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  #1  
Old 10-06-2012, 10:07 PM
kkapdolee kkapdolee is offline
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Three questions about leasing in Houston

Hi,

I have two questions about leasing in Houston.

1. When I lease, do I have to pay all fees up front or can I finance everything and just drive off the lot with just the first month's payment? (Acquisition fee, taxable fee, non taxable fee)

2. Are there any bimmerfest sponsor dealerships in Houston or somewhere near?

Thanks.
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  #2  
Old 10-06-2012, 11:30 PM
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Greg@Pacific BMW Greg@Pacific BMW is offline
Greg Poland Pacific BMW
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I do a lot of Texas business... You guys have upfront sales tax.. I always have to collect that in drive off amount... If you have any questions please send me a pm
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800 South Brand Blvd.
Glendale, CA 91204
818 254 1491
www.PacificBMW.com
gregpoland@pacificbmw.com
Euro delivery, PC delivery, Out of state-new and used car sales
Hours:T-F 1-8 PM,Sat 1 to 8pm, off Sun and Mon.



Current rides: 2013 X5 msport and 2013 535i
15% over wholesale/invoice for all accessories! and free shipping for Bimmerfest members!!
http://www.youtube.com/watch?v=zEK7hG-3fyA
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  #3  
Old 10-07-2012, 06:11 PM
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miamiboyca miamiboyca is offline
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You have to pay the taxes up front :-( Unless you have multiple legal residences like someone I know.
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  #4  
Old 10-09-2012, 01:04 PM
DigitalMPower DigitalMPower is offline
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Greg,

I am in TX and am about to lease, isn't it possible for the dealer to use tax credits to waive this?

Therefore making it a wash as if you are not paying the upfront taxes like other states?
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  #5  
Old 10-09-2012, 01:07 PM
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miamiboyca miamiboyca is offline
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Quote:
Originally Posted by DigitalMPower View Post
Greg,

I am in TX and am about to lease, isn't it possible for the dealer to use tax credits to waive this?

Therefore making it a wash as if you are not paying the upfront taxes like other states?
I am not Greg but, what kind of tax credits are you referring? Are you trading in a 40k auto?
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  #6  
Old 10-09-2012, 01:10 PM
DigitalMPower DigitalMPower is offline
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I know BMWFS sometimes allows dealers to use tax credits usually middle of the year and end of the year.

Also, I do have a 2009 335i that I may trade however I still owe some so I only have about $10k equity in the car...
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  #7  
Old 10-09-2012, 01:17 PM
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miamiboyca miamiboyca is offline
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Quote:
Originally Posted by DigitalMPower View Post
I know BMWFS sometimes allows dealers to use tax credits usually middle of the year and end of the year.

Also, I do have a 2009 335i that I may trade however I still owe some so I only have about $10k equity in the car...
Interesting, I have never heard of "sales tax" credits, so that's why I asked. Obviously you can trade your car in, get tax credit for the 10k in equity and apply the entire 10k which I don't recommend since you will putting in 10k to benefit $700 tax relief. Also better of putting that extra money into multiple security deposits.
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  #8  
Old 10-09-2012, 03:08 PM
HugH HugH is offline
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Quote:
Originally Posted by DigitalMPower View Post
I know BMWFS sometimes allows dealers to use tax credits usually middle of the year and end of the year.

Also, I do have a 2009 335i that I may trade however I still owe some so I only have about $10k equity in the car...
Talk to your dealer. He should let you know when he expects tax credits. That could save you a couple of grands in sales taxes.
Very common in TX leasing, irregardless of brands.

For example, last week a VW dealer in Lewisville was advertising tax credits on all of their Metroplex leases during their Ed Wallace Wheels radio show...

Last edited by HugH; 10-09-2012 at 03:22 PM.
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  #9  
Old 10-09-2012, 05:31 PM
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Greg@Pacific BMW Greg@Pacific BMW is offline
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I know Texas dealers have different guidelines then we do..best to check with local dealer.
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Warmest Regards,

Greg Poland
Pacific BMW
800 South Brand Blvd.
Glendale, CA 91204
818 254 1491
www.PacificBMW.com
gregpoland@pacificbmw.com
Euro delivery, PC delivery, Out of state-new and used car sales
Hours:T-F 1-8 PM,Sat 1 to 8pm, off Sun and Mon.



