Lawrenzo
Enthusiast
Just got a quote for a new GTS- blue with stripes. A 4 year lease pmt with a $3,000 cap reduction of $1,155+ tax. Is this a reasonably good payment? They are offering the car at $3500 over invoice.
Is $1150/mo fair pmt. on new GTS?
- Thread starter Lawrenzo
- Start date
PhilC
Enthusiast
If you can scrape together a down stroke you'd be better off with an outright purchase. There's no way you're going to want to let it go four years from now.
Good luck.
Phil C
Good luck.
Phil C
Brad04Mamba
Viper Owner
The payment seems reasonable with the other variables you state in your post, BUT, I think $3500 over invoice is higher than you should have to pay, at least when I bought my 2000 around this time last year I only paid $1600 over. Also, if you check the archives, Dan Cragin from Santa Monica Dodge was offering vipers for close to invoice.
OP
OP
Lawrenzo
Enthusiast
PhilC
I'm actually looking more at the tax benefits at this point. My accountant states that with a purchase I'll be limited to only $4000 year in depreciation. Whereas I'll be able to write off virtually all of the lease payments. So as he put it "It makes more sense to buy financially, but more sense to lease taxwise"
I'm actually looking more at the tax benefits at this point. My accountant states that with a purchase I'll be limited to only $4000 year in depreciation. Whereas I'll be able to write off virtually all of the lease payments. So as he put it "It makes more sense to buy financially, but more sense to lease taxwise"
BLS
Enthusiast
Assuming you are self employed... why not buy the car and then lease it back to your company?
You might say that you use the car 80% for business and 20% for personal use. Go to the office supply store and purchase a lease agreement and have it notorized to make it official. Then use one of the many shareware lease calculation programs available on the internet and figure out what a 36 or 48 month lease would be with nothing down and using the current money factor.
Have your company write you a check for 80% of that amount every month and then you in turn write a check to the the finance company for the monthly payment.
This way your compnay is paying the payment for you with pre-tax dollars... and you own it.
BLS
2001 Saphire Blue GTS w/ Stripes
2001 BMW X5 4.4i Sport
PS - I also think $3500.00 over invoice is too much. If I were you... I would give Bill Pemberton at Woodhouse Dodge (1-800-889-1893) a call. He can have one delivered to your door for less than that!
<FONT COLOR="#ff0000" SIZE="1" FACE="Verdana, Arial">This message has been edited by BLS on April 30, 2001 at 12:59</font>
You might say that you use the car 80% for business and 20% for personal use. Go to the office supply store and purchase a lease agreement and have it notorized to make it official. Then use one of the many shareware lease calculation programs available on the internet and figure out what a 36 or 48 month lease would be with nothing down and using the current money factor.
Have your company write you a check for 80% of that amount every month and then you in turn write a check to the the finance company for the monthly payment.
This way your compnay is paying the payment for you with pre-tax dollars... and you own it.
BLS
2001 Saphire Blue GTS w/ Stripes
2001 BMW X5 4.4i Sport
PS - I also think $3500.00 over invoice is too much. If I were you... I would give Bill Pemberton at Woodhouse Dodge (1-800-889-1893) a call. He can have one delivered to your door for less than that!
<FONT COLOR="#ff0000" SIZE="1" FACE="Verdana, Arial">This message has been edited by BLS on April 30, 2001 at 12:59</font>
