Just wanted to confirm if this is a good deal and have a question on tax and how the money factor is calculated? My plan is to eventually buy it out ASAP. Income limits force me to lease to get the tax credit. Sorry for lots of questions. It’s my first time leasing.
The dealer says MF is 0.0024 but I don’t see that in first 2 pages of the document.
Can that be verified from these figures below?
Also, in Texas the tax is not paid upfront and rolled into cap cost? Is it paid during buy out?
Since the L&M is the tax. Will I be double taxed when I buy this out after a month? Or will that (or part of it) be credited ?
I also have VW partner program for additional 500$ off. Will that make this deal extra sweet or just so-so?
Location: Texas Terms: 36/12,000 MSRP: 45936 Selling: 40936 Lease credit: 7500 Residual: 24346 (52%) Taxes: N/A Title, license and registration: 203 Lease acq: 699 Doc fee: 150 L&M Fee: 417.95 (says 1.25% tax) Gross cap cost: 42405 Due at sign: 435 as first month payment.
Is this good deal so far? And regarding the buy out, is it standard for VW Credit (dealer says in the agreement they will sell it to them) to have early buy out option? I don’t want to sign and then find out I can only buy out at the end.
You getting $5k off msrp which seems to be good. Not sure about the Tax you may be taxed on the buyout price but i am not familiar with TX tax law on buyout…
There must be sales tax credits on the vehicle if they are listing L&M at 1.25% … When you buyout the car you will pay sales tax on the buyout price in TX.
If it’s a lender tax credit, then any VW dealer using VW Credit (or whatever they call their financing arm) can do that for you (as far as I know). The lender tax credits are usually limited though. Once they hit the dollar amount they have available then that’s all there is.
