I wasn’t sure where to post this:
The tax calculator on the “Tax is levied on the sales price upfront (e.g. VA, TX, GA)” option appears to base the tax on the sales price instead of the Net Capitalized Cost. My most recent lease in Texas showed a tax bill that was based on the net capitalization costs instead of the sales cost like the site suggests. I am unsure whether this is an error or whether things are different in VA or GA.
Also, would it be possible to include an option to roll in the taxes and fees into the monthly payments?
Thanks for the feedback. We’ll work on creating a $0 drive-off option.
Did you pay any sales tax on capitalized cost reductions? If it’s based solely on the net capitalized cost, then no sales tax would be levied on the down payment portion… which sounds odd.
I didn’t put anything down. It appears that the incentives were not taxed.
Any update to possibly putting in an option to add the sales tax to the cap cost in applicable states? I think it would still be a really helpful feature since not everyone is going to want to pay $2k+ in taxes upfront.
Can’t you just add sales taxes as added costs and select 0% in tax field? I don’t use calculator here, so not sure it’s possible. But I do it all the time with a different one.
There is no field for that on this calculator. Only option is to add it to the sales price or put it as a negative number in the incentives field. It makes it more complicated when trying to show how a deal is structured.