Correct, but your buyout taxes are on the buyout amount, so you pay the same taxes upfront in either situation, but have a sognificantly lower buyout on the onepay.
One pay does not confer lender tax credit at this time so the saving would be negligible.
Without any lender credits in play, youāre paying tax on the value of the car at lease inception.
And then again at buyout.
Important to run the numbers for a pure purchase with purchase rebates vs a lease followed by immediate buyout.
Didnāt the RAV4 prime guy pay tax on the value of the car at buyout? Like Texas dmv didnāt care what the buyout price was, they went by their own valuation IIRC
That definitely changes the math
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Well shit, so if I understand correctlyā¦
Example scenario:
MSRP: $75k
Sale Price: $65k
Taxed on $75k (value) = ~$4700
Taxed on $75k (value) again (because immediate buyout) = $4700
Sale Price plus Taxes ~= MSRP before tax
If there are TX sales tax credits available, then do whatever you can to get those. If no onepay, then onepay is off the table. Sounds like @IAC has you taken care of here.
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The double taxation on the full purchase price when leasing and then again when buying out the lease essentially nullifies the good deals that brokers can get for you. I am exaggerating a bit obviously, but it does reduce the ādealā effectiveness by a lot.
For example:
MSRP: $72k
Sale price: 64,800
Rebates/incentives: 8500
Total cost after buying out: $68k
Does anyone have advice for leasing and subsequently buying out in Texas while maximizing savings?
The best thing to do in TX is focus on something that gets sales tax credits
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No guarantee on when that happens but one could always order on spec and if they happen to be back when the car arrives thereās no reason why we would not confer it if itās available.
Iād be fine with putting in the order, as long as Iām not obligated to purchase if the credits donāt actually come through. Thoughts?
Curious why do you actually want to buy out an EV ? Why not just lease it for the entire term and get into something elss ? Is mileage the issue ?
This may be something I should consider more heavily, but it doesnāt make sense to me to rent things (not saying it is actually bad though). I always paid cash for cars and I never spent >$10k on a vehicle. Now I am in a much more fortunate position in life and I kind of want a nice car.
For me, the idea of dropping 72k on a 72k car seems insane and I wonāt do it, but spending 60k on a 72k car somehow makes āmoreā sense in my head.
Again, Iām definitely not saying Iām right, and Iām open to hear other opinions/justifications, but itās hard for me to spend so much money on something to just hand it back.
Rather than think of it like that, think of it like youre purchasing with a guaranteed repurchase price after 3 years.
Now compare the total cost of that purchase option vs a normal purchase. Realistically look at used values and think about how your guaranteed repurchase price compares to what the market has actually been doing. Look at your total cost of ownership in both circumstances. How does it actually compare price wise?
Sorry but you should really look into resale prices of 2022 and 2023 model year EVs and you will realize that even paying 60k on a 72k ev wouldnāt make sense. Depreciation on EVs is a lot different than the regular ICE vehicles. If an EV is your only consideration for a new car, than I suggest you reveiw some threads in the Shared Deal sections to understand the deals specifically on EV leases.
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The sticker was an arbitrary number to begin with. Its main purpose is to make one assume itās a luxury product due to the price and to make one assume a big discount makes it a good deal.
The secondary market for these overpriced cars is very thin. So take advantage of that and buy, say, a 2022 Polestar 2 for $28k or lease one despite the suboptimal tax situation. Just donāt make the mistake of thinking $60k plus double tax is any kind of ādealā
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I found what I consider a good deal on a 2022 M50. Iām interested in hearing thoughts on the deal though.
Additionally, the $2.5k shipping charge seems excessive, but I am unsure what is considered typical. Is shipping cost something I can negotiate?
Thanks!
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Permaplate is just a bs dealer add on. Your selling price here is simply $56490.
Shipping to PR?
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