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Leasing question

dnycprodnycpro Posts: 7
edited July 28 in Nissan
I understand that there's a fee on the rebate. But is there supposed to be a tax on the bank fee? I didn't think bank fee was a cap cost reduction?

Comments

  • kyfdxkyfdx Posts: 131,090
    dnycpro said:

    I understand that there's a fee on the rebate. But is there supposed to be a tax on the bank fee? I didn't think bank fee was a cap cost reduction?

    Yes, CAP cost reductions and bank fees (paid upfront) are both taxable.

    If the bank fee wasn't taxable, the deal could be manipulated to have an outrageous bank fee, but a low selling price, cheating the state out of their sales taxes.

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    Edmunds Moderator

  • dnycprodnycpro Posts: 7
    interesting, thanks
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