NY Leases
#1
Instructor
Thread Starter
Join Date: Sep 2003
Location: Lake Success, NY
Age: 64
Posts: 246
Likes: 0
Received 2 Likes
on
1 Post
NY Leases
This may be a stupid question, but perhaps someone out there knows the answer.
Due to the "wisdom" of our legislators in NY and the "wisdom" of Honda to pull out of the NY leasing market, thereby making Lexus and Infiniti (at least) that much more competitive than Acura, you can't lease directly from Acura in NY. This increases the effective interest rate and sales tax, and severly reduced decutions on a business lease. A third party lease I was recently quoted is even less competitive ($83 a month more than you would pay out of state for a 36 month lease, or almost $3000!). I was all set to buy a TL, but with these numbers, it may no longer work. The higher numbers and/or loss of deduction brings several other competitors into range.
Then I thought. What if I leased out of state? Will this work, or (1) will they not lease to me out of state with a NY address, or (2) is there some clause in the Acura lease that terminates the lease if the car becomes registered in NY (or would I have to drive it with out of state plates and/or pay tax in both states?)
Thanks for any advice. -John
Due to the "wisdom" of our legislators in NY and the "wisdom" of Honda to pull out of the NY leasing market, thereby making Lexus and Infiniti (at least) that much more competitive than Acura, you can't lease directly from Acura in NY. This increases the effective interest rate and sales tax, and severly reduced decutions on a business lease. A third party lease I was recently quoted is even less competitive ($83 a month more than you would pay out of state for a 36 month lease, or almost $3000!). I was all set to buy a TL, but with these numbers, it may no longer work. The higher numbers and/or loss of deduction brings several other competitors into range.
Then I thought. What if I leased out of state? Will this work, or (1) will they not lease to me out of state with a NY address, or (2) is there some clause in the Acura lease that terminates the lease if the car becomes registered in NY (or would I have to drive it with out of state plates and/or pay tax in both states?)
Thanks for any advice. -John
Thread
Thread Starter
Forum
Replies
Last Post
08_UA7_Gr33k
Member Cars for Sale
13
02-11-2016 02:17 PM
lanechanger
Member Cars for Sale
4
10-13-2015 10:56 AM