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What he's really talking about... (archive)

[ Follow Ups ] [ E46 M3 Message Board ] [ Msg. Board FAQ ]

Posted by Lincoln on August 01, 2000 at 14:33:50:

In Reply to: What terrible lease laws in Texas? posted by Mark on July 31, 2000 at 13:52:09:

The lease laws aren't really any different then in other states. The problem with leasing in Texas is the state property tax imposed on leased vehicles (typically equals one extra lease payment per year, or more). So to avoid the property tax dealers encourage people to get these "smart buys" (ballon notes with a turn in option). Works like a lease, but no property tax. But this is NOT a lease.

FYI to those that are coming off Owner Financing on their current E36 M3. You can't extend your contract. You can on regular financing and a lease but not on the owner financing (balloon payment) option. Those in Texas with terrible lease tax laws will need to take note cause you most likely used this financing instead of leasing. I tried to extend my E36 M3 payments for 6 months and they said no can do eventhough my E46 will be delivered in early 2001.

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