Tax Question: Texas resident leasing car from Oklahoma dealership

Ask the Hackrs
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1

Anyone from Texas lease a car from Oklahoma dealership (Hyundai)?

Just wondering if anyone that lives in Texas has leased a car from a dealership in Oklahoma…

How did registration/taxes work?

Did you end up paying 6.25% of the entire cars value / agreed purchase price when you went to register ? Or did you pay it upfront at the dealership in OK.

Thanks

2

What’s the car? Is there the possibility you could get lender tax credit on said model leasing it in Texas?

3

The OK dealer probably will ask you do the paperwork yourself. When you have your trip to the tax office, you would have to pay 6.25% of the vehicle selling price not monthly payment. Typically when the tax is factored in, the monthly payment is very horrible. I would recommend using Mike from IAC (the broker who comment above) to help you find a deal with sales tax credit from manufacture

4

Ioniq 6 SE

5

You will pay the full 6.25% sales tax on the sales price of the vehicle. Sales tax is based on the registering zip code. Not where you buy the vehicle.

6

I found a lot of OK dealers don’t want to do TX leases for some reason. Nonetheless, your best bet is as suggested to find a mfr/lender/store that is passing on the tax credits.

7

It doesn’t really matter where you pay it. Ideally you shouldn’t be paying it at all if you find a deal at a TX dealer with tax rebates.

8

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