I apologize if this isn't the right forum, but it is CR-V related. Interested in leasing a CR-V for an older family member. I live in CA, but he is in NY. I've got a lot of experience leasing in CA but none in NY but I think there is something funky with the sales tax. Normally I do a calculation of the Depreciation Fee and the Leasing Fee, add those together and put the sales tax on the monthly payment. What do I do in NY State (not city, if that makes a difference - this is for upstate)?
I apologize if this isn't the right forum, but it is CR-V related. Interested in leasing a CR-V for an older family member. I live in CA, but he is in NY. I've got a lot of experience leasing in CA but none in NY but I think there is something funky with the sales tax. Normally I do a calculation of the Depreciation Fee and the Leasing Fee, add those together and put the sales tax on the monthly payment. What do I do in NY State (not city, if that makes a difference - this is for upstate)?
NY taxes the sum of the payments, the taxable fees (dealer and acquisition fees), plus any down payment or incentive. This amount is either: 1. Paid up front, when the paperwork is signed, or 2. Rolled into the cap cost and made part of the payment
We recommend you pay the taxes up front, and not add them into the lease payment; due to a quirk in NY law, if you do that, the tax gets taxed a second time.
I apologize if this isn't the right forum, but it is CR-V related. Interested in leasing a CR-V for an older family member. I live in CA, but he is in NY. I've got a lot of experience leasing in CA but none in NY but I think there is something funky with the sales tax. Normally I do a calculation of the Depreciation Fee and the Leasing Fee, add those together and put the sales tax on the monthly payment. What do I do in NY State (not city, if that makes a difference - this is for upstate)?
NY taxes the sum of the payments, the taxable fees (dealer and acquisition fees), plus any down payment or incentive. This amount is either: 1. Paid up front, when the paperwork is signed, or 2. Rolled into the cap cost and made part of the payment
We recommend you pay the taxes up front, and not add them into the lease payment; due to a quirk in NY law, if you do that, the tax gets taxed a second time.
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Thanks. Just to get a little more concrete, but with fake numbers. So if I buy a car for $30k but it's worth $20k at the end of the lease, and there's $1000 incentive, and a $300 disposition fee at least end, would I pay tax on $10k + $1300 (the difference between selling price and residual, adding back in incentives and disposition)? And then instead of wrapping that into the lease and putting a financing charge on it, I could pay that portion upfront? So if it's $11,300 and sales tax is 8%, then it would be $904 to just pay upfront?
Thank you very much for taking the time to explain it to me. None of the numbers above correspond to anything except a better understanding for me.
I apologize if this isn't the right forum, but it is CR-V related. Interested in leasing a CR-V for an older family member. I live in CA, but he is in NY. I've got a lot of experience leasing in CA but none in NY but I think there is something funky with the sales tax. Normally I do a calculation of the Depreciation Fee and the Leasing Fee, add those together and put the sales tax on the monthly payment. What do I do in NY State (not city, if that makes a difference - this is for upstate)?
NY taxes the sum of the payments, the taxable fees (dealer and acquisition fees), plus any down payment or incentive. This amount is either: 1. Paid up front, when the paperwork is signed, or 2. Rolled into the cap cost and made part of the payment
We recommend you pay the taxes up front, and not add them into the lease payment; due to a quirk in NY law, if you do that, the tax gets taxed a second time.
-----
Thanks. Just to get a little more concrete, but with fake numbers. So if I buy a car for $30k but it's worth $20k at the end of the lease, and there's $1000 incentive, and a $300 disposition fee at least end, would I pay tax on $10k + $1300 (the difference between selling price and residual, adding back in incentives and disposition)? And then instead of wrapping that into the lease and putting a financing charge on it, I could pay that portion upfront? So if it's $11,300 and sales tax is 8%, then it would be $904 to just pay upfront?
Thank you very much for taking the time to explain it to me. None of the numbers above correspond to anything except a better understanding for me.
You have to factor the rent charge as part of the payment, not just the depreciation.
