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      02-15-2006, 10:07 AM   #1
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Question Should I be getting a Tax Break?

Hi all... I live in NY State... I traded in 2 vehicles for my 330i (still waiting for delivery) and I was wondering: When I purchased cars in the past, I would pay tax on the difference between the trade-in price and the price of the new car... vs. tax on the WHOLE new vehicle value. Does that work for leasing too? My Dealer is charging tax on the vehicle sales price and says when leasing, the trades have no effect on tax owed. Thanks!!!
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      02-15-2006, 02:55 PM   #2
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The dealer should be charging you the tax based on the monthly payment (depreation plus interest) and not on the FULL sales price of the car.

Here a link to a NYS depart of Taxation Opinion on this exact issue (in fact, the request came from BMW). Note that the date on this is 2000, so I'm not sure if it still holds.


I've never traded in a car for a leased on, so I'm not sure about how that effects it, but you should not have to pay sales take on the WHOLE cost of the car, only the part that you will be using (plus the interest on the lease).
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