I’ve been using $1,600 since I think they require a 4-year registration on these.
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Dealers are supposed to collect registration plus the new EV road tax for a period of however long the lease term is. If they don’t collect for all three years, then expect a bill in the mail.
I’m a little worried I’m taking the wrong approach: I typically prefer leasing, but I wanted to finance to lock in the federal incentive, state incentive, and sales tax exemption.
It may not make as large of a difference as I’m anticipating in a few years, so I may be reacting for no tangible reason. I also have a looming irrational fear of an EV lease being totaled then costing significantly more to replace, but history has taught me that it was mostly pointless to worry.
Even the half sales tax rate on a lease could make less of an impact than the $4,000 enhanced rebate, so theoretically October would have been the better month to lease a car that’s under $55,000.
I suppose I need to decide fairly quick if I want to lease my Tesla instead of financing. Quite honestly I don’t think leasing is a lesser option whatsoever. I just don’t want to deal with unpredictability in the market.
that’s only on a purchase on a lease its’s only for the lease term
For a 3 year lease on an ev registration should cost $1080
I’m in the same boat as you guys. I think the sales tax ending isn’t necessarily the end of the world if these two scenarios pan out and I don’t want to make a jump into a purchase or lease just for 3.3125% discount:
- EV+ICE+PHEV sales keep dipping and EOY sales keep getting better (especially tesla with the new model Y looming q1 of next year)
- you can qualify for the additional 2k from NJ.
3.3125 can easily get taken care of if a car gets discounted another +3.3% + 2k incentive stacks on top. So it looks like I am holding out (gambling) until Tesla either lowers their price more / offers another incentive EOY to try and fix their shitty sales numbers OR @aronchi gets some better ZDX deals 
my zdx deals are the best in the country, though.
NJ peeps - NJ ChargeUp just opened registration today for the extra 2k (total of 4k now before charger incentive).
Knowing how slow NJ is to do anything I doubt we will get a response in a quick enough time to get a car before the EV tax shelter goes away this month but an extra 2k is a good thing to have in your back pocket when the right car comes around now. At this point you have to wait to strike on the right deal EOM/EOQ or near EOY.
Any idea if sales tax would apply to a car, I.e. a Tesla, with an order date of this month that’s delivered next month?
It’s not a massive difference, probably around $6xx if the state charges the rate on rebates such as the $7,500 tax credit, but still worth noting.
Take something out of inventory? Seems like a waste of money to wait until an order is delivered and then presumably taxed.
NJ buyers were smart and already snapped up all the most cost-effective inventory to lease. I did plan ahead and was prepared to finance by end-of-month, but now leasing is looking like the better option.
Is the Discord server still the best place to snap up new inventory as soon as they appear? @z0lt3c
The Waiting4Tesla discord notifications have fallen out of use, if you are looking for current Tesla inventory notifications, I would recommend using tesla-info.com – The discord server is still a great place for new Tesla owners to find a referral code to use, often with compensation.
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Hi I am very late to realize that NJ is starting to charge sales tax on EV on Oct 1, half tax until June 30, 2025, then full sales tax. Can someone help explain whether this affects prior (ongoing) leases?
a) If the lease is treated as one sale, then the tax at the point of the sale applies. I make the same payment for the reminder of the lease.
b) If the lease is treated as separate transactions, like 24 or 36 month-long rental agreement, then the tax rate at each month applies, so there will be increased monthly payment due to tax.
I assume it’s the a), i.e., no change. Can someone confirm?
Thanks (and mod feel free to combine this if another post is similar).
NJ is taxed upfront at the point of sale, not monthly
That makes perfect sense and should apply. It’s a done deal. So, the Oct 1 change should not impact leases that originated prior to that date. Otherwise, it could trigger several legal issues.
NJ taxes the sum of the lease payments, not the individual payment streams. So, that would not apply.
There is no change for an existing lease term, but there can be a new road tax starting at $250/year if it wasn’t already billed for the term of the lease prior.
To avoid the EV sales tax, does it mean the lease agreement needs to be signed and dated before Oct 1st? Or the car needs to be registered with NJ MVC before Oct 1st?
I’m wondering this as well. They have specific language that vehicles have to be delivered before 10/1, but the way it’s worded makes it sound like that stipulation was intended for Teslas.
I actually found this FAQ. See Q3. Does “take delivery” mean I have to have insurance ready, registration done to drive the car off the lot? Doesn’t seem like something that can be done in a day.
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