Hi all, I love the site and it’s been immensely helpful (working on my own lease right now). The calculator is great, I was able to plug in almost all my numbers from the F&I sheet the dealer gave me to see it all clearly. The only thing is tax, specifically for the backwater jerkburg that I live in (South Carolina). In SC, technically we don’t even “tax” new car sales anymore. Rather, now we pay an “Infrastructure Maintenance Fee (IMF)”, because renaming taxes as “not taxes” is a thing now.
In any event, while the tax on new car sales used to be 5% capped at $300. It’s now 5% capped at $500. The fee is paid upfront and it appears to be levied on the total lease payment. Found this in a state document to support this: The infrastructure maintenance fee is remitted to SCDMV and is imposed at a rate of 5% of the gross proceeds of the sale, not to exceed $500, for a sale by a licensed SCDMV dealer or 5% of the vehicle’s fair market value, not to exceed $500, for a sale by a person who is not an SCDMV licensed dealer.
In practice, one can make the calculator show the proper tax in SC, but it requires outside math (egad). The “Tax is levied upfront on the total lease payment (e.g. NY, NJ, MN)” box works best, but it doesn’t offer the ability to cap it at a set amount. So, if you enter 5%, but the total lease cost is more than $10k, it’ll incorrectly show over $500 due.
My suggestion: Add a fourth radio button: “Tax is levied upfront on the total lease payment and is capped (e.g. SC)”. Next to/below this option (or appearing only IF you click this option), a box labeled “Sales Tax Cap” allows entry of the maximum tax amount (in SC, we would enter $500 here). Then, simply logic on the backend does an IF:THEN, i.e. IF X% of total lease cost > $Y sales tax cap THEN $Z total tax = $Y.
Don’t know if any other states are like this, but we are and we revel in our otherness!