1)Is it common for the leasing company to keep the Federal tax credit and not pass on a good chunk of it to us?
2)Regarding sales tax in IL, one dealer quoted me a monthly leave payment of 398 for 39 months. The sales tax % is 7%. The tax comes to 1086.54 . The rebates are 3621 and the tax on that is 253.47. Total = 1086.54+253.47 = 1340.01 Their software comes up with a sales tax of 1700. They could not explain the difference. It is not a lot of money but the fact it does not match to the penny bugs me. What am I doing wrong? or are they calculating it wrongly?
(As I understand it, IL law was changed in 2015 to tax only the lease payments and rebates )
Can I lease it in one state and then move it to a different state? I see excellent deals in CA compared to IL and it may be worth even paying the $800 fee for transport.
It’s up to each individual captive. Remember, in a lease, you’re only renting the car…the Captive owns it. they are under no obligation to pass it along, but many of them do to make leasing look more attractive. Some will pass on all of it, whereas some will only pass a portion of it down.
You can lease a car in any state you want, and register it in your home state. You’ll get the rebates currently offered in your area, however. You also have to find a dealer willing to lease to someone out of state. Many will do this…many will not, however, due to the extra paperwork. Ex: I live in PA, and leased my last car in OH.
They will most likely tell you that they don’t deal out of state. It’s not a trivial concern - as you alluded to in your second bullet point, everything is based off what their ‘system’ says. What are the chances a CA dealer knows how to calculate and remit IL taxes? Zero.
You’re better off expanding your search to nearby states such as IN, OH, etc.
