Just Signed. Northern California
$30865 MSRP
$4500 Off
10k/36 months
$1500 DAS
$332/Monthly
61% Residual
Got higher MF, but bigger discount. Probably will buy it out before I finish year one.
10 Likes
Wonder why you paid $1230 in Taxes.
He didn’t. CA only taxes on monthly. I’ve seen a lot of lease worksheets in CA with a tax amount that’s not part of the contract. Probably just software numbers that populate. Or it could be the tax he pays for the total of the lease.
It looks like total taxes paid. I hope it doesn’t mean they double rolled in taxes.
No, his payment and DAS doesn’t reflect that.
Yea. I definitely don’t understand the tax number. The $1500 included Acq fee, first month, registration, etc. So no way of the double tax. The tax number almost calculates to the total tax, but off by a bit.
Yeah it’s not baked into your deal, so it’s not a detail I would worry about.
Congrats. Damn wish I could get that discount up here on NH!
That’s total taxes - 1,230.21 already baked in your deal, it’s just giving you the total number in terms of taxes paid.
The math is as follows:
You pay taxes on your monthly payments, the Doc fee, and the Cap cost reduction.
Monthly tax rate: 32.30 x 36 months = 1162.8
Tax on Doc fee: 85, take 10.75% of that = 9.14
Tax on Cap cost reduction you paid: 542.09, take 10.75% of that = 58.27
Add them up: 1162.8 + 9.14 + 58.27
= 1,230.21
If you don’t mind me asking, what dealership was it? You can PM me.
4 Likes
Lol didn’t know they taxed on doc. No wonder numbers weren’t matching up on the monthly tax and cap cost reduction tax. Learn something new everyday on here.
That’s always the case. For California, if you are an outright cash buyer, you’d pay (car price + 85 doc) times your tax rate %. And DMV fees (calculator on CA DMV site) + usually $31 electronic registration transfer + tire tax.