Question about taxes on a lease? Please help

Paternoster77Paternoster77 Member Posts: 6
edited April 2023 in Mazda
I'm looking to lease a Mazda CX-5 in Florida. The sales person added 7% in sales tax to the MSRP. Is that normal? Making the price jump from MSRP 31,000 to $33,170. I thought that you only pay taxes on the lease payments and not the full price of the vehicle.
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  • MichaellMichaell Moderator Posts: 264,359

    I'm looking to lease a Mazda CX-5 in Florida. The sales person added 7% in sales tax to the MSRP. Is that normal? Making the price jump from MSRP 31,000 to $33,170. I thought that you only pay taxes on the lease payments and not the full price of the vehicle.

    I wouldn't trust a sales person to run the numbers on a finance or lease. That's the finance managers job, frankly.

    And, you are correct; in Florida, the tax is assessed on the monthly payment.

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  • kyfdxkyfdx Moderator Posts: 267,625

    I'm looking to lease a Mazda CX-5 in Florida. The sales person added 7% in sales tax to the MSRP. Is that normal? Making the price jump from MSRP 31,000 to $33,170. I thought that you only pay taxes on the lease payments and not the full price of the vehicle.

    Are you in Florida?

    Also, you'll see a lot of numbers on lease quotes. Some of them aren't actually part of the calculations. When you see it on the contract, it usually becomes clear.

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  • Paternoster77Paternoster77 Member Posts: 6
    Yes Florida. Thank you. It seems that I have to be looking at a car that is priced around $29,000 to get a lease in the low $400.
  • MichaellMichaell Moderator Posts: 264,359

    Yes Florida. Thank you. It seems that I have to be looking at a car that is priced around $29,000 to get a lease in the low $400.

    That sounds about right, for this market.

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