2018 Nissan Murano SV AWD

leogrande

I am looking for the current MF and RV for 2018 Nissan Murano SV AWD 36/12.

I am new to auto leasing, how do they calculate Sales Tax in NY state (10566)?
Is this formula correct: (Vehicle price - residual value) x NY state tax rate?
Do they include Sales Tax into the Gross Cap Cost?
Is Sale Tax included into the "Due at Signing"?

Thanks.

kyfdx

leogrande said:

I am looking for the current MF and RV for 2018 Nissan Murano SV AWD 36/12.

I am new to auto leasing, how do they calculate Sales Tax in NY state (10566)?
Is this formula correct: (Vehicle price - residual value) x NY state tax rate?
Do they include Sales Tax into the Gross Cap Cost?
Is Sale Tax included into the "Due at Signing"?

Thanks.

.00045 MF and 56% residual

Sales tax is applied to the sum of the pre-tax payments, and also any taxable amounts paid upfront (acquisition fee, rebates, CAP cost reductions).

So, (payment X 36) + (taxable upfront times) X tax rate = tax

That amount can be paid at lease signing, or rolled into the CAP cost.

leogrande

It is still not quite clear to me. I have seen some dealer lease proposal. And there they calculated Adjusted Cap Cost = [Gross Cap Cost=(Vehicle Price + Sales Tax + DMV Fees + Aquisition Fee)] - Cap Reduction
Then to calculate a monthly payment: (Adjusted Cap Cost - Residual Value)/36 + (Adjusted Cap Cost + Residual Value) x MF. That means that taxes are already included into the monthly payment if I am correct.
But I can't figure out how they calculated Sale Tax to include it into the Gross Cap Cost.
What can they charge as Due at Signing? 1st Monthly payment and Down payment? All other fees are already included in their calculation of the Gross Cap Cost, right?
UPDATE:
I figured out that their Due at Sign = Registration Fee + License Fee + Title Fee + Electronic Filing + Down Payment + 1st Month payment. But still have a question about their Sale Tax calculation.

kyfdx

leogrande said:

It is still not quite clear to me. I have seen some dealer lease proposal. And there they calculated Adjusted Cap Cost = [Gross Cap Cost=(Vehicle Price + Sales Tax + DMV Fees + Aquisition Fee)] - Cap Reduction
Then to calculate a monthly payment: (Adjusted Cap Cost - Residual Value)/36 + (Adjusted Cap Cost + Residual Value) x MF. That means that taxes are already included into the monthly payment if I am correct.
But I can't figure out how they calculated Sale Tax to include it into the Gross Cap Cost.
What can they charge as Due at Signing? 1st Monthly payment and Down payment? All other fees are already included in their calculation of the Gross Cap Cost, right?
UPDATE:
I figured out that their Due at Sign = Registration Fee + License Fee + Title Fee + Electronic Filing + Down Payment + 1st Month payment. But still have a question about their Sale Tax calculation.

You basically have to run the calculations twice, to get the sales tax.
First you calculate the payment without tax, calculating the tax, just as I mentioned above.
Then, you go back and add the sales tax in to the CAP, if you aren't paying it upfront.

Anything not included in the CAP cost has to be paid upfront.

leogrande

@kyfdx, Thank you for your explanations.
So now it looks like this(for the tax calculations):
Adjusted Cap Cost = [Gross Cap Cost=(Vehicle Price + DMV Fees + Aquisition Fee)] - Cap Reduction

{[(Adjusted Cap Cost - Residual Value)/36 + (Adjusted Cap Cost + Residual Value) x MF]x36 + [Upfront Fees=( Registration Fee + License Fee + Title Fee + Electronic Filing ...)] + Cap Reduction)}x StateTaxRate = Sales Tax

kyfdx

leogrande said:

@kyfdx, Thank you for your explanations.
So now it looks like this(for the tax calculations):
Adjusted Cap Cost = [Gross Cap Cost=(Vehicle Price + DMV Fees + Aquisition Fee)] - Cap Reduction

{[(Adjusted Cap Cost - Residual Value)/36 + (Adjusted Cap Cost + Residual Value) x MF]x36 + [Upfront Fees=( Registration Fee + License Fee + Title Fee + Electronic Filing ...)] + Cap Reduction)}x StateTaxRate = Sales Tax

Yes... but, I doubt if any of those government fees are taxable, unless you roll them into the CAP cost. If you pay them upfront.. no tax!