Question about taxes on a lease? Please help

Paternoster77

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.

Michaell

Paternoster77 said:

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.

kyfdx

Paternoster77 said:

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.

Paternoster77

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.

Michaell

Paternoster77 said:

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.