SToronto

More inline? I doubt that. Unless internal requirements are what everybody else is doing. They play the same games on GT3/RS allocations as anybody else, possibly even worse. With that in mind, I doubt their other practices are any better.

Gary_M

I'm in contact with one now. I'll be sure to relate my experience here.

Cheers!

Gary

Onami

You could also use a HELOC and treat the purchase the same as a lease. I'm thinking about getting a new 991 and did the math recently. Low option 991 @ $130K with tax etc. Most 6 year old 991's bring at least $75K...so, at 4% interest that is equivalent to $1,110 per month all in...

911 Rod

My understanding is that lease or buy it would be the same. That's why I just buy. Maybe you can get the HST back with a lease because it's paid monthly?
There has to be at least one accountant here that knows. lol

red996

Hard to believe an accountant would enjoy any depreciating asset.

SToronto

If a business asset you can depreciate the cost of the asset (vehicle) according to an appropriate tax deduction schedule. Maybe the 911 is a delivery vehicle. Needs to deliver more than smiles.

Gary_M

Now you've got me thinking: Say I start driving for Uber. In a 911 Turbo... heh

SToronto

Would that be an Uber Black?

I've honestly been tempted to turn on the app and take some rides, see what that looks like from a Uber driver perspective. Then again I'd also like to drive a tractor trailer! The latter probably more lucrative depending on what you do.

moab

you need at least 4 doors for your car to be eligible for uber.

BIG smoke

I sent my brother in to a Toronto BMW store for a VIP night. He drank the coolaid and ordered a new M3. It came into the dealership 5ish months later. He went in to take a peak before he paid the difference. Only problem, it had full nav, full leather, sports suspension. It had 14000 dollars of unordered equipment. The dealership asked for the extra 14k on his custom and contracted car. If he did not pay, he could reorder and wait another 4 ish months. As I refered my brother into the dealership I felt slightly miffed myself. I called BMW HO, to discuss this issue. I was told the store was a franchise and I would have to deal with the store? Then, why do we have a Head Office?
If you have a predelivery issue at a dealership, and head office defers back to the franchise. What do you need a head office for? Or even a dealership. If no one wants to take responsibility for anything? Why not just order a car online.

SToronto

That sucks, how did they think that would pass? Wonder what the cause was. Hopefully it got sorted out in your brother's favour.

I'm speaking from actual words from a sales rep at North Toronto in addition to what I've heard in the community and comments made by a sales manager at another major Porsche dealership who lost a customer to North Toronto.

I personally had issues with an Audi dealer a couple years back on reneging on a commitment. I tried head office, they didn't want anything to do with it and kept referring me back to the dealer. I didn't pursue because we literally just had a baby and that was a bigger priority than trying to work the issue through. I think it's all intentionally set up to defer to dealers to a certain extent to limit liability on the mothership. You of course read about stories in the news where dealer issues get resolved by head office when the media gets involved.

I remember back in early 2000s, my local BMW dealer said they couldn't find my winter tires, they had stored them. Days went by without a result or explanation. I followed up with BMW Canada and the next day they delivered my tires to my office.

eyedoc

I'm not an accountant. CRA's favourite write-off to challenge is for auto expense. A car you store in winter is a tough sell as a business asset-it's a personal asset usually. A personal asset on a business is a taxable annual benefit in lieu of salary to offset the deduction you're claiming; except post 1988, or so, the taxable benefit (principle+ interest payments on luxury cars) exceeded the depreciation loss. Always open to interpretation by the CRA. Good luck with that. Use Onami's suggestion in the purchase. HELOC will involve lower interest rate generally than lease. Be happy writing off only gas, oil, regular maintenance, and leave the auto ownership off the business as an asset asset. If on the business and car increases in value (as some may), the increased value is a capital gain and taxable-no? I may stand corrected when an accountant chimes in; this is my understanding from random audits when I was in Practice (self employed status).