02-08-2021, 05:26 PM | #1 |
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Penfed $4000 cash allowance TRUE ?
Featured on BIMMERPOST.com Many thanks in advance, Lunatic
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02-08-2021, 06:01 PM | #2 |
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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)
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02-08-2021, 10:32 PM | #3 | |
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Btw I scored a crazy deal on a m8 write up to follow soon .
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02-08-2021, 10:39 PM | #4 | |
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So it was like a discount or trade in credit. In fact on the final sheet; they basically added it to my trade in and took it off the bottom line. |
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02-08-2021, 10:40 PM | #5 | |
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02-08-2021, 11:12 PM | #6 | ||
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02-08-2021, 11:20 PM | #7 | |||
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I never personally used them but my friend does balloons from them all the time or did until IL tax credit laws changed
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02-09-2021, 07:50 AM | #8 | |||
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02-09-2021, 11:07 AM | #9 | ||||
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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 ?
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02-09-2021, 12:06 PM | #10 | |||||
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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. |
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02-09-2021, 12:21 PM | #11 | |
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I know my post means nothing but sometimes Im just pissed off LOLOLOL
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02-09-2021, 01:20 PM | #12 | |
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02-09-2021, 03:50 PM | #13 | ||
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02-09-2021, 03:56 PM | #14 | ||
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02-09-2021, 04:49 PM | #15 | |||
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02-09-2021, 07:37 PM | #16 | ||||
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However, that said, a casual look online appears that NJ is very similar to Virginia law with regards to car sales tax. Except the rate is around 7% (6.67?). The only way it appears to get around the sales tax is with a trade in vehicles; and/or if you are a disabled Veteran. If you're disabled, you can offset any payments from the military VA towards NJ sales tax up to the amount of disability payments. Besides that, it looks like only trade in cars get credit. Disclaimer: I'm not a NJ attorney and you should consult a local NJ counsel before taking any tax advice. |
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02-09-2021, 07:43 PM | #17 | |||||
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Again: consult with a local tax attorney. |
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02-09-2021, 07:49 PM | #18 |
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Didn't ask, but add tax for the "purchase extras" like extended warranties, services, doc fees, prep fees, or other dealerships "extras" because those appear to be full tax in NJ.
Again consult a local tax professionals. |
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02-09-2021, 08:38 PM | #19 |
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There's no tax credits given away by dealers
You buy a car for 100k pay tax on it. A year later trade it in for 80k and buy another 100k car you only pay tax on 20k. You're not paying tax over and over in states that you get tax credit on. Used to be almost every state you got tax credit for your trade toward the new purchase Laws change as states overspend more and more and want more and more money LOL
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02-09-2021, 08:48 PM | #20 | |
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I will definitely consult a tax attorney on this . Here's my scenario as stated above . Lease a car with very few bucks out of pocket ( although whatever your monthly lease payment is for 36 months we are taxed on that 6.625 upfront ) So any car you lease in jersey taxes are paid for entire lease term. So every 4-6 months into a car its sold on swapalease a new buyer gets into it . I take my tags off and surrender at the local motor vehicle center . Question is when I return the plates do I ask for a refund of taxes paid for the remainder of 30 Months ? Since I swapped it in 6 months ? Who do I ask for the tax credit/ refund ? End of the year when I do my taxes ? Apologies not sure even if this is possible ?
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02-09-2021, 09:06 PM | #21 | ||
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However, based on what you say above; I don't think you get any credits. But I don't know, you're going to need to ask an expert. |
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12-29-2021, 09:45 PM | #22 |
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So is this the page for BMW and then click on the M8?
https://penfed.truecar.com/oem/landi...W&utm_content= Its $4000 off with 0.9% for 36 months, 1.99% for 60 months? I feel like I saw a different page the first time I looked at it with different types of numbers, but now I can't find that page. So I can get 4k off via penfed or according to this BMW dealer's site $3k of a 2021 or $1500 off a 2022? https://www.bmwofgreenwich.com/bmw-i...yalty-program/ So what's the reason or advantage to use BMW financing over penfed? And, according to the BMW website, is there no loyalty on the 8's? https://www.bmwusa.com/special-offers.html Offer available to qualified customers with excellent credit history who finance through BMW Financial Services NA, LLC. Offer limited to customers who have owned a BMW model in the last 12 months. In order to qualify for a BMW Loyalty Credit, loyal current or former BMW owners or lessees must show proof of ownership or BMW Financial Services NA, LLC account number and qualify for credit approval. Available credits: up to $1,750 off a new 2022 BMW X3, up to $2,500 off a new 2022 BMW 3 Series Sedan, up to $2,500 off a new 2022 BMW 5 Series. Must take delivery by January 3, 2022. Availability of finance and loyalty credits are subject to dealer participation. Visit your authorized BMW Center for important details.
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