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Want to lease then Buyout in NC

Discussion in 'How to Buy a Kia Stinger' started by Ruturaj, Jul 17, 2018.

  1. Ruturaj

    Ruturaj United States Stinger Enthusiast

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    Raleigh, NC
    I am currently living in NY and moving to NC next month. As per some reading, NY charges tax upfront on lease payments and if I opt out I have to pay that as KMF as paid that already for me plus I would need to pay tax on the buyout amount. How's the situation with NC?
     
  2. TurboDiesel

    TurboDiesel United States New Member

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    I'm looking for more info on NC if anyone has it as well.
     
  3. Ruturaj

    Ruturaj United States Stinger Enthusiast

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    Location:
    Raleigh, NC
    One thing I found out is no one is offering Ballon financing in NC.
     
  4. Ruturaj

    Ruturaj United States Stinger Enthusiast

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    Location:
    Raleigh, NC
    Update: From city data, I found out the 3% HUT tax (highway use tax, similar to sales tax) is charged monthly on the lease on just lease payment. And on the buyout, 3% on buyout amount. Haven't been able to find out about property taxes though.
     
  5. Ruturaj

    Ruturaj United States Stinger Enthusiast

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    Location:
    Raleigh, NC
    Update 2: As mentioned in previous post, indeed 3% HUT is getting charged monthly for the lease. I will soon have to pay 1% property tax this year.

    I will update on what amount I would have to pay HUT and if any, property tax. (For NC, they won't be charged by KMF/HCA with buyout amount).
     
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