E90Post
 


Extreme Powerhouse
 
BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > New & Preowned BMW Ordering / Pricing / Tracking Information Forum (including European Delivery) > tax benefit when trading car in towards a lease?



Reply
 
Thread Tools Search this Thread
      08-26-2011, 04:28 AM   #1
Presice
Private
32
Rep
57
Posts

Drives: E39 M5
Join Date: May 2011
Location: Long Island

iTrader: (1)

tax benefit when trading car in towards a lease?

Hi,

I am most likely picking up a new e92 in a couple of days. I will be leasing the vehicle. I currently have an '03 e39 which is fully paid off that I am replacing with the e92. Initially, I was thinking of trading in the car, but I think I may be better off selling it private party or to another used car dealer as I will get more $.

However, I don't understand the tax benefits of trading in a car towards the lease of another car. Can someone help explain this to me? Also, am I better off trading the vehicle into the same dealer I am buying the car from in order to take advantage of the tax benefits?

I am located in NY state, Nassau County. The car I'm trading in is registered here and I will be leasing the new car from a dealer here if that makes a difference.

Thanks for the help.
Appreciate 0
      08-26-2011, 08:32 PM   #2
PKL
Brigadier General
PKL's Avatar
872
Rep
3,276
Posts

Drives: 2020 M4, 2022 X6
Join Date: Oct 2008
Location: San Fernando Valley

iTrader: (1)

If you were buying the car the answer is simple. The purchase price of the car is reduced based on the value of your trade therefore you pay less in sales tax. I have no idea how it works with you, I don't lease cars.
__________________
Appreciate 0
Reply

Bookmarks


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 07:33 PM.




e90post
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST