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i’m interested in leasing a eqs 450+ 10k a year 24 month msrp around 107-112. Texas
Not able to extend tax credit from out of state (AR)
How much are you wanting to bet on it?
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Well, it’s out here and no, I am not extending tax credit because I am located in AR
So, do Texas dealers have tax credits?
sorry for doubting you, I was lied to by another merc dealer lol
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I’d assume so.
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It happens
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I just got a negatory on Texas tax credits from my local dealer in Houston. I feel like they don’t typically get them (or start using them) until the 3rd week of the month.
@derekoh1991 last month the Houston dealer claimed there was an “L&M Fee” of 1.5% to use the tax credits (only negating half of the 6.25% tax). Is this a legitimate expense from MBFS or just a dealer add on? I’ve never paid such a fee with Chevrolet or BMW when getting these Texas credits.
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L&M Fee should be 1.5% of purchase price, which is tax credit for Texas.
I don’t know how you get negatory this month from last month.
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You’re right about the odd tax credit offers, another Houston Benz dealer is saying they do in fact have tax credits for use right now. @derekoh1991 can you elaborate on how Mercedes issues these credits?
For example, do they just tell dealers “you have $100,000 in credits, use it how you want”? Or is it more specific like, “You can offer 50% tax for up to 50 EQ models” this month?
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No, “L&M credits have a pool of certain amount.”
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which Mercedes are you looking to get?
I’m personally looking for either gle 350 4 matic (with sales tax waiver) or gle 450e (with sales tax waiver and 7.5k ev SUV hopefully), but which ever is cheaper overall ill go with that one.
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what does L&M stand for? sorry new to all the lingo
No idea. Tax credit doesn’t mean you get to waive tax. It goes from 6.25% to 1.5%
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Out of curiosity, and not that it applies to me, but what is a tax credit?
I get that the tax rate drops, but who makes up for it? The captive bank? Or the state? And why?
Since Texas is #2 state in auto purchase/finance/lease, they have this system set up for L&M Credit, which is tax credit. Usually, bank sets up certain limit on $ figures to pool the credit. And it doesn’t have to be the captive. USBank and Ally does it all the time.
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Where are you located? Anything good on EQB with third row?