Oils4AsphaultOnly
Well-known member
Hi all,
Back in April, I was offered $7500 of an early lease buyout, but I didn't take the offer. At the time, the sales guy's manager told me that my final offer was too low and went on to explain that the sales tax was based off the full residual value and NOT the sales price after the $7500 credit.
As I will be returning my leaf soon, I wanted to be well informed in case of any last minute buyout offers. Is the sales tax (LA county in california is ~9.5%) really applied against the full residual value?! That's a $741 difference!
example:
residual value: $12,000
NMAC credit towards buyout: $7500
dealer processing fee: $300
sales tax on full amount + fee: $1,168.50
sales tax on discounted price + fee: $427.50
I get that the dealer will want their pound of flesh, but this seems more predatory. Am I mistaken?
Back in April, I was offered $7500 of an early lease buyout, but I didn't take the offer. At the time, the sales guy's manager told me that my final offer was too low and went on to explain that the sales tax was based off the full residual value and NOT the sales price after the $7500 credit.
As I will be returning my leaf soon, I wanted to be well informed in case of any last minute buyout offers. Is the sales tax (LA county in california is ~9.5%) really applied against the full residual value?! That's a $741 difference!
example:
residual value: $12,000
NMAC credit towards buyout: $7500
dealer processing fee: $300
sales tax on full amount + fee: $1,168.50
sales tax on discounted price + fee: $427.50
I get that the dealer will want their pound of flesh, but this seems more predatory. Am I mistaken?