I agree and I realize that. What I mean, that technically I didn’t pay upfront, financial company did that and depends on situation it may be gain or loose for me. If I transfer lease earlier or car is totaled for example, you save that amount - interest paid
They may assume that tax was already paid on the lease when it was first opened. The title will still be in the lease companies name so technically there is no transfer of ownership.
I’ll ask someone at dmv when I go later today.
I know it’s been a while, but what happens if you leased a car from NJ and then move to another state like CA or AR? do you have to now start paying taxes on top of your original lease where tax was already calculated into it??
BMW is actually pretty good about helping understand the tax details so it’s worth calling if you haven’t… NJ requires sales tax on each lease payment, so when you assume the lease in another state that amount will be pulled out of the lease payment, and if your state requires it they will add your states amount.
No, NJ requires the tax upfront.
Whether the new state gives you any credit for that tax paid is going to depend on the statutes of each of those 49 states.