How Does Georgia’s New Tax Law Affect Leases?
Jimmy Britt Has All The Answers You Need & More!
Learn About Georgia’s New Lease Tax near Athens, GA
Are you thinking about leasing a new car? If so, come to Jimmy Britt Chevrolet Buick GMC and capitalize on Georgia’s reformed lease laws! Now’s the perfect time to lease a new Chevy, Buick or GMC because you can save big on your taxes. Hurry in to our Buick, GMC and Chevy dealership near Athens, GA, to learn how much you can save today!
What is the new 2018 Georgia Lease Tax?
When you lease a new car from us, you’ll only be asked to pay taxes on the sum of your lease payments, not the total value of your car. You can pay this tax up front or throughout the course of your lease. This one-time tax, known as TAVT, will cover the sales tax on down payments, the sales tax on monthly lease payments and the annual ad valorem property tax that drivers were forced to pay under the old law.* And as a result, the amount due at signing will be thousands of dollars less when you lease a Chevy at our Georgia Chevrolet dealership.
What is TAVT?
TAVT, or Title Ad Valorem Tax, applies to all new car sales and leases, as well as used car sales, and it can be either paid up front or at a rate of 7% throughout the terms of your lease. But, this rate won’t increase in 2018, and the TAVT will now be calculated based on the sum of your lease payments instead of the total value of your car.
When does House Bill 340 go into effect?
Georgia’s new lease tax has already gone into effect! This means you can lease a new Buick, GMC or Chevrolet without having to deal with unfair tax regulations. No matter if you want to lease a new GMC Sierra truck, Chevrolet Cruze sedan or Buick Encore SUV, you can save thousands when you take advantage of this government incentive today!
Hurry in to Jimmy Britt Chevrolet Buick GMC and see which model is right for you. We’re happy to discuss your lease options with you in person at our Georgia dealership!
*Annual fee tags and inspections are still required.
Should I Buy or Lease a Chevy near Athens, GA?
There are plenty of benefits to leasing vs. buying a Chevrolet, Buick or GMC near Athens, GA! Apart from the new Georgia lease laws, you can enjoy lower monthly payments and spend less money upfront. You can also upgrade to a newer Chevy, GMC or Buick model every three years and enjoy the latest in modern tech. Best of all, you’ll be exempt from your car losing its value and not have to go through the hassle of the car-selling process! All you need to do is return your Chevy Equinox or GMC Sierra at the end of your lease and upgrade to a new Buick, so you can explore Georgia roads in style.
View the pros and cons of buying vs. leasing a car below and come lease a new Chevy Silverado or GMC Acadia at our Georgia Buick dealer!
|Ownership||Pay to own the car and the title of the car is in your name||Pay for the use of a new vehicle and move on once the lease ends|
|Down Payment||Typically comes with a higher down payment||Smaller down payment, which means less money upfront|
|Monthly Payments||Higher monthly payments||Lower monthly payments|
|Mileage Limits||No mileage restrictions||Lease terms will dictate mileage limits|
|Maintenance/Wear||Responsible for all upkeep of your vehicle not covered by warranty||Required to service the vehicle according to the dealer’s recommendations|