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      03-22-2014, 08:36 AM   #1
FLOMACKS
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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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Quote:
Originally Posted by rainmkr View Post
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.
Well. I leased a car, and the full 6.75 was loaded into the cap cost. so, i've paid it once.

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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Quote:
Originally Posted by Mbdurham17 View Post
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
yeah, that's what i thought initially. When i went to do the deal, they said I had to pay TAVT on the whole value, so I backed out of the deal because that's terrible. So, they dropped the purchase price to cover the slack- all happened really fast -like 15 minutes of back and forth. In the end, I paid %6.5 on the full price -$7500 for a two year lease. I usually lease, then buy so I was ok with it because I thought i'd end up paying TAVT one way or another and they told me that I wouldn't need to pay TAVT when I bought the car since I paid it once.

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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