Hey maybe I missed it in this thread but what about all the fees paid at the dealership like the sales tax. Was that reimbursed. My ‘21 S60 Rdesign is looking like a total due to the flooding in nyc a couple weeks back. I’m planning to get the same exact car but a ‘22 as I love my car but am concerned having to repay those taxes and fees. Are they reimbursable at all?
I created a new topic for your question. Usually no, but it’s a question for your insurance company.
Also may be depends on the state?
Does NY charge tax upfront or on monthly payments?
NY is upfront.
This should help. @trusted_legacy_group may want to put it in a wiki so everyone can find it useful.
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Not always. My last few leases, I either paid nothing up front or just first month/ dmv
NY taxes were paid to the state up front, they were just amortized into your lease. This is different than states where the tax is paid to the state monthly.
Ahh that makes sense.
Guess this scenario is another good reason to have bare minimum drive off and roll as much as you can into monthly payments.
It’s not really that cut and dry. It also means you’re paying sales tax and rent charge on your amortized sales tax, so it costs you a good bit more money in the end rather than paying the tax up front.
Paying tax on tax upfront to avoid the small risk of a total loss is the kind of insurance @trism loves.
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