Plus the $595 acquisition fee and the $75 doc fee - both of which are taxed.
The disposition fee is taxable, but isn't paid until the end of the lease.
Let's use a more complete example.
MSRP is $32,000 and the selling price is $30,000 ($30,670 with the two fees added in).
MF is .00137 and the 36/12 residual is 63%.
The payment is $361.58/mo, or $13,016.94 for 36 months. 8% tax on that amount is $1041.35, which you would pay up front, along with the first payment and any registration (DMV) costs.
Are there any incentives in 14221 for purchase of CR-V LX AWD for purchase? I'm trying to get that for $25k out the door including our 8.75% NY Sales Tax. That would be roughly $23k selling price off a MSRP of $27,670
Are there any incentives in 14221 for purchase of CR-V LX AWD for purchase? I'm trying to get that for $25k out the door including our 8.75% NY Sales Tax. That would be roughly $23k selling price off a MSRP of $27,670
1.90% APR up to 60 months with $500 Honda to dealer incentive
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
here in NJ 07840
2020 CRV TOURING AWD 15K/36mo
$2000.00 TOTAL OUT OF POCKET
$388 MONTH?
the est was all done via email.
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1. Paid up front, when the paperwork is signed, or
2. Rolled into the cap cost and made part of the payment
We recommend you pay the taxes up front, and not add them into the lease payment; due to a quirk in NY law, if you do that, the tax gets taxed a second time.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thanks. Just to get a little more concrete, but with fake numbers. So if I buy a car for $30k but it's worth $20k at the end of the lease, and there's $1000 incentive, and a $300 disposition fee at least end, would I pay tax on $10k + $1300 (the difference between selling price and residual, adding back in incentives and disposition)? And then instead of wrapping that into the lease and putting a financing charge on it, I could pay that portion upfront? So if it's $11,300 and sales tax is 8%, then it would be $904 to just pay upfront?
Thank you very much for taking the time to explain it to me. None of the numbers above correspond to anything except a better understanding for me.
Plus the $595 acquisition fee and the $75 doc fee - both of which are taxed.
The disposition fee is taxable, but isn't paid until the end of the lease.
Let's use a more complete example.
MSRP is $32,000 and the selling price is $30,000 ($30,670 with the two fees added in).
MF is .00137 and the 36/12 residual is 63%.
The payment is $361.58/mo, or $13,016.94 for 36 months. 8% tax on that amount is $1041.35, which you would pay up front, along with the first payment and any registration (DMV) costs.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Could I have the MF, Residual and Incentives for the CRV EX and EX-L in 08035. 12K/36Mo
Thanks.
$500 incentive
Either trim
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$500 incentive
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Selling price $27,142
Less honda bonus: $500
TOTAL PURCHASE PRICE $26,642
Honda crv ex
12k/36months
$2000 down .. $283 a month taxes/fee included
Is this good deal? I'm in NY?
$500 incentive
Not a bad deal. A lower selling price would be better, of course.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
70%/64% residual
$500 incentive
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No incentives
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Could I have the MF, Residual and Incentives for the CRV EX-L Hybrid in 08035? 12K/36 Mo
Also, will these numbers be changing on Sept 1st?
Thanks.
No incentives
New programs 9/1, yes
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thanks!
$500 incentive
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thanks! This is for new month info
Are the new honda crv numbers out yet?
12k/36 months
Honda crv ex model
Zip 13413
Mf, residual and incentives?
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$500 incentive
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
EX: 63% residual. $500 incentive
LX: 62% residual. $1750 incentive
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36/12 and 39/12
And same for Touring, if it varies.
Thanks, as always.
.00137 MF and 63% residual
$500 incentive
Either trim
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36/12
Thanks
$500 incentive
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thank you in advance!
$500 incentive
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
$500 incentive
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2020 AWD CRV LX: 36/10K
2020 AWD CRV EX: 36/10K
LX - 63% and $1750 incentives
EX - 64% and $500 incentives
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
$500 incentive
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$500 incentive
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