[PENDING] 2018 M3 CS $829.74 tax included [Cleveland, Ohio]

Pm sent! :grinning:

I’ve done transfers between states like that and yes, the only thing that changed was my monthly tax amount.

1 Like

All PMs replied!!!

Hey, PM’d you. I’m sure the guys on this forum are going to blast me for this, but as I’m new to the country and building up my credit, I’ve offered to pre-pay the remainder of the lease payments up-front. I’m based in Marina Del Rey, CA. Thanks, appreciate your time.

@kubikdanon you sell this beauty yet?

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Pending for now.

Good! I was genuinely going to be upset if this was still sitting!

PM me if your pending falls through.

It did :confused:
PM sent :wink:

Did they think their 22k a year and 550 credit score would get over the finish line again man? :rofl:

This time it wasn’t a credit denial, person just backed out.

For what it is worth, i think the following states have tax reciprocity with Ohio:

Indiana, Kentucky, Michigan, Pennsylvania and West Virginia.

It’s not related to lease taxation.

" Ohio has a reciprocal agreement with the five states that border Ohio . These five states are Indiana, Kentucky, Michigan, Pennsylvania and West Virginia. The reciprocal agreements provide that Ohio will not impose state income tax on the salaries, wages, tips and commissions of residents of these five states."

Interesting. Was looking where that may be published.

Example, my last swap from Pennsylvania just adjusted my payment by the Michigan tax rate because Pennsylvania also charges tax on monthly basis.

I did 2 NY swaps that requires tax paid up front (like Ohio I believe) so I just took over their lease payment with no tax because Michigan recognizes the tax paid on the original deal in NY.

Hm, are you sure about that? I had a person from Michigan who wanted to assume a lease and BMW Financial representative told me Michigan resident will still pay Michigan tax. Obviously he could be wrong, but it’s an interesting data point, thank you so much!

Perhaps we don’t have that deal with Ohio,which we which would be surprising (damn Buckeyes…).

I didn’t know about it all until I registered my first NY swap. My second NY swap confirmed it. Looking around to see where the info is posted and not having much luck.

Was it a BMW you transferred? Either way, did you have to talk to your local DMV about it or the financial institution told you that?

Yep, both BMWs. If I recall, BMW didn’t know but the local DMV did.

But even the DMV (we call Secretary of State) was a challenge. Lease transfers must not be common enough because they always have to find that salty old lady in the back that knows everything.

2 Likes

This is my present concern. Called BMWFS today. Told me that there was a mechanism in place to handle this situation, but ultimately to know for sure I’d need to visit my local DMV.

If you still have… PM’d you
Thanks