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      12-20-2021, 08:12 PM   #111
jlspeed29
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Originally Posted by RickFLM4 View Post
Of course you have to pay sales tax unless CA is one of that one states that collects it upfront (and doesn’t require paying it again). The buyout amount on the BMWFS website will show the actual buyout amount including sales tax.
just called BMWFS and downloaded my payoff slip, sales tax is not included
The rep on the phone said they dont collect sales tax but I would be responsible for it at time of the title transfer at the DMV.


Any benefits to financing through BMWFS vs a credit union? aside from the obvious, a more favorable rate?
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      12-20-2021, 08:54 PM   #112
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Quote:
Originally Posted by jlspeed29 View Post
just called BMWFS and downloaded my payoff slip, sales tax is not included
The rep on the phone said they dont collect sales tax but I would be responsible for it at time of the title transfer at the DMV.


Any benefits to financing through BMWFS vs a credit union? aside from the obvious, a more favorable rate?
Must vary by state as I definitely paid sales tax to BMWFS.

As far as financing, only benefit (aside from maybe rate) of using BMWFS may be ease of transaction. Not sure. Can’t finance directly through BMWFS without a dealer in FL so I sent them a check and paying my savings back instead. Maybe using credit union is just as easy.
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      12-22-2021, 12:00 PM   #113
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I got a lease buy out loan from pen fed you do have to pay the tax on what's left on the lease but I was able to sell the car 2 months later for 4k profit , if you buy the car and then trade it you can use that as your tax break on a new car (purchase)
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