How much do you pay for a lease?
09-08-2006, 02:51 PM
#1
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How much do you pay for a lease?
Picking up my car next week(Avus/Black). Got some offers (AFS sucks) and was wondering what others are paying. I'm going for 36 months, 20K/year. After much reflection I decided to not use any cap reduction as it does not make sense financially(Why put money down on a "rental"? will just put the value of my trade in a saving or investment account).
So far US bank(through leasecomapre.com)has the best numbers.
It's still a LOT of money, hope it's worth it!!
How much are you paying?
So far US bank(through leasecomapre.com)has the best numbers.
It's still a LOT of money, hope it's worth it!!
How much are you paying?
09-08-2006, 03:35 PM
#5
AudiWorld Super User
If you haven't already, click on my sig for more info.
My deal
Purchase Price: $72,520
Cap Cost: $74,627
Residual (70%): $51,464
MF: 0.00322
Term: 24 Months
mileage 12K/year
Sales Tax: 7.375%
Payment: $1,472.24 (bent over)
Purchase Price: $72,520
Cap Cost: $74,627
Residual (70%): $51,464
MF: 0.00322
Term: 24 Months
mileage 12K/year
Sales Tax: 7.375%
Payment: $1,472.24 (bent over)
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09-08-2006, 07:17 PM
#8
AudiWorld Super User
It depends on your business use percentage...
Most people find their business use at 70% or less. Your savings = payment x business % x marginal tax bracket.
Assuming a $1365 payment, 66.6% business use, and a marginal tax bracket of 33% you save about $300/month in income tax. You might do a little better or worse, but most are somewhere in this neighborhood.
Assuming a $1365 payment, 66.6% business use, and a marginal tax bracket of 33% you save about $300/month in income tax. You might do a little better or worse, but most are somewhere in this neighborhood.
09-09-2006, 06:12 AM
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talk to your CPA, but it's not really a deduction per se.
if your business is a corporation that requires use of a vehicle specifically to conduct business (for example, travel between various work sites, etc.), the corporation pays the expenses associated with the business used of this vehicle. Much like a company would pay for computers, office supplies, etc. Obviously the advantage to doing this is that the vehicle expenses are paid for with gross revenue (pre-tax), as opposed to personal income (post-tax). As sparkhill noted, there is a percentage rule that applies, so you really should discuss this with your CPA.
