12-13-2017, 12:22 PM | #1 |
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Drives: 2016 BMW M3
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Location: Southampton, PA
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Has anyone leased a car from NJ while living in PA
I am looking at a 2016 M3 on Saturday and was curious if anyone knew what happens to the taxes in a lease swap situation. The car is registered in NJ and the guy paid the 6.875% taxes up front. A NJ BMW rep said that the taxes transfer over to PA since they were paid but I have to pay the difference between NJ's 6.875% and PA's 9% per payment. I have also heard that the taxes the guy paid up front are gone and do not transfer when swapping a lease. Can anyone confirm this? I am probably going to go ahead with the swap process just don't want any surprises when I see that paperwork come back. Thank You in advance!
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12-13-2017, 12:28 PM | #2 |
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It all depends on state laws, that's why you heard different things.
If you're going to do the swap anyway, why does it matter?
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12-13-2017, 12:45 PM | #3 |
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Drives: 2016 BMW M3
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I am going to pay the $500 to see what the numbers will be. I doubt I will say no once I see the car in person lol. If I have to pay the 9% taxes all over again per payment that would raise the payments to over $1000/mo and that is a hard sell to the wife at this point. Just trying to see if anyone came across this issue before. If the paperwork comes back and the numbers are too far off I can decline and get $400 of the 500 refunded so I'm not fully sold on this deal. Especially when I was just going to wait it out and finance a 2015 CPO M3 in the spring where my payments would be around $600/mo. This guys lease will be over in April 2019 so this plan isn't too bad either.
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