Lease Transfer Tax

f30nynj · 07-29-2014, 03:54 PM

Hey Guys,

Any of you guys who assumed someon else's lease tell me if you had to pay any taxes for registering the car in a different state?

Car leased state: NJ(Tax paid in full upfront)
Assuming Party: FL

Do you know how much % and is it charged on the monthly payment or on the current buyout price? Say sales tax in FL is 6.5%.

If any of you guys seen the monthly price go up after assuming the lease? BMW FS doesn't know and asked me to check with FL DMV. And FL DMV is asking me to come-in and talk to their tax dept or some guy. The FL DMV is not at all responsive.

Thanks

bkM3 · 07-29-2014, 05:40 PM

i got rid of my lease via lease transfer and i know it definitely has to do with the state that you are registering it in. i did NY to NY and the other guy had to pay the taxes upfront on the remaining payments directly to the dmv even though i had already put taxes in the payment on my lease. i think some states you just need to pay the difference but i dont think that it affects your payment, i believe you would need to pay it all upfront.

07-29-2014, 03:54 PM	#1
f30nynj Chilling 91 Rep 319 Posts Drives: 2017 F25 X3 Join Date: Sep 2011 Location: NY/NJ iTrader: (1)	Lease Transfer Tax Hey Guys, Any of you guys who assumed someon else's lease tell me if you had to pay any taxes for registering the car in a different state? Car leased state: NJ(Tax paid in full upfront) Assuming Party: FL Do you know how much % and is it charged on the monthly payment or on the current buyout price? Say sales tax in FL is 6.5%. If any of you guys seen the monthly price go up after assuming the lease? BMW FS doesn't know and asked me to check with FL DMV. And FL DMV is asking me to come-in and talk to their tax dept or some guy. The FL DMV is not at all responsive. Thanks __________________ 2017 F25 X3 -> Current 2016 F10 535 -> SOLD 2014 F30 -> SOLD 2013 F30 -> SOLD 2007 E90 -> SOLD
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07-29-2014, 05:40 PM	#2
bkM3 Captain 48 Rep 646 Posts Drives: 06 M3 Vert 6MT Carbon/Black Join Date: Sep 2007 Location: Brooklyn iTrader: (1)	i got rid of my lease via lease transfer and i know it definitely has to do with the state that you are registering it in. i did NY to NY and the other guy had to pay the taxes upfront on the remaining payments directly to the dmv even though i had already put taxes in the payment on my lease. i think some states you just need to pay the difference but i dont think that it affects your payment, i believe you would need to pay it all upfront.
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