TRANSFERRED: 2019 540i xDrive White/Cognac - 440/Mo - 3500MSD - 1000DAS

Private Transfers
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1

Year, Make, Model, and Trim: 2019 BMW 540i xDrive
Location: Central NY

MSRP: ~68,500
Monthly payment (pre-tax): $440

Current mileage: 12,200
Maturity mileage: 24,700
Effective miles per month: 1,388
Maturity date: 6/28/2021

MSD due (if any): 3500
Cash due (if any): 1000
Incentive for new lessee (if any): None

Financial institution: BMW FS
Transfer fee: 500
Out-of-state transfer allowed (yes/no): Yes

Vehicle condition (accidents, tire wear, etc.), options, and other details:

No accidents, excellent condition, garage kept. Vehicle registered in Idaho, located in central NY, leased out of NJ.

White on Cognac.

PREMIUM PACKAGE

  • Parking Assistant Plus
  • Head-Up Display
  • Wireless Charging
  • Gesture Control
  • Active Park Distance Control
  • Surround View w/3D View
  • Rear View Camera
  • Enhanced USB & Bluetooth

CONVENIENCE PACKAGE

  • Power Tailgate
  • Comfort Access Keyless Entry
  • Heated Front Seats
  • SiriusXM Satellite Radio

INCLUDED OPTIONS

Enhanced USB & Bluetooth
harman/kardon Surround Sound System
Heated Steering Wheel

COMMENTS

Heated Leather Seats, Nav System, Moonroof, All Wheel Drive, Turbo Charged Engine, Aluminum Wheels, harman/kardon SURROUND SOUND SYSTEM, HEATED STEERING WHEEL, PREMIUM PACKAGE, CONVENIENCE PACKAGE

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2 Likes
2

Car looks great. Numbers look great. The registration and location may generate some questions. Sun Valley skier? lol

1 Like
3

Exactly. Multiple residences, pick the best for financials :slight_smile:

1 Like
4

Nice!

Car looks clean and I love the view! GLWT!

5

If registered in NJ currently - does that mean anything for cost/tax/pricing when it gets moved to NY? Is it just 440 + NY ~8% tax?

6

The vehicle is not registered in NJ, it is registered in ID, and located in NY. When registered in NY most likely you will need to follow NYs tax laws, so you will pay $440/mo + NY tax upfront one time when you register.

7

got it, my mistake. Also, tax upfront on what amount though? remaining lease payments?

8

Yes, it should be on only remaining lease payments.

9

Confirmed, it’s on the remaining lease payments upfront at your sales tax percentage.

1 Like
10

Bumping this. Original transfer fell through.

1 Like
11

Just an example scenario, was trying to see truly monthly cost of this.

6/28/2021 so let’s not count current month which is half done. that leaves 9 month.
so (440+tax() = 440*1.086250 (Long Island) = 477.95)
(477.95 * 9 months + 1000 cash due + 500 transfer fee ) / 9 months =

644 effective monthly cost for the 9 months.

12

may be interested- can you tell where the car is located in CNY?

13

There was some discussion on another thread that lease transfers into NY with less than 12 months remaining may not get taxed

14

Do you have a source for this info?

This is the only document I found: https://www.tax.ny.gov/pdf/publications/sales/pub839.pdf

Which states that:

" If there is less than one year remaining on the lease term after the vehicle is
brought into the State, sales tax would be due on each monthly lease
payment at the time the lessee makes payment to the lessor. The lessor, if not
already registered, is required to register for sales tax purposes, as explained
below, and must collect tax on each of those remaining lease payments. "

15

I don’t have a source beyond seeing something in another thread. They may have been wrong or I may have misread what they wrote.

16

how much would it be to take over lease for a ny resident net ?

17

see the above example few comments before you if that’s what you were asking for