What is your recommendation - register in NJ or TX?
When a vehicle is leased in another state and the lessee brings it to Texas for public highway use, the lessee (as the operator) owes motor vehicle use tax based on the price the lessor paid for the vehicle. The standard tax rate is 6.25 percent. Credit will be given for any tax the lessor or the lessee paid to another state.
If you live in Texas, yes you will need to register it in Texas. With out of state leases you’ll pay the full Texas sales tax.
This is where these kind of out of Texas state deals fall flat most of the time. You’re going to be paying all the tax, whereas you might be able to get Texas sales tax credits from a dealer in Texas (that would save you $4k). You’re also going to have to get it from NJ to Texas. The only upside with getting it from NJ is you can do MSDs and maybe the incentives are slightly better.
I think with the extra tax and delivery you’ll be near $1100p/m including down payment, plus the MSD money for an $80k loaner. That’s not a good deal and with the Texas tax situation for out of state deals it’s unlikely to be better than one closer to home. I would shop the quote around, especially if you can live with a lower optioned vehicle.
I am no expert on this but what has been explained to me is that the $2050 is the tax for Texas since the car is being registered in Texas. I was also told I don’t have to pay any additional tax in Texas. Thanks.
Are you flexible on what vehicle you want? In terms of value the 2019 X6 is great, can probably get them in the $600 or $700’s depending on the model and options. Even a Merc GLS would be cheaper. Those would be vehicles sourced in Texas too. The 2019 X5 is too new for great deals.