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Should I wait?

Discussion in 'Model S' started by mikedc813, Mar 20, 2016.

  1. mikedc813

    mikedc813 Member

    Mar 20, 2016
    I live in Maryland where there is a $3,000 excise tax credit, although I will be moving to Florida in July where there is no state incentives.

    I am considering leasing a Model S.

    On the surface at least, it would make sense to do pull the trigger on a lease while still in Maryland to take advantage of the state incentive but would moving out of state in 4 months affect this credit in any way? I would have to pay for registering the car in Maryland and then in Florida, but I should still come out on top because the state tax credit is higher than the amount to register in both states I would think.

  2. sorka

    sorka Well-Known Member

    Feb 28, 2015
    Merced, CA
    I would wait until at least the end of the month so you can see how the MS lineup offerings change.
  3. DCGOO

    DCGOO Member

    Nov 24, 2015
    Indianapolis, IN
    That is a question for the State. Generally, the leasing company gets to take any tax credits. After all, they bought and own the car. I know that is true for the Federal tax, you would need to ask about the state credit.

  4. whitex

    whitex Active Member

    Sep 30, 2015
    Seattle area, WA
    Remember that with a lease taxes are calculated on top of each monthly payment based on where you live that month. If you move from a state with lower (or no) sales tax to a state with higher sales tax, your monthly payment goes up. If the new state has lower taxes the payment goes down. With a loan all taxes are paid up front and then financed, so your monthly payment should stay the same. As far as incentives, when leasing they usually go to the leasing company, so they can reduce your cap cost by the amount. Whether or not the car has to stay registered in originating state for any period of time in order to keep the incentive depends on the state - you'll need to check that.
  5. Beryl

    Beryl Member

    Feb 19, 2015
    South of Houston
    I'd order now and change your order without penalty if the 3/31 announcements and price increases next week work for you.
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