Help with Lease - car arriving in 10 days

[Mr.Smith]

thanks for the master class

very good info.
I just asked them to send me the same scenario but 36mo

current scenario is 10k/39mo we are at 10k check 2059$/mo

will see if I can negotiate it any further with the info you sent me and will see what their numbers come back at with 36mo.
Actually is 7.5k check as I gave 2.5k to order my car.

PM me all the details of you want so I can look over.
They need to spell out all the numbers like the MF, doc fees etc.
From what you said, it looks kosher

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[gt3dude]

You should purchase a taycan, its over 6,000 gvwr and can utilize a 100% bonus write off.

With current lease prices its an absolute no brainer.

 

[diegomedinaf]

PM me all the details of you want so I can look over.
They need to spell out all the numbers like the MF, doc fees etc.
From what you said, it looks kosher

Numbers on 36 mo came back at
2173/mo
36 mo lease
10k and drive.

 

[Cooper63]

Numbers on 36 mo came back at
2173/mo
36 mo lease
10k and drive.

I don't know what is your MSRP, but $2,173 a month?! That's over $78,000 for 36 months. Plus your down at $10,000. So you paying $88,000 after 3 years. I would choose purchase over lease.

 

[diegomedinaf]

I don't know what is your MSRP, but $2,173 a month?! That's over $78,000 for 36 months. Plus your down at $10,000. So you paying $88,000 after 3 years. I would choose purchase over lease.

the way I look at it as a bizz owner is this.
That is a 88k tax reduction over 3 yrs by leasing it as the car is a bizz expense.

 

[tomtom901]

But you can write off the purchase as well, right?

 

[rjdoc74]

You should purchase a taycan, its over 6,000 gvwr and can utilize a 100% bonus write off.

With current lease prices its an absolute no brainer.

This is the key. A lot of us have businesses and lease IS NOT the only way or the best way to "write off" the car. My Taycan CT4 arrives in a few weeks ))

 

[diegomedinaf]

This is the key. A lot of us have businesses and lease IS NOT the only way or the best way to "write off" the car. My Taycan CT4 arrives in a few weeks ))

Do you have to buy in full? Or a regular finance will work as well?

 

[rjdoc74]

Do you have to buy in full? Or a regular finance will work as well?

I have always paid in full, but I am pretty sure you can finance and still do section 179 deduction. Please double check with you accountant before moving forward.

 

[diegomedinaf]

I have always paid in full, but I am pretty sure you can finance and still do section 179 deduction. Please double check with you accountant before moving forward.

I wont pay in full. The write off is based on paid in full.
This is why lease is my way to go.

 

[rjdoc74]

I wont pay in full. The write off is based on paid in full.
This is why lease is my way to go.

The more you know...

Yes! As long as the vehicle is a qualifying vehicle (meaning it exceeds 6,000 lbs. in Gross Vehicle Weight). Financing or leasing a vehicle does not affect section 179. See our Section 179 and Financing page for more details.

https://www.section179.org/section_179_faqs/#:~:text=Yes!,does not affect section 179.

 

[PetroK]

Also small correction about MRM, unless things changed drastically. That extra amount can be included in lease, it is just not residualized, so you are paying interest on full amount.

 

[whitex]

Also small correction about MRM, unless things changed drastically. That extra amount can be included in lease, it is just not residualized, so you are paying interest on full amount.

In other words, any options over MRM have a 100% depreciation over the lease period.

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