Car Buying Advice - KIA Sportage / Calculate sales tax in NJ?
polarbear22
Member Posts: 4
I am looking to lease a 2017 Kia Sportage EX AWD with Premium package. Term is 36/12 and I am in NJ
MSRP:
Price including incentives:
Money Factor:
Residual:
What can I expect in fees (right now they are asking for doc and bank fee approximately 1K)
Also to figure out sales tax, I am just applying the NJ rate to the monthly payment I calculated including the finance fee. Is that correct? How should I calculate the sales tax. They are telling me it is $985 which seems high when I calculated it off the total depreciation value. Do you pay tax after the incentives or before they are applied?
Thanks so much for your time.
MSRP:
Price including incentives:
Money Factor:
Residual:
What can I expect in fees (right now they are asking for doc and bank fee approximately 1K)
Also to figure out sales tax, I am just applying the NJ rate to the monthly payment I calculated including the finance fee. Is that correct? How should I calculate the sales tax. They are telling me it is $985 which seems high when I calculated it off the total depreciation value. Do you pay tax after the incentives or before they are applied?
Thanks so much for your time.
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Comments
MSRP (EX AWD w/ Premium Pkg): $30,195
Estimated average sales price in NJ: $28,756
Incentives: $3000
Money Factor: .00131
Residual: 58%
Fees are hard to estimate because they can vary from dealer to dealer especially in a state like NJ where the Documentation fee isn't regulated: https://www.edmunds.com/car-buying/what-fees-should-you-pay.html. Acquisition fee from KIA should be $595.
Tax is levied on the total number of lease payments in NJ.
Try using this calculator: https://leasehackr.com/calculator/