Informed that my total monthly payment would stay the same.
Started getting statements during the extension.
They’re now adding state sales tax on top of the payment!?
Told them they informed me the amount would stay the same and that I recently extended a VW Credit lease as well, and that the total monthly payments have remained the same on that vehicle.
US Bank is blaming the NY, stating that in NY they have to add tax.
I told them VW Credit hasn’t done this; they had no answer for me.
The pay off with both leases are being reduced by depreciation portion of the monthly payment (not the rent charge portion of same).
Why wouldn’t they charge you sales tax? You are using more of the vehicle, the residual value is lowering every month. Of course you pay sales tax. Or are you under the impression that if you extend your lease indefinitely you could buy it out without paying tax? That’s not how taxes work
You pay tax on the total of the monthly payments on leases in NY. Now that your lease is up, each monthly payment will be taxed at your local tax rate.
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