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Lease Payment Jumped Due to Move?

Discussion in 'Stocks, Investments & Finances' started by Squatting Pigeon, Jul 7, 2023.

  1. Jul 7, 2023 at 11:28 AM
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    Squatting Pigeon

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    Squatting Pigeon [OP] Squattingpigeon.com Staff Member

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    Hey all, posing this scenario for a friend of mine who’s not on the forum. Don’t worry, he drives a tundra so it’s cool :anonymous:

    He recently moved from Texas to Louisiana, and just got his first Toyota financial lease statement at the new address. This most recent statement has the payment amount being $50 higher for no discernible reason.

    He called TFS and the guy he talked with seemed a bit unsure, but told him it was due to different taxes based on his new address.

    1. How can taxes be at play on a lease, since he doesn’t own the vehicle? Is there a use tax or something?
    2. Is this all true or some load of BS he was given by the phone rep to just hurry him off the line?

    I’ll admit I haven’t done much research into this, but he has, and asked me to pose the question to the forum and see if anyone has had any experience with this.
     
    Squatting Pigeon, Jul 7, 2023
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  2. Jul 7, 2023 at 11:34 AM
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    ColoradoTJ

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    ColoradoTJ Certified tow LEO Staff Member

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    ColoradoTJ, Jul 7, 2023
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  3. Jul 7, 2023 at 11:45 AM
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    CoachRob

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    CoachRob New Member

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    Yes, you pay taxes on depreciation amount of vehicle. And taxes in LA (I live in LA too, unfortunately) are higher than TX so it is right.
     
    CoachRob, Jul 7, 2023
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  4. Jul 7, 2023 at 5:26 PM
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    tightywhitey

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    tightywhitey New Member

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    Where y’at?
     
    tightywhitey, Jul 7, 2023
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  5. Jul 7, 2023 at 5:45 PM
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    CoachRob

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    CoachRob New Member

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    CoachRob, Jul 7, 2023
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    tightywhitey likes this.
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