Hi all, I am moving from TX to CA and wanted to get some thoughts on how to minimize registration payments. When I signed my lease in October of 2020 I got a pretty significant amount of tax credits, which was done in an effort to reduce my total financable costs as an alterantive to reducing the purchase price. That said, now that I am moving, I am unable to reduce any potential CA taxes by the amount paid in TX, since it was pretty close to zero.
Question is, should I just try to sell the vehicle and buy another here in CA or just pay the tax bill? Happy to answer any questions that may help provide an informed response.
CA taxes monthly. If you move your current lease to CA, that’ll be your new base rate and then each month you’ll pay somewhere in the 7-10% tax range on it, depending on where in CA you are.
Contact your leasing company and give then your new address. In your case maybe 29 days after you move (you have 30). You’ll need a POA from them to register the car, so maybe don’t cut it that close.
You will have to get the car smogged, and a vin scan before you register. If you have it smogged first and get to the dmv early, you may be able to do the last two and change your license in the same appointment (dont forget to study for the written test).