upfront sales tax is only collected on amounts paid upfront (cap cost reductions, rebates, etc).

    Many lease quotes contain a lot of numbers that don't actually pertain to a lease. Those are meant to confuse you.

    As a person in Florida looking to lease soon, what are the only numbers we should be seeing? and too look out for as bogus numbers.

    Thanks


    Acquisition fee
    Government fees (title/license)
    Dealer fees (watch out for these.. FL dealers tend to charge exorbitant fees ($600-$1000).. just for the privilege of selling you a vehicle.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • buddahloubuddahlou Posts: 12
    kyfdx said:

    buddahlou said:




    kyfdx said:

    In Florida, the lease payment is taxed, and collected monthly. Upfront sales tax is only collected on amounts paid upfront (cap cost reductions, rebates, etc).

    Many lease quotes contain a lot of numbers that don't actually pertain to a lease. Those are meant to confuse you.

    As a person in Florida looking to lease soon, what are the only numbers we should be seeing? and too look out for as bogus numbers.

    Thanks
    Acquisition fee
    Government fees (title/license)
    Dealer fees (watch out for these.. FL dealers tend to charge exorbitant fees ($600-$1000).. just for the privilege of selling you a vehicle.

    TY! you guys are invaluable.
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