Hoping to get some information on this. I have an eye on a deal from another state, and I’m in Texas.
How would the sales tax situation work here? For instance, this deal is quoted as $800 per month with taxes and first payment up front. The local sales tax of the deal is 6.5%, but is based on monthly charges, not on the full vehicle cost. The MSRP of the vehicle is $119,500.
Am I correct in assuming that if I wanted to get this vehicle in Texas, I would be due ~$7k up front to get to the same monthly payment? Is it possible to get a tax credit for a vehicle leased in Texas that was brought in from out of state?
Unless it’s a dealer from a neighbor state who frequently does Texas deals your short answer is no. I know a dealer in LA who can do this but no idea how they arranged this with Texas State.
I live in Alabama and have tried to lease a vehicle from multiple dealers in Texas and they advise they don’t do out of state leases. So I don’t know how much luck you will have in the reverse. I have leased from Georgia and Florida without a problem… but many dealers are funny about leases if they don’t know how to do them and handle the out of state tax issues. Good luck!
You’re going to be charged 6.25% on the selling price of the car after rebates. They should be quoting you based on your zip. If they can’t do that, contracting, plates, etc. will be a nightmare.
As other’s have said, sales tax is based on your zip code/state and the selling dealer should be calculating you the lease based on TX sales tax or without tax with the caveat of this is the payment and/or DAS BEFORE tax. When the deal is contracted, they should have the correct TX sales tax on the deal. If they cannot/will not get the tax correct it will be a NIGHTMARE to correct after the fact. There are few posts on here about that.
With peace and love…if they cannot get the tax correct then DO NOT do this deal.
A Texas resident leasing from an out of state dealer owes 6.25% sales tax on the purchase price of the vehicle.
