newbie here

tanoli8

Hi,
not sure where to post this question, hopefully, you guys can answer or point me in the right direction
so how does the formula for calculating the lease payment work for NY?
is the whole depreciated value taxed and tax must be paid upfront? and/or if it is rolled into a monthly payment, would it be subject to interest there?
and are incentives taxes as well? and must these taxes be paid upfront?
what would be the most feasible way to go about it if I only make the necessary minimum payments at lease signing
I am kind of disoriented. any help would be appreciated.
thank you all

Michaell

tanoli8 said:

Hi,
not sure where to post this question, hopefully, you guys can answer or point me in the right direction
so how does the formula for calculating the lease payment work for NY?
is the whole depreciated value taxed and tax must be paid upfront? and/or if it is rolled into a monthly payment, would it be subject to interest there?
and are incentives taxes as well? and must these taxes be paid upfront?
what would be the most feasible way to go about it if I only make the necessary minimum payments at lease signing
I am kind of disoriented. any help would be appreciated.
thank you all

Start with this link to get the base payment:
https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

NY taxes the sum of the payments, and we recommend you pay them up front. If you add them back into the cap cost, then the tax gets taxed again (nifty little trick we only see in NY).

Incentives and non-government fees (acquisition and doc fee) are also subject to tax.

tanoli8

NY is messed up ! Wish they also did something about so much misleading advertisements by car dealerships in our area too 😋 it's been a whirlwind
Thank you for your help...I think I got it now