Property tax after lease-end

[troyjoo]

Hi,

Since there is confusion, I add a few notes.

Did anyone experience that Hyundai Motor Finance requesting property tax after lease-end?
Some states collect property taxes on vehicles yearly.

I have experienced very unpleasant situation with Hyundai Motors Finance and wonder if it is pattern of HMF.
My lease ended in 2019. Then HMF has continuously billed me for 2 years for property taxes for 2020 & 2021.
I was located to outside of US for 2019 ~ 2021. After I came back I found out past due statements of 2 years property taxes.
HMF could not even explain whether HMF reported delinquency for that or not.
I have to find out myself if this has impacted negative on my credit score.

During the 3 years 2016 ~ 2019
1. I have paid property taxes for all 3 years.
2. HMF paid the taxes to the county first, then I paid to HMF

But HMF sent a bill statement to me for 2020 & 2021 property taxes after lease ended at 2019.

I called HMF service center, then surprisingly I heard it's very common practice for HMF.
1. pay if the county requests the property tax
2. try to reimburse from the customer
3. until customer confront it, HMF will not settle with the county about property tax

It was sharking to hear all these.
1. HMF claimed to sell the vehicle right after lease-end
2. then HMF is not responsible for property tax from the first place
3. if lease-ended customer just pay the bill statements without checking property tax issue
4. HMF may wrongly charge it's customers



Please share if anyone shares the similar experience.

TJ

 

[Sal Collaziano]

Hi,

Did anyone experience that Hyundai Motor Finance requesting property tax after lease-end?
Some states collect property taxes on vehicles yearly.

I have experienced very unpleasant situation with Hyundai Motors Finance and wonder if it is pattern of HMF.
My lease ended in 2019. Then HMF has continuously billed me for 2 years for property taxes.
I was located to outside of US for 2019 ~ 2021. After I came back I found out past due statements of 2 years property taxes.
HMF could not even explain whether HMF reported delinquency for that or not.
I have to find out myself if this has impacted negative on my credit score.

I called HMF service center, then surprisingly I heard it's very common practice for HMF.
1. pay if the county send the property tax statement
2. try to reimburse from the customer
3. until customer confront it, HMF will not settle with the county about property tax

It was sharking to hear all these.
1. HMF claimed to sell the vehicle right after lease-end
2. then HMF is not responsible for property tax from the first place
3. if lease-ended customer just pay the bill statements without checking property tax issue
4. HMF may wrongly charge it's customers

Please share if anyone shares the similar experience.

TJ

Welcome. Moving your message into the correct forum.

 

[PMCErnie]

Your post above is pretty confusing.

In Virginia, at least, Hyundai pays the annual property taxes on customer leases directly to the state county. Of course you have to pay Hyundai that money. Very simply, if you did not pay Hyundai/Genesis for your property taxes you owe them the money.

 

[EdP]

In my state, I have to pay my property taxes myself, and it does not involve the manufacturer in any way. The car is your property, and you are responsible for paying taxes for this property

Is that on a buy or lease? Sure, if you buy the car taxes are on you. If you lease, the tax bill is sent to the owner of record, the leasing company, and they get payment from you.

Some people in CT are complaining as the taxed value is based on one of the published used car lists (Edmunds or KBB). Value has gone up, this tax has gone up even as your car got older.

 

[PMCErnie]

In my state, I have to pay my property taxes myself, and it does not involve the manufacturer in any way. The car is your property, and you are responsible for paying taxes for this property

Note that the thread title is talking about a LEASED vehicle. Hyundai/Genesis owns a leased vehicle, NOT the lessee.

 

[dalghariMike]

It sounds like HMF's policy is pretty fishy. It's not okay for them to just pass the bill on to you without settling with the county first. And it's concerning that they might be doing this to other customers too.
In general, it's always a good idea to double-check your bills and make sure everything is in order, especially after a big change like the end of a lease. It sounds like you'll need to sort this out with HMF and maybe even take a look at your credit report to see if there are any negative impacts. And if you need any proof of payment for the property taxes during the lease period, you might want to dig up those old paystub. Good luck!