[Boostin335]

Hi,

I am wondering how the tax piece works. If anyone has taken a car that was in NY and they live in NJ. NY has 8.875% tax, and NJ is 7%.

If NY car with tax all in is $550, the NJ lease would be $536.

Does BMW adjust this when you assume it? Would love to hear from anyone that has assumed a lease going from NY to NJ.

[smithf80]

I mean, they can't charge you NY tax on a car thats being registered in NJ, so I'm sure they just adjust it.

[f30nynj]

I assumed lease from another state as well but my monthly payments went up.

Original owner leased by rolling in VA state tax into the payments. And BMW had to pay the VA tax upfront and then roll the payments with interest. His payment was $444 and after transfer my payment went up to $475 due to NJ tax on monthly.

Again, I don't know how it happened but I ended up paying higher than his dues and traded in the car in 1year. I made him pay the transfer fee and 2 months, so it was prett good deal for me.

[Sayzar]

I finance my last car in NY and I live in NJ - I paid NJ taxes NOT NY. The dealer gave me a 30 day temp plate and mailed me my perm plates along with the registration- all I had to do is go to NJ DMV to pick up the NJ inspection. I am sure it's the same with a lease. if you are looking for a good dealer that is not going to jerk you around go to Rallye BMW and see Gail Hale.

[wdeerfield]

Originally Posted by Sayzar

I finance my last car in NY and I live in NJ - I paid NJ taxes NOT NY. The dealer gave me a 30 day temp plate and mailed me my perm plates along with the registration- all I had to do is go to NJ DMV to pick up the NJ inspection. I am sure it's the same with a lease. if you are looking for a good dealer that is not going to jerk you around go to Rallye BMW and see Gail Hale.

the OP is doing something like swap a lease from a previous owner of the vehicle. With leases the tax is capitalized and included in the payment. More than likely they will figure out the remaining months on the lease and what the tax amount should be based on the tax rate of NJ. if anything they would keep your payment the same and just cut you a check for the small tax difference.