looking to lease

[Dom426h]

1BAD--I've never written the Viper off as an expense. I have written off several SUV's over 6k GVW since I own a sub-S corp. That's legal.

right, it has to to with the wieght, which is why Hummers are so popular.
here is how it works: It's not just a Hummer, it's a tax break

The only reasons i can think of for being able to write off a sportscar is:
- if you are using it in a movie.
- you are renting it
Anything else...

 

[1BADGTS]

right, it has to to with the wieght, which is why Hummers are so popular.
here is how it works: It's not just a Hummer, it's a tax break

The only reasons i can think of for being able to write off a sportscar is:
- if you are using it in a movie.
- you are renting it
Anything else...

True but what is the dollar cut off on Hummers ,Range Rovers ect.I believe they will only let you write a certain amount off on cars over 40 k .

 

[1BADGTS]

True but what is the dollar cut off on Hummers ,Range Rovers ect.I believe they will only let you write a certain amount off on cars over 40 k .

In other words on a 100 k Porshe SUV do they allow the first 40 k to be written off ten the buyer loses the write off on the rest ect .Does anyone know?

 

[YellowViperSRT10]

WHY because IF you can find someone to lease you a Viper the resid -money factors ect are going to be so far towards their favor (as RON said at the end of the term the leasing institution HAS TO MAKE SURE it will not get burned )that its not worth it .To me paying over 60 K in 3 years for a car you have to give back to a leasing company is crazy.Remember with a lease you in lock down for the entire term also are the taxes figured in that payment amount.

HELLO!!!!!! lol I do not mean now! I would not lease thew a bank, you only lease threw the manufacturer if you want good rates! I leased mine when I can, I will have paid much less then it would have cost to buy it, PLUS i dont need to take a hit since the resale value on the Vipers **** since new ones are being given away!

 

[1BADGTS]

HELLO!!!!!! lol I do not mean now! I would not lease thew a bank, you only lease threw the manufacturer if you want good rates! I leased mine when I can, I will have paid much less then it would have cost to buy it, PLUS i dont need to take a hit since the resale value on the Vipers **** since new ones are being given away!

Not entirely correct as sometimes BANKS BEAT Chrysler fiancial and vice versa. (In 96 i leased my Viper through First Union and they easily beat Chrysler )A dealer should be running ALL AVENUES.In TODAYS case with the money factors and resid being what they are on a Viper (from banks and Chrysler Financial )dont know anyone who is leasing today.

 

[1BADGTS]

Not entirely correct as sometimes BANKS BEAT Chrysler fiancial and vice versa. (In 96 i leased my Viper through First Union and they easily beat Chrysler )A dealer should be running ALL AVENUES.In TODAYS case with the money factors and resid being what they are on a Viper (from banks and Chrysler Financial )dont know anyone who is leasing today.

To put it in perspective my lease payment on my 96 with inception fees only down was 1000 per month (36 months )taxes included.Different world today.

 

[Flexx91]

True but what is the dollar cut off on Hummers ,Range Rovers ect.I believe they will only let you write a certain amount off on cars over 40 k .

The bottom line to all of the is the GVW (Gross Vehicle Weight) which has to be at least 6,000lbs is order to take a deduction - either a Section 179 in the first year or take the depreciation over several years. Unless you can prove that a Viper is used for business purposes (exotic rentals, advertising, etc.), you will always risk the strong possibility of IRS red flag or alter ego liability if this asset is owned by a corporation but you're reaping personal satisfaction from its use.

 

[Nine Ball]

The only reasons i can think of for being able to write off a sportscar is:
- if you are using it in a movie.
- you are renting it
Anything else...

Or, you own an automotive sportscar related business and consider the Viper as your marketing tool. Starting up an LLC is relatively cheap...

 

[Tiago]

Or, you own an automotive sportscar related business and consider the Viper as your marketing tool. Starting up an LLC is relatively cheap...

bingo...

 

[SBMIANO]

I leased my 2006 from amsterdam dodge for 986.00 mo with 7k down a 30 month lease it an 06 vert. I want an 09 or 2010 red vert
if buying is in the low 70's say 71k ill buy must be new

any one out there with this?

 

[FATHERFORD]

$1850 a month lease? Does that come with a 5 bedroom 4 bath 3 car garage attached to it?

LMAO!!