So I am looking to lease an EV car in NJ, which has the great benefit of no sales tax on any electric vehicle. However, I will have to move back to NY in a few months. I know I can register a car from NJ to NY, but what about the sales tax? Will I have to pay sales tax then, or will my lease change? Or does it not matter since the car is a lease?
You will have to pay sales tax at registration for reminder of the lease. Best you keep it under NJ till lease ends if you can
The only issue is that my insurance for NJ is $456 a month whereas NY would be $180 a month…that is a huge difference…
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You’ll owe 8.x% tax on the remaining payments. Peanuts compared to your insurance savings.
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Ahhh yes true. Yeah sales on all remaining Payments
I bought a Bentley and to keep it under my dads name in NJ was $430 a month and I titled it to my name now in NC… $450 for 6 months lol