But 6.625% of the sale price plus .4% of the sale price does equal 7.025% of the sale price …right? Maybe I’m missing something.
6.625% is not on the sales price
Sigh. No, it is not. Regardless, there is some portion of the vehicle that is taxed at 7.025%, no matter how you slice it. Point was, and still is, the OP’s tax calculation was wrong.
I did not even consider it. Hmmmm. Is it worth a ride?
Well, it takes about 2 minutes to do online, so it’s silly not to do it.
I assume by take a ride, you were thinking of going to CarMax
There are literally threads on this forum of people who have mostly had a positive experience with Vroom, Carvana, Shift, etc… as mentioned if it takes 2 minutes each then your only out 6 minutes.
Jesus what is with people who pathologically can’t ever admit they’re wrong?
I don’t even know what “some portion of the vehicle” means but no, nothing has a 7.025% tax rate applied to it.
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i admit I am wrong all the time. Just ask my wife.
And, you know what, you are right. You don’t multiply anything by 7.025%. I do. And that’s the way I like it. We both arrive in the same place. Congrats on winning at the internet.
No, we don’t. Just let it go instead of losing whatever credibility you have left.
You could get to the answer by taking the lease value and taxing it at 7.025% and then the delta between the sales price and the lease value and taxing that at .4%. It would be a convoluted way to get there that you’d only do to show you can, but it would get you there.
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Yeah if Texas sales tax is 6.25% of the sales price, I could plug 7% into the calculator’s tax field and then put in a fictitious untaxed rebate equal to 0.75% of the sales price.
Stop trying to defend the indefensible
Not disagreeing that it’s a back-asswards way of getting there
but its right. proof is in the result. i know, math is hard for some folks. its ok, I’m sure you have other qualities.
$20k depreciation x 6.625% = $1325.
$20k depreciation x 0.4% = $80.
Total = $1405.
$20k depreciation x 7.025% = $1405.
OMG! Math! Crazy!
Yes, but then you’re calculating the balance of the non depreciation (plus other costs) amount to tax the balance, which as stated earlier totally works, but adds extra steps for no reason other than to say you can do it that way.
6.625% on A (the totality of payments)
0.4% on B (gross selling price)
It would have to be a really rare coincidence if A = B to make your “math” work.
And a really bad lease
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Like I said, you calculate it your way, and I mine.
Can’t say why, but I prefer to think of total tax on a portion. Yes, I agree, doing the other way makes perfect sense and is easier. But my way still doesn’t result in a wrong number, as you claim(ed).
Yes. It does. You can’t show a real life example where it’s correct
Who gives a shit, move onnnnnnn
yeah, forget it. i showed it already. its absurd you can’t admit it. my lease calculations always line up with the dealer, so that’s good enough for me.