Last month[dec 2023] my neighbor got a lease on iX and mentioned that his sales tax on lease was only 1% instead of TX 6.25%. The dealer told him BMW runs sales tax credits on leases twice a year on slow selling models.
Now, in TX we get taxed on entire sales price so this will make a significant difference in lease.
My question is how do we find out when this sales tax credits for leases are available? I tried searching for it but could not find any info. My neighbor just happened to visit BMW dealership for a iX test drive at end of year and found this out.
Honest question, why dont dealers advertise this when they are doing sales tax credits for a specific model? In my case, my friend found this out because he happen to go for a test drive. He mentioned this to few other friends and they could go and sign before the end of tax credits. I mean its more lease sales for dealer unless I am missing something. Should I be looking at dealer websites regularly because going every month to dealer store asking sales tax credit deal is not feasible.
I will fill out your inquiry form to stay up to date when we have TX lender tax credits. I was looking for iX but now with lender tax credit gone and MF increase I am easily looking at $300/month extra than what my neighbors/friends paid at end of Dec in DFW area. In your experience will that kind of deal come back by end of this year or was that one off to move the iX’s.
I think it was to clear some backlog buildup due to a part shortage that held cars up at port for months…
Best case scenario, end of Q1 we see some incentives come back and lender tax credits make a limited appearance to close up MY24 before they start building MY25. Perhaps with an MSD requirement if the trends I’m following are any indication. If you were looking to do a custom build it might not be bad timing to throw an order in now with us on spec.
If lender tax credits come back around that time and incentives improve we have absolutely no reason to hold them back on you.
GM Fin (Captive) has cut Tax Credits to half of original MSRP. Not bad especially if you have a non-leased trade-in. However- 2024 Equinox DO have full tax credits through GMF.
Non-Captive (USBL/ALLY) have full tax credits available, although their residuals/MF’s don’t ALWAYS* align for the best deal- and can limit your EOL options unless you work with a “Smart” dealer that has USB/ALLY buyback relations.
