GM Volt Forum banner

1 - 5 of 5 Posts

·
Registered
Joined
·
227 Posts
Discussion Starter · #1 ·

·
Registered
Joined
·
1,359 Posts

·
Registered
Joined
·
985 Posts
It is why leasing a Volt in Texas is not ideal.
We are taxed on full purchase price, and the lease company gets the $7500 tax credit.
Leasee gets the shaft.
 

·
Registered
Joined
·
227 Posts
Discussion Starter · #4 ·
I have always purchased my cars before but the leasing sales tax in IL dissuaded me from the nationwide leasing deals available when I was shopping for my 2013 Volt.
This law change may make a lease more tempting again for folks in the area who do want to get a brand new Volt but cannot fully avail of the federal tax credit via a purchase.
 

·
Banned
Joined
·
7,289 Posts
Maryland definitely taxes on the full sale price on a lease as well. Only positive is you don't have to pay sales tax again if you purchase at end of lease. But for EVs, purchasing at end of lease is usually a losing proposition.
 
1 - 5 of 5 Posts
Top