2019 NSX lease tax question

[judsonMS]

I picked my car up about 3 weeks ago and everything went flawless love the car etc. However, on my lease it has a 73 per month tax added to the payment which I understand (5% tax on payment). I just received my first statement from Acura and the balance owed is 6k more than the contract reads for the lease. So, I called them and she informed me that was the tax on the car which they had to collect which I also understand. What my question is why would I be paying a tax on the payment and the total tax of purchase of car outright seems like that is double tax. I thought on a lease you only paid the tax over the 36 month lease not the entire tax like you purchased car outright. I have never leased before so not familiar was just shocked when I got statement and the balance owed was 6k more than the one I signed at the dealership. Any insight would be great, thanks!

 

[Sterling Sackey]

I think it depends on your state. See the section marked "sales tax": https://www.leaseguide.com/lease09/

Regardless it sounds like they should have made this clear at the dealer.

 

[DocL]

Did you get your NSX from Napleton's Crappy Acura in WPB, FL?

 

[judsonMS]

Did you get your NSX from Napleton's Crappy Acura in WPB, FL?

No, I got it in St. Louis!

 

[sfnsx1]

I picked my car up about 3 weeks ago and everything went flawless love the car etc. However, on my lease it has a 73 per month tax added to the payment which I understand (5% tax on payment). I just received my first statement from Acura and the balance owed is 6k more than the contract reads for the lease. So, I called them and she informed me that was the tax on the car which they had to collect which I also understand. What my question is why would I be paying a tax on the payment and the total tax of purchase of car outright seems like that is double tax. I thought on a lease you only paid the tax over the 36 month lease not the entire tax like you purchased car outright. I have never leased before so not familiar was just shocked when I got statement and the balance owed was 6k more than the one I signed at the dealership. Any insight would be great, thanks!

Would you mind sharing what kind of lease rate / terms you received? 73 is 5% of $1460 -- did you put any money down?

 

[drmanny3]

Could the additional tax you owe be from the money that Acura paid in to reduce the price of the vehicle? Perhaps this is treated in a similar manner to a down payment? So if the car sold MSRP for $200,000 and Acura reduced the price by $20,000 it acts as a down payment. You would be responsible for the tax on this down payment as it is treated like a early lease payment. I could be wrong but think this might be where the extra owed comes from. Let us know what you eventually learn. Congratulations on the car.

 

[DocL]

Could the additional tax you owe be from the money that Acura paid in to reduce the price of the vehicle? Perhaps this is treated in a similar manner to a down payment? So if the car sold MSRP for $200,000 and Acura reduced the price by $20,000 it acts as a down payment. You would be responsible for the tax on this down payment as it is treated like a early lease payment. I could be wrong but think this might be where the extra owed comes from. Let us know what you eventually learn. Congratulations on the car.

I doubt he was charged a 30% tax on the $20k cash incentive. I know I was supposed to pay local sales tax on the $20k, but Napleton's fucked up my contract in so many ways, that the only good thing was they failed to collect that tax and had to pay it out of their pocket.