Quote:
Originally Posted by TurtleBoy
Virginia has a 4.15% sales and use tax on vehicles. For leases it must be paid upfront (although it can be rolled into the lease) on the selling price of the vehicle rather than on the monthly payments or sum of monthly payments.
Edit: Correction, the taxable amount is the selling price + the dealer processing fee minus any rebates. For the dealer mentioned above that would be (69,925 + 579 - 1,250) * .0415 = $2,874.04.
|
Okay that makes perfect sense. In this scenario, it sounds like the dealer is applying it up front. So, for example, the $5k driveoff scenario would consist of $2,874 sales tax + $579 processing fee + $75 tag/title + $868 first month's payment + $954 cap cost reduction + $900 acquisition fee (less the $1,250 rebate).
Basically, you are in fact getting 10% off before incentives, which is a great discount as you'll notice from other members here on the forum. You likely have room to squeeze maybe an additional 1%, but won't be surprised if the dealer does not budge. Also keep in mind the CCA post-purchase rebate (if you signed up to be a member before 1/1/2020). Good luck!