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Old 11-15-2009, 07:29 PM
 
735 posts, read 2,413,247 times
Reputation: 238
Default tax question (specific to new car lease)

Hi folks -

I'll keep it simple.

When leasing a new car in MA, do you have to pay up-front sales tax? From what I understand, we will pay 6.25% on top of the monthly payment.

But at lease signing, what sales tax is due?

Is it tax on the down payment? Or more?

Thanks!

*edit* I just read online that in some states sales tax is collected up-front on car leases but MA is NOT one of those states. Is that correct?

Last edited by NY'er lost in MA; 11-15-2009 at 08:00 PM..
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Old 11-16-2009, 08:48 AM
 
735 posts, read 2,413,247 times
Reputation: 238
wow - nobody knows the answer to this -including me
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Old 11-17-2009, 01:06 AM
 
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Hey Lost. Long time no hear from. I wish I could give some detailed inside info, but am unfamiliar with the process of leasing a car. I'm guessing that the reason you're seeking this info is that you'd feel more confident about info from the leasing company itself if you already had the facts from an independent source. One thought I have is that you might contact the RMV. They often are a good source of information about anything automobile-related. At least it may be a place to start. Best of luck finding out what you need to know, and take care.
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Old 11-17-2009, 04:38 AM
 
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Hey Ogre - good to hear from you too.

I did confirm that MA is a state that does not charge up-front sales tax on leases. They are based off of the monthly payment and tacked on each month.

I did conform it through the leasing company- the dealer confused me because they though we were financing.
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Old 11-17-2009, 03:41 PM
 
5,198 posts, read 8,709,179 times
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So it sounds as if you've found the info you need. I guess there are pros and cons to the different systems for handling the tax. Moot point anyway, since you operate with the system in place where you're living. Best of luck with the deal.
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