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Does TFS lease payoff include sales tax?

Discussion in 'Newbie Forum' started by LowGas, May 31, 2013.

  1. LowGas

    LowGas New Member

    Joined:
    May 31, 2013
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    Vehicle:
    2012 Prius
    Model:
    Three
    Wondering if anybody has definitive answer on this. I plan on calling Toyota Financial Services on Monday but was hoping to figure this out over the weekend.

    In the past when I've leased cars from other car companies (Honda, etc.) the price listed as the "payoff amount" has actually included the sales tax (the same way that sales tax is included in the lease payment). This has been good because if you trade-in a car (or sell it to a place like CarMax) they don't have to pay the sales tax, so the actual amount owed becomes less.

    For instance, if the payoff amount online was $21,400 and you lived in a state with 7% tax then the actual payoff would be only $20,000 without the tax. So if you went to CarMax and they offered you $20,000 for the car you could turn it in without any negative equity to cover.

    Does anybody know if the payoff amount listed on your Toyota Financial Services lease account includes the sales tax?