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  #1  
Old 04-19-2014, 06:23 PM
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Paul335i Paul335i is online now
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Do you have to pay state sales taxes on new car leases?

My father drive a 2003 Accord that's ready to be replaced. It appears that there are many attractive lease offers out there. My questions are:
1. Will my father have to pay sales tax based on the vehicle's MSRP?
2. Will my father have to pay the yearly excise taxes levied my his town?

FWIW: I've never leased a car before. I just want to protect his interests.

Any advice is appreciated.

Last edited by Paul335i; 04-19-2014 at 06:26 PM.
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  #2  
Old 04-19-2014, 07:33 PM
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In California them lease taxes add up quickly. Maybe they are different in different states but for California they are not all that great.

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Old 04-19-2014, 10:38 PM
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Quote:
Originally Posted by Paul335i View Post
My father drive a 2003 Accord that's ready to be replaced. It appears that there are many attractive lease offers out there. My questions are:
1. Will my father have to pay sales tax based on the vehicle's MSRP?
2. Will my father have to pay the yearly excise taxes levied my his town?

FWIW: I've never leased a car before. I just want to protect his interests.

Any advice is appreciated.
1) Yes - it could be all up front or monthly, depending on the state. 2) It depends. In what city, county and state does he live / plan to title the vehicle?

Your state's web site should provide you all the details.
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Old Yesterday, 01:24 AM
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brkf brkf is offline
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Quote:
Originally Posted by stylinexpat View Post
In California them lease taxes add up quickly. Maybe they are different in different states but for California they are not all that great.

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In ca you only pay tax on the payment, not the car's sale price. This is substantial savings compared to states where you pay tax on the whole car value.
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