Tag: Car Leasing in New Jersey (NJ)

As of my last update in September 2021, car leasing and financing options in New Jersey (NJ) are widely available through various dealerships, banks, credit unions, and financial institutions. However, it’s essential to note that the specific offerings, interest rates, and terms may vary depending on the lender and your credit history.

In New Jersey leases often do not require any type of a down payment. All you usually have to pay is the first month’s payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.

Regarding sales tax in New Jersey, a motor vehicle lease is subject to Sales Tax unless a valid exemption applies. The person who leases the motor vehicle from the dealership (the lessee) is responsible for paying Sales Tax on the transaction. The dealership (the lessor) is responsible for collecting