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2014-11-28
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2018-05-03
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2018-09-10
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2024-11-13
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2024-10-26
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2022-11-27
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2021-07-18
I think it is good however I already…
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2020-10-09
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Do you have to pay excise tax on a lease?
If Your Car is Leased cars are still subject to excise tax. If not addressed, the driver should inquire of the leasing company. Normally, if the car is registered in the driver's name, the registration creates an obligation and liability for payment of excise tax upon the driver, not the leasing company.
Do you pay town taxes on a leased car?
Who Pays the Personal Property Tax on a Leased Car? In states that levy a personal property tax, you may be paying a percentage of your car's market value to the public treasury. If you're leasing, however, you're not the legal owner and may not be liable. It all depends on the lease agreement that the dealer offers.
How much tax do you pay on a leased car?
This means you only pay tax on the part of the car you lease, not the entire value of the car. For example, if your local sales tax rate is 5%, simply multiply your monthly lease payment by 5% and add it to the payment amount to get your total payment figure.
Do you pay excise tax on a leased vehicle?
Leased cars are still subject to excise tax. However, whose obligation for payment is determined by any terms in the original leasing contract. If not addressed, the driver should inquire of the leasing company.
Do you pay sales tax on a leased vehicle in Massachusetts?
For a leased vehicle, you will have to pay Massachusetts' 6.25% sales tax on the lease price, which would be applied to your monthly payment.
Do you pay property tax on a leased car in KY?
If leased vehicles are reported the public service company, as lessee, must be responsible for paying the motor vehicle property tax.
How much are taxes and fees on a lease?
Any down payment you provide will lower your monthly lease payment. In most states, you will be charged sales tax on any down payment you provide. Just as in a regular car purchase, you will have to pay the dealer and state licensing fees. Dealer documentation fees can range between $50 and $695.
Can you negotiate the money factor in a lease?
Negotiate the interest rate (money factor) on the lease to a level appropriate to current market interest rates. Also, when the lease ends you typically have the right to buy the car at the residual value.
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