03-22-2014, 08:36 AM | #1 |
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GA- TAVT / TITLE AD Valorem
does anyone know about the new TAVT rules as it relates to a lease buyout? meaning, if i lease a new car and pay the TAVT do I have to pay it again if i buy out my lease?
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03-25-2014, 04:09 AM | #2 |
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Leasing and TAVT
My understanding is the TAVT is spread in your fees and if you buy lease - you pay remainder...
http://www.cobbtax.org/TAVT "Leased vehicles pay the 6.75% TAVT rate but do not pay sales and use tax. If the lessee purchases the leased vehicle, TAVT will be due at the time of purchase." Hope that helps. |
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03-27-2014, 06:58 PM | #3 | |
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bad move on my part doing it without understanding all the details. super bad....
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03-27-2014, 07:04 PM | #4 |
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It's actually the same since they got rid of the "birthday tax" (used to live in atlanta) you would come out the same either way. The tax should have only been on the leased value not the sell price
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03-28-2014, 10:54 AM | #5 | |
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Now that I've called PFS (this is a lease on a new 911) to buy out the car, they're telling me a different story. First, they said that I didn't pay it. Then, after i referred them to the line on the agreement that says I paid it they've locked up and referred the issue to their legal department. This was all a bad move on my part for not knowing the details cold. I'm usually a "sophisticated buyer", but I made some rookie mistakes on this one-. I didn't pick apart the lease agreement like I always do, and when I did my own research on TAVT i couldn't figure out exactly how it was supposed to work. Where did you find the info on TAVT only calculated on the leased value? I couldn't find this online. Do you know this for sure? Thanks for the insight.
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