Car Buying Advice - Leasing a 2017 Acadia Limited

Best Answers

• Michaell Moderator Posts: 259,635

  February 2017 Answer ✓

  anothercar1 said:

  Can you please tell me what the MF and RV for 2017 Acadia Limited is in New York and PA for 39/12 & 39/10?
  
  Also, I am working with several PA dealers who want to charge NY Sales Tax on the Full Amount of the Acadia
  on the Lease I'm trying to negotiate. I'm only familiar with paying tax on the portion(in months) of the total amount of the car.
  
  Thanks very much

  .00087 and 54% / 55%. $300 lease cash.
  
  I would think PA dealers get enough business from NY to understand how to address sales tax issues.
  
  PA taxes the monthly payment in a lease
  
  NY taxes the sum of the monthly payments and collects the amount up front.
  
  Not sure why your PA dealer wants to collect sales tax against the entire selling price.

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• Michaell Moderator Posts: 259,635

  February 2017 Answer ✓

  anothercar1 said:

  Hi Michaell, Thanks very much for your quick reply! I just figured PA had a unique Lease Model collecting the tax on full amount of the car. Sorry to be thick, can you elaborate on what the diff is between PA & NY when they collect sales tax? Thanks again

  Let's use an example
  
  Lease payment is $300/mo, before tax, 36 month term.
  
  PA charges 9% sales tax against each monthly payment - total payment is $327/mo
  
  NY charges 8% sales tax against the sum of the monthly payments - 300 x 36 = 10,800 x 8% tax = $864. That $864 can either be paid up front - or - it can be added to the selling price and you can pay it over the term of the lease. However, if you choose to do that, the tax amount is then subject to interest. We suggest you pay it monthly and not up front. Why? If the car is stolen or totaled after, say, month 4 of the lease, the state of NY will not refund you the sales tax you paid up front but didn't get use of.

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• anothercar1 Member Posts: 5

  February 2017 Answer ✓

  Thanks again Michaell. Appreciate the breakdown between the two(2) states.

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