Leasing the GT3
09-30-2014, 11:04 PM
#31
Nordschleife Master
ugh... just because you finance for 72 months, doenst mean you have to keep for 72 months 
I think my credit union is about at 1.9 on 72 months. That's nuts free money and I plan to do that. Even though I only plan to keep the car until the RS is available...
I think my credit union is about at 1.9 on 72 months. That's nuts free money and I plan to do that. Even though I only plan to keep the car until the RS is available...
09-30-2014, 11:36 PM
#32
Burning Brakes
The key to buying an expensive car like a GT3 is being able to pay cash for it. Once that is established then lease, finance or pay cash depending on what is best financially for you.
09-30-2014, 11:44 PM
#33
Nordschleife Master
yes, this is an absolute given... but I can make 5% on my money market/savings account all day long... certainly rates will eventually go back up, but right now, money is essentially free...
10-01-2014, 12:52 AM
#35
Race Director
Uhm?... I have made 5% in a day at times, I'm up around 90% over past two years. If you haven't been killing it over past 6 years you've been asleep. I'm a relatively inept trader and I could have made more if I paid attention. 5% annual?.. You're trying to lose and you can't do that badly. Edit: I apologize.. I just read "money market and savings".. I assumed everyone has been in equities.
10-01-2014, 02:02 AM
#36
Burning Brakes
Well, he is saying he is making 5% on cash equivalents in insured and liquid accounts. Rates above 1% on these instruments is almost unheard of, so I want to know about 5% on safe money reserves.
10-01-2014, 08:32 AM
#37
Me too. To make 90 percent you would have to be totally out of the market when it crashed and been very lucky on the upside. Almost no one did that.
10-01-2014, 08:59 AM
#38
Race Director
Market crashed in 2008.. It's been 6 years. I don't want to make this an investment pissing contest, but happy to post my Etrade portfolio chart. It's nothing impressive actually.. All anyone had to do was follow tsla or any other of the many many rising star stocks in past few years and they would have done much better. Rich have gotten massively richer over past 6 years... I'm just a working schmuck riding some coat tails.
10-01-2014, 10:44 AM
#39
Drifting
Thread Starter
It never fails to end in a pissing contest. No matter what car it seems like a pecking order needs to be established.
Anyway, I can't speak regarding leasing cars privately, but the managing partners have a budget on leasing company cars. It is held in the company's name, payed by the company and goes straight into 'the operating cost' column. What I did before was run the leased car through the company and then do the buyout privately. I'm far from being a financial expert (I'm a coder), but having the company absorb the largest depreciation hit, and buy a used car basically from myself who drove it off the lot with 2 miles on the clock makes a lot of sense to me.
Anyway, I can't speak regarding leasing cars privately, but the managing partners have a budget on leasing company cars. It is held in the company's name, payed by the company and goes straight into 'the operating cost' column. What I did before was run the leased car through the company and then do the buyout privately. I'm far from being a financial expert (I'm a coder), but having the company absorb the largest depreciation hit, and buy a used car basically from myself who drove it off the lot with 2 miles on the clock makes a lot of sense to me.
10-01-2014, 11:59 AM
#40
Yep it makes sense for you.
10-01-2014, 12:34 PM
#41
Burning Brakes
Hate to rain on the parade, but these large deductions off the corporate return are supposed to be for the legitimate business use of the vehicle. The percentage of business use of the GT3 is simply multiplied by the lease payment and the resulting 85% for example is a business write off. You thereby escape the major depreciation limits on purchased luxury vehicles.
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm
10-01-2014, 12:48 PM
#42
Burning Brakes
Hate to rain on the parade, but these large deductions off the corporate return are supposed to be for the legitimate business use of the vehicle. The percentage of business use of the GT3 is simply multiplied by the lease payment and the resulting 85% for example is a business write off. You thereby escape the major depreciation limits on purchased luxury vehicles.
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm
10-01-2014, 01:19 PM
#43
Three Wheelin'
Hate to rain on the parade, but these large deductions off the corporate return are supposed to be for the legitimate business use of the vehicle. The percentage of business use of the GT3 is simply multiplied by the lease payment and the resulting 85% for example is a business write off. You thereby escape the major depreciation limits on purchased luxury vehicles.
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm
Dan (optimistically hopes to write off approximately 60-70% per year)
10-02-2014, 11:57 AM
#45
Drifting
Thread Starter
Hate to rain on the parade, but these large deductions off the corporate return are supposed to be for the legitimate business use of the vehicle. The percentage of business use of the GT3 is simply multiplied by the lease payment and the resulting 85% for example is a business write off. You thereby escape the major depreciation limits on purchased luxury vehicles.
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm
However, the question remains how much of your use of a GT3 is for business purposes? I am guessing it is very small if it exists at all. And remember, commuting mileage does not count. That said, the percentage business use claimed is said to very rarely be audited. hmm