I am trying to see how the monthly payment/tax would work when transferring lease from PA to NJ
Lease tax is calculated on the monthly payment while NJ is on the total lease price upfront.
If I were to transfer BMW lease from PA to NJ, how would the monthly payment be affected?
Maybe related — I moved from CA to Texas with my leased BMW and when I updated my billing address to Texas the sales tax was dropped from my monthly payment.
Did you already pay PA taxes up front? Just confirming that you didn’t.
Although you should call BMWFS for an official answer - when you transfer the lease to NJ, you’ll pay sales tax up front only on the remaining months of the lease.
Bank should add 6.625% on top of the monthly payment amount to cover it. They don’t try to recollect upfront based on my experience with a PA>NJ lease transfer, although not BMWF.