Current rides: 2013 X5 msport and 2013 535i
15% over wholesale/invoice for all accessories! and free shipping for Bimmerfest members!!
http://www.youtube.com/watch?v=zEK7hG-3fyA
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  #10  
Old 10-10-2012, 02:28 AM
Mbbrewer Mbbrewer is offline
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I recently got a sales tax credit on my 2012 X535d. Combine that with the 4500 eco credit, 750 loyalty credit and the savings are immense.
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  #11  
Old 10-11-2012, 12:15 AM
ChrisRock ChrisRock is offline
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Quote:
Originally Posted by Mbbrewer View Post
I recently got a sales tax credit on my 2012 X535d. Combine that with the 4500 eco credit, 750 loyalty credit and the savings are immense.
Don't forget $300-$700 for scheduling a test drive via the BMW app.
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  #12  
Old 10-11-2012, 06:24 AM
DigitalMPower DigitalMPower is offline
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So can you stack

750 BMW owner loyalty
1500 USAA incentive
And the BMW app?

These discounts would be deducted from the price you negotiate leaving you able to get the car well below invoice...
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  #13  
Old 10-11-2012, 08:25 AM
ChrisRock ChrisRock is offline
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The BMW Ultimate Drive App is applied to a payment, so you only receive the benefit from it after you have signed a lease.
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  #14  
Old 10-11-2012, 09:55 AM
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Jon Shafer Jon Shafer is offline
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Quote:
Originally Posted by DigitalMPower View Post
So can you stack

750 BMW owner loyalty
1500 USAA incentive
And the BMW app?

These discounts would be deducted from the price you negotiate leaving you able to get the car well below invoice...
It's funny, I've been noticing more and more frequent use of the descriptor of "stacking" incentives. For decades there was no such thing as an "incentive" necessary to compel a prospect to buy a new BMW. Nowadays it seems that it is practically a prerequisite.. I am making no judgement about it, just noting the observation for the sake of discussion.

Anyway, I tend to think of it as "combining" programs, but find it interesting to read about "stacking". I wonder who first coined the phrase here The 'Fest?

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  #15  
Old 10-11-2012, 10:31 AM
Justin@NCBMW Justin@NCBMW is offline
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Quote:
Originally Posted by DigitalMPower View Post
So can you stack

750 BMW owner loyalty
1500 USAA incentive
And the BMW app?

These discounts would be deducted from the price you negotiate leaving you able to get the car well below invoice...
1 and 3 can be combined when funded by FS
2 is a non FS funded amount so it can not be combined with 1 and 3
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  #16  
Old 10-11-2012, 11:04 AM
DigitalMPower DigitalMPower is offline
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Jon I am an underwriter so to me we see stacking with liability limits all the time so that is where that term came from, I have never heard anyone else use it in relation to cars.

Thanks for the help guys didn't mean to high jack the thread
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  #17  
Old 10-12-2012, 07:28 AM
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TXPearl TXPearl is offline
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Quote:
Originally Posted by kkapdolee View Post
Hi,

I have two questions about leasing in Houston.

1. When I lease, do I have to pay all fees up front or can I finance everything and just drive off the lot with just the first month's payment? (Acquisition fee, taxable fee, non taxable fee)

2. Are there any bimmerfest sponsor dealerships in Houston or somewhere near?

Thanks.
I don't think anyone gave you a complete answer to your questions.

Unless you can find the "sales tax credits" described above, you are responsible for paying sales tax on the lease just as if you are buying the vehicle (i.e. sales tax on the full sales price less any trade credit).

However, you do not have to pay the sales tax and other fees out of pocket up front - these can be rolled into the lease payment. In other words, you can drive off just making only the (higher) first payment.

Regarding bfest sponsors in TX (or even adjacent states), I'm not aware of any. I used Greg Poland from Calif. and would recommend him if you're going with an out of state deal.
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  #18  
Old 10-12-2012, 09:26 AM
kkapdolee kkapdolee is offline
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Thanks everyone for your responses.

What exactly is a sales tax credit? Is this what makes up for the difference in sales taxes between Texas and other states when leasing a vehicle? With a sales tax credit in Texas, do I only pay the sales tax for the amount of depreciation during lease just like in other states instead of paying taxes for the entire car? Or does this mean I don't pay sales taxes at all?

What's the advantage of going with an out of state deal for a Texas resident? Don't I have to pay extra money for delivery costs from Cali to Houston?
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  #19  
Old 10-12-2012, 09:47 AM
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TXPearl TXPearl is offline
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Quote:
Originally Posted by kkapdolee View Post
Thanks everyone for your responses.

