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Originally Posted by BMW Lunatic
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Originally Posted by LSM
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Originally Posted by BMW Lunatic
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Originally Posted by Resjudicata
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Originally Posted by Vic55
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Originally Posted by BMW Lunatic
Could someone kindly please confirm if this is true ? $4000 cash allowance ? Can this be stacked up for lease or is this for finance only ?
Many thanks in advance,
Lunatic
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any more details? I have a hard time seeing them over their own money when their rates are already super low (up to 100k) |
Correct; they max out at $100k per car and $250k total vehicles per household. |
Thanks bud ! So it's for a purchase only . |
Penfed has balloons too. Not lease but in a tax credit state can be good bc acts like a lease but you can keep tax credit.
I never personally used them but my friend does balloons from them all the time or did until IL tax credit laws changed |
Can u experts explain me tax credit ? I switch cars like crazy I am in Jersey I do atleast 2 new leases with Bmw a year and this is a state where we pay taxes upfront on the entire lease .
Every time I swap my car and return the tags to the dmv /MVC can I ask for a refund on the months I didn't use the car since tax is paid upfront on the entire lease term ? |
it varies by state law. very specific to each location and in some cases even city by city or town. but mainly governed by state law.
For example, in Virginia there is no advantage to lease because you pay the FULL tax for any and all cars. you only get a "credit" of you trade in a vehicle at the same time when buying to offset.
for example, in Virginia; if you buy a $100k car; taxes is $5500. if you buy a $120k car with a $20k trade in, you pay the same $5500. if you buy a $125k car, you pay $7000 taxes. non refundable, not returnable. one time tax.