Are you sure about this? Did you read this on their site or get it in writing? I’m about to assume a lease from Florida that has less than 11 months remaining and trying to figure out if I’m going to get hit for the NADA value of the car as a whole currently or something more reasonable. To make it more interesting, there are no remaining payments on the car.
I spoke to Virginia dmv, Bmwfs was zero help. I can only tell you what they told me. I ended up not acquiring the lease so got nothing in writing. I recommend you spend the significant time required with the dmv yourself to make sure that is correct and I would get it in writing. Good luck.
VA is worst state to lease. I leased my Lexus and I had to pay property taxes along taxes on the FULL purchase price of the car, not the monthly. When I moved to NC, VA was still charging me property tax, which I refused to pay as I did not live there. Lexus already paid VA so every time I made a payment, it still will show a balance… this made me have 7, YES 7, late payments. I finally got it all straightened out 6 months later and Lexus would only waive 4 of the 7 late payments.
Let us know the result. Curious what the outcome will be. I wouldn’t be surprised if different DMVs give different answers. Doubt they see many one pay lease transfers. DMV supervisor will probably be making it up as they go.
I’ve dealt with this a few times moving between Massachusetts, VA and DC. Each time it has been pretty easy to submit online form telling Arlington county/Massachusetts I moved. Did you try to tell the County you had left?
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There is something off with your story. Property tax is sent to the captive once per year. They pay it and then bill you a lump sum. It is not a monthly payment. It is on you to tell the dmv you moved and to stop charging property tax. You can also get the excess paid returned to the captive and eventually to you.
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LFS put a balance in my account of $2400 in property taxes so if I paid my monthly note as usually, it still showed a $2400 balance. I didn’t pay it so 6 months went by as late payments. I got it resolved After I turned in my lease as they saw the car was registered in NC. It was a clusterfuck and Va DMV didn’t help and kept saying I had to go in person
The thing is VA charges the sales tax based on the “purchase price” of the leased car upfront. It’s not difficult to have it rolled up into your monthly payments, but the VA DMV gets their taxes when the car is registered. Other states typically get their taxes money based on the payment amount.
Yup exactly but if you are leasing a luxury car you might have gotten a good deal. Upfront taxes on full purchase price sucks. I think GA had this and changed it this last year
Now that makes more sense.
I’m no financial wizard but that seems like a less than ideal way to “handle” that. We just found out the dmv was overcharging on our x5 for the past 2 years, it was not exactly fun but was resolved in 3 phone calls and 30 minutes of time.
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Yeah so now NC You pay property taxes when you register your car or renew, which is much easier to keep track and you can just go to local dmv to dispute anything.
LFS just paid it with no confirmation of what’s what.
Did you mean our tax department, not DMV? 
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Yes sorry dta, j had the pleasure if dealing with it not me.
Hate to bump an old thread, but I’m curious what any of the other Virginians had to pay in sales tax when registering a lease transfer?
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Inifinti allows you to pay off the property tax over the life of the lease (e.g. roll in).
This happened to me sort of. I moved from Alexandria City to Fairfax County and got double dipped for property tax for two cycles after registering my car in Fairfax and notifying Alexandria tax office it was no longer garaged there (archaic process btw). Infiniti paid BOTH property tax bills before I could even see them and added them to my balance. I had to convene a 3-way call with NIFT and Alexandria City Tax office to sort it out, getting Alexandria to verify info about my address change and the payment NIFT already made to Fairfax, and then agree to remit a check to NIFT for the amount they errantly paid. Once they had the confirmation NIFT removed the remaining balance for that double dip.
This dumbfounds me. How do they estimate ahead of time? I know the calculation but still feel it’s a total crap shoot.
From the lenders - yeah, I’m pretty sure they have no idea how it’s calculated. Volvo estimated around $600 for 3 months first, then reduced to $200 when the actual was $107
They didn’t estimate mine. VA sends the personal property tax bill to the registered owner which is the bank (in my case NIFT) whi blindly pays it under the assumption it’s correct and then add it to your balance.
Right. I should have said it was at the end of lease, after I returned the car and my account was closed. So they estimated before getting the bill from the county.
Yeah I just had everything on auto pay so didn’t pay attention till I got a call saying car is up for reposition 