Lease Question

[Deleted User]

Hello,

I live in Texas and interested in leasing a car which is located in Illinois. Since I live in Texas the dealership is stating I need to pay my Texas sales tax upfront. Is that accurate? Is there anyway around that?

Michaell

RJohn29 said:

Hello,

I live in Texas and interested in leasing a car which is located in Illinois. Since I live in Texas the dealership is stating I need to pay my Texas sales tax upfront. Is that accurate? Is there anyway around that?

Dealer is correct - Texas assesses sales tax against the entire selling price. No way around it, though you can choose to add the tax amount to the cap cost and make it part of the monthly payment.

[Deleted User]

I understand the tax is on the entire selling price. What I would like to do is pay the tax as party of my monthly payment. Dealer is stating the tax amount is due at signing and can't be paid monthly.

Michaell

RJohn29 said:

I understand the tax is on the entire selling price. What I would like to do is pay the tax as party of my monthly payment. Dealer is stating the tax amount is due at signing and can't be paid monthly.

It's possible that you won't have a choice with an out of state transaction, as the tax will be due when you go to register the car in Texas.

Nothing in the state fits your need?

kyfdx

RJohn29 said:

I understand the tax is on the entire selling price. What I would like to do is pay the tax as party of my monthly payment. Dealer is stating the tax amount is due at signing and can't be paid monthly.

If you were in TX, then you could definitely roll the tax amount into the adjusted CAP cost. Not sure why you couldn't do that, even if you are purchasing in IL, as well. But, if the dealer says no, then not much recourse, other than to ask them to check with BMWFS.