Hello everybody! Im basically new to the forum, I've spent hours reading your posts and I have to say they have helped a lot!! :bow:
I am planning to lease my first BMW and actually my first new car ever! a 428i M-sport :happyanim: so naturally I'm starting to have bunch of questions!
First of all I live in El Paso, Texas where there is only one dealership and no other even close from me :( , I requested a quote from them and apparently they are not willing to negotiate, they told me that the only thing they can do for me is 500 off MSRP, which I think is not a good deal... Anyways, my only option is to lease the car out of state (most likely from David Aviles in California), so i have several questions regarding tax. Will i have to pay taxes in California or only in Texas? If I do have to pay taxes in California, I know that Texas gives us credit for the amount paid to another state, since we have to pay taxes on the cap cost of the vehicle :( , unlike California where you pay taxes on the leasing amount.
This is where my second question comes, if I roll in the taxes from California into my lease payments, would Texas give me the credit, since according to their webpage, they only give you credit for the amount paid at the time of registration, which technically would be the tax amount for 1 monthly payment? Im so confused by this since my plan is to roll in the CA tax into my lease payments, and then receive credit for that in Texas and pay the rest cash at the time of registration, so now idk if this would actually work :(. Any help is greatly appreciated! Thanks in advance to everyone!!
I am planning to lease my first BMW and actually my first new car ever! a 428i M-sport :happyanim: so naturally I'm starting to have bunch of questions!
First of all I live in El Paso, Texas where there is only one dealership and no other even close from me :( , I requested a quote from them and apparently they are not willing to negotiate, they told me that the only thing they can do for me is 500 off MSRP, which I think is not a good deal... Anyways, my only option is to lease the car out of state (most likely from David Aviles in California), so i have several questions regarding tax. Will i have to pay taxes in California or only in Texas? If I do have to pay taxes in California, I know that Texas gives us credit for the amount paid to another state, since we have to pay taxes on the cap cost of the vehicle :( , unlike California where you pay taxes on the leasing amount.
This is where my second question comes, if I roll in the taxes from California into my lease payments, would Texas give me the credit, since according to their webpage, they only give you credit for the amount paid at the time of registration, which technically would be the tax amount for 1 monthly payment? Im so confused by this since my plan is to roll in the CA tax into my lease payments, and then receive credit for that in Texas and pay the rest cash at the time of registration, so now idk if this would actually work :(. Any help is greatly appreciated! Thanks in advance to everyone!!
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