Yes you get sales tax credit for the lease in MA
Issue 1(b):
If a retail customer trades in a motor vehicle to a dealer and receives credit on a motor vehicle lease, is the amount of the credit attributable to the tradeāin part of the sales price subject to tax and, if so, who is responsible for collecting and remitting the tax?
Directive 1(b):
A tradeāin credit on a motor vehicle lease, either as a Capitalized Cost Reduction or otherwise applied toward payments due under the lease, is not part of the sales price subject to tax if all of the following criteria are met:
(1) the dealer holds a valid Massachusetts Vendorās Registration Certificate,
(2) the dealer entered into the transaction in the regular course of business,
(3) the lessee previously paid tax on the vehicle tradedāin or was exempt from tax on the vehicle tradedāin, and
(4) the vehicle tradedāin was titled to the lessee.
The amount of a tradeāin credit is generally the value of the vehicle traded in less any debt encumbering that vehicle. If all of the above criteria are not met, the amount of a tradeāin credit is part of the sales price subject to tax in accordance with the provisions of 830 CMR 64H.25.1 and Directive 97ā4.
Nice! Always heard it but havenāt seen it!
I donāt know where you are in CT, but during preliminary research before reaching out to @Bostoncarconcierge nobody in Fairfield County came close to the deal he gave me. Plus Toyota dealers in general (not all, but many) suck. Dealing with Mike was by far the easiest and most transparent car deal Iāve ever done. He does all the work (which is why you pay him) and gets you the best price. The dealer I ended up leasing the truck from (through Mike) drove 3+ hours 1 way to meet me at the DMV closest to my house. Iāve had my 2019 Tacoma TRD Sport (Double Cab/Long Bed/Automatic) for 2 weeks now and am very happy with it.
Trust me I know!
Itās terrible around here. We went to a dealer in Westport last year just to test drive a 4Runner to see if my wife even liked it (Iāve posted about it before on here somewhere) and they quoted me something like $700 a month with $2500 down for 42 months, something outrageous for a base SR5. I laughed but knew I wasnāt buying it there anyway so I didnāt push. He said to me and I kid you not:
āYeah the payments are a bit high but at the end of the day, you are driving a phat ride!ā
We laughed the whole way home.
Any deals on Rav4s or CRVs or CX-5s please in Boston Area?
All of them my friend
Let me know what you need
Hi All,
The Pro and Highlander āBlowout Dealsā in the spreadsheet are currently on pause until further notice as the dealer needs to catch up and check inventory levels.
All other Toyota deals are still active and on the table. Theyāre still incredibly strong!
Best,
Mike
I would need Rav4 LE AWD/RAV4 LE AWD(with blind spot) OR Kia Sportage LX AWD(with blind spot). My wife is too obsessed with blind spot monitoring, sorry
Thank you.
So you mean to say the old GM has finally been taken away in a straitjacket and been replaced by someone sane?
Hahahaha
Nope! I hope to unpause soon
They didnāt expect this reply.
Power of leasehackr!
Woah insane Highlander deals
Killer deal!
Love the Pro!
Lovely truck with lovely deal!
You rock Mike
I will be in touch when itās time.
Canāt wait for mine. Mike gave such a good deal on the Highlander, I had to pick up a pro for myself.
Wow, what great deals. Iām in the market for a Highlander. Any idea when youāll be able to unpause? Is it a matter of days or weeks? Thank you!
Hoping for next week!