What exactly is a sales tax credit? Is this what makes up for the difference in sales taxes between Texas and other states when leasing a vehicle? With a sales tax credit in Texas, do I only pay the sales tax for the amount of depreciation during lease just like in other states instead of paying taxes for the entire car? Or does this mean I don't pay sales taxes at all?

What's the advantage of going with an out of state deal for a Texas resident? Don't I have to pay extra money for delivery costs from Cali to Houston?
The tax credit has nothing to do with other states. From my experience, IF credits are available, you'll end up paying no sales tax, but it's conceivable that the amount of the credit made available to you could only partially offset the sales tax due. Keep in mind that you're not buying the car, the leasing company is (typically BMWFS). You're just paying whatever sales tax results from their purchase of the vehicle. They generate sales tax offsets from lease returns.

There's no particular advantage to using an out of state dealer, other than the sponsors here tend to give you a very competitive, transparent, invoice+ deal. It's nice not having to waste hours haggling with the local dealer.
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  #20  
Old 10-12-2012, 09:53 AM
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miamiboyca miamiboyca is offline
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Quote:
Originally Posted by kkapdolee View Post
Thanks everyone for your responses.

What exactly is a sales tax credit? Is this what makes up for the difference in sales taxes between Texas and other states when leasing a vehicle? With a sales tax credit in Texas, do I only pay the sales tax for the amount of depreciation during lease just like in other states instead of paying taxes for the entire car? Or does this mean I don't pay sales taxes at all?

What's the advantage of going with an out of state deal for a Texas resident? Don't I have to pay extra money for delivery costs from Cali to Houston?
Ok so I will try and answer one at a time.

In Texas you have to pay taxes up front on the entire value of the car. No way around it.

A sales tax credit, is a credit that can be applied toward the payment of said sales tax. It does not change the amount of sales tax due. Unfortunately Texas is not what I would consider a lease friendly state.

The benefit of reaching out to Greg P is that he is a board sponsor. Will provide you better no hassle pricing in clear terms. He will also make sure you get all the incentives your are entitled.

I can't speak to additional delivery since I am doing ED followed by PDC. But I don't think there is any additional cost. Best to send him a email.
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  #21  
Old 10-12-2012, 09:55 AM
chrischeung chrischeung is online now
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Quote:
Originally Posted by miamiboyca View Post
In Texas you have to pay taxes up front on the entire value of the car. No way around it.
You can roll that amount into the lease and pay it monthly if you use a TX dealer.
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  #22  
Old 10-12-2012, 10:01 AM
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miamiboyca miamiboyca is offline
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You can roll that amount into the lease and pay it monthly if you use a TX dealer.
Thanks Chris, didn't know they would add that in. Either way, no way around it.
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  #23  
Old 10-15-2012, 09:39 PM
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Dave 330i Dave 330i is offline
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I am so glad that I still live in CA. At least that's what my DL says.

TX is not friendly to one who wants to lease his cars. It doesn't like you selling your car privately either because there is an incentive to trade it in to the dealer as a sales tax reduction in the amount of its trade in value. But, when you are as old as I am, cash is king.
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Last edited by Dave 330i; 10-15-2012 at 09:43 PM.
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  #24  
Old 10-15-2012, 09:42 PM
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Greg@Pacific BMW Greg@Pacific BMW is offline
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Hey MiamiBoyCA............. how's the trip going?
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Warmest Regards,

Greg Poland
Pacific BMW
800 South Brand Blvd.
Glendale, CA 91204
818 254 1491
www.PacificBMW.com
gregpoland@pacificbmw.com
Euro delivery, PC delivery, Out of state-new and used car sales
Hours:T-F 1-8 PM,Sat 1 to 8pm, off Sun and Mon.



Current rides: 2013 X5 msport and 2013 535i
15% over wholesale/invoice for all accessories! and free shipping for Bimmerfest members!!
http://www.youtube.com/watch?v=zEK7hG-3fyA
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  #25  
Old 10-15-2012, 09:55 PM
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miamiboyca miamiboyca is offline
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Originally Posted by Greg@Pacific BMW View Post
Hey MiamiBoyCA............. how's the trip going?
Dude, I am back... Why isn't my car here yet ?

Had to be a short trip due to work. Didn't want to change the date on you again. Next time 2 weeks for sure!!
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