frayed

I do not believe u need to lease to get the bus deduction. Purchase cash finance or lease all treated the same now

-eztrader-

I owned a scud, traded it in for a 458. 7k miles on scud, and 4 k miles on 458. Sold both.

During this time I had a 2010 gt3 - which I kept and racked up over 35k miles.

There's something about the manual porsche that keeps you coming back. I would advise spend some quality time in a .2 gt3 or .2 RS before buying scud or new gt3.

kyrocks

Drove them all. Have a 458 and an RS. Scud is a great car too. The jerkiness of the shifts in the scud is kinda cool.

eilig

Interesting... What were all the reasons you didn't drive the F-cars more? It must be more than just the manual... Is it all the attention the F-cars get? I know that can be annoying.

kyrocks

Yes, F cars get a lot of attention. However, when I occasionally drive my RS on the street it gets just as much or more attention where I live.
The GT3 feels like a more robust car that can handle tons of abuse. I've only had my 458 for 2 months and it feels more "special" and delicate. I know it's in my head because these latest Ferraris are meant to be driven and reliability is as good as the Porsches now. The Ferrari is automotive art and adds a tad more exclusivity. Not sure how else to describe it. It's been a boyhood dream to own a Ferrari and a Porsche. I am lucky to have both.

Drifting

Really?

Do you just deduct how much the car has depreciated if you buy one that you use as your daily driver?

Tacet-Conundrum

The Big Question is will the FCar Nuts in the Next 20-30*40 years being lusting over these Ferraris like they do the old Daytonas and all the older rarer cars Enzo Ferrari Built with the the odd ball numbers to race like the 512MM whatever or the list of Ferrari's only Wayne Carini can sound off in his mind!

est8esq

I am not trying to be disrespectful, but I'm not sure I'd agree with this latest statement.

If you purchase the car, irrespective of financing or not, their is a vast difference in IRS permitted depreciation one can take for a personal vehicle and can say with absolute certainty a Ferrari is well outside limits you can easily depreciate.

If you lease, you're permitted your percentage of business use (minus a small luxury car surcharge called a lease inclusion) of the entire lease payment.

Both use of cars share the same expense rules for maintenance, fuel etc, but the nature the car payment is huge.

frayed

I'm sure you are right. I was going off a brief sidebar conversation with a prior accountant I used. The moral of the conversation is to look at both options with your numbers guy.

So, let's say b/c the car in question is expensive and depreciation limits are hit. Consequently the right decision is to lease. Is it a viable option to lease with an absurdly high mileage annual allotment to cause excessive depreciation that results in a low buyout at the end of the lease?

This is another thing I've heard that can be done to have your business purchase a large portion of you car.

eilig

[QUOTE=frayed;11064626]Is it a viable option to lease with an absurdly high mileage annual allotment to cause excessive depreciation that results in a low buyout at the end of the lease?QUOTE]

This is EXACTLY what my CPA advised me to do...

gt2urbo

im in the same boat as the original poster. i will not be tracking either since i have a cup but man i love the scud look and sound. pretty timeless. 991 gt3 looks timeless to since its 911 derived. i say scud

right now i have a v10 r8 plus and love it

zirrah

Yeah it's part of the rawness. Love it.

-eztrader-

Hard to say exactly. When I first took delivery of each f car, I was blown away and thought it was the best ever. After time it wears off. Then slowly I started to realize the cars are only fun when you're really pushing them hard. Legal speed drives turned out to be really boring.

The 458 for example - I couldn't get to maintain speed on the highway, it was always accelerating or decelerating. And jerky.

Driven hard they are exciting and fun, but that's where it stops.

eilig

That makes sense. I have rented almost every variety of Ferrari which in Germany over the years, and would agree. I love renting/driving over there, because most of my driving time is spent on the autobahn, where you can really USE these cars. But once I'm off the autobahn, it's really pointless having a car that can perform at their level. It's actually one of the things that has held me back from getting one in the US.... now if we had autobahns here, it would be a completely different story!

RD16RR

Buy the Ferrari with your heart, the Porsche with your brain