Currently 2 Responses
- A question that someone should ask Buchanan is this--before he meets with your children.
In Florida the tax code says that as a agent of the state, it is the responsibility of the dealer to collect taxes owned the state on auto purchases, and not the responsibility of the consumer to play the tax.
A consumer pays taxes on a lease in each monthly payment. When a lease is traded in on another vehicle where a retail contract takes the place of the lease, then taxes have never been collected on the lease trade in. So taxes must be first collected on that early lease trade-in. This is part of Florida tax codes.
The records supplied by former employees show that Vern Buchanan dealerships would and still do show the lease trade-in as a deduct in retail price. As if it was a retail unit where taxes had already been collected. The difference is then taxed.
What Buchanan dealerships are doing and have failed to do is not collecting millions in taxes owned the state and citizens of Florida on lease trade-ins.
Why do they do this.
According to former partners and employees is because it allows Buchanan dealerships to make more money on each retail sale that is financed by a lender were a lease trade-in takes place. . If the dealer collects the owed taxes then the lenders would required the price to be reduced in the form of additional down payments (which most consumers will not or can not do) or reduce the selling price (which most consumers would want the dealer to do).
Either way the dealer would either lose a sale or lose gross income on the sale.
Consumer/voters/citizens of Florida this is a form of tax fraud. This is money owed the sstate----in short you.
Why is he allowed to cheat and you can't. Is it becasuse you are leting him .
What is being discussed here is an average of 2200.00 in owed taxes on retail agreements where leases are traded in early. This adds up to millions owed the state of Florida.
Duane Overholt autofraudexpert.com Consumer Adovcate
- That's nice! Refreshing to see a politician doing something that's not just geared towards gaining votes.
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29 LWRBA May Membership Lunch
11:30 am - 1:00 pm
31 May YLA Breakfast "Legendary Leaders"
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