I am looking at a cpo vehicle that has the first ownership as "Personal lease" for 6000 miles and the 2nd ownership as "Lease" for another 30K miles. Leased vehicles in Texas are not subject to property taxes unless they are used primarily to generate income.Personal vehicle leasing involves establishing a formal agreement where your business leases your personal car from you. Tax is imposed on the leasing company's Texas purchase of a motor vehicle and is due at the time of titling and registration. Leasing requires that you calculate in advance how many miles you will drive each year. Ownership allows you to drive as much as you like, as far as you desire. When you choose to lease, you'll has a lower down payment and lower monthly payments. Leasing offers lower monthly payments and lower upfront cost. Ready to buy a new car? Discover the benefits of buying a car vs leasing a new car.