shortbusspecv Posted April 6, 2006 Share Posted April 6, 2006 I am looking around.. trying to get an idea of payment. Everyone I talk to tells me to not put any money down because I cheat myself out of the tax benefit. Tell me what purchase price you negotiated, term, miles, options.. etc. If you know.. also mention the residual and money factor. Thanks in advance! Link to comment Share on other sites More sharing options...
shortbusspecv Posted April 10, 2006 Author Share Posted April 10, 2006 Bump for reply! Link to comment Share on other sites More sharing options...
edmundu Posted April 13, 2006 Share Posted April 13, 2006 I am looking around.. trying to get an idea of payment. Everyone I talk to tells me to not put any money down because I cheat myself out of the tax benefit.... It's not for the tax benefit. If the car is totalled 3 mths into the lease, or stolen, or otherwise a total loss, if you had put money down upfront, it is gone! Had you just kept it in an account instead and paid the difference of the monthly lease payments with it, you would only be out the few extra $$'s.. IT NEVER pays to put money down on a lease. The measley couple of $ in interest that you could save, is easily made up for in keeping the funds in an interest bearing account. Link to comment Share on other sites More sharing options...
shortbusspecv Posted April 13, 2006 Author Share Posted April 13, 2006 Well you have good points with this Edmundu.. However, I can write off a percentage of my payments.. so the higher the payment the more TAX benefit... I can't write off any of the down payment. Link to comment Share on other sites More sharing options...
edmundu Posted April 14, 2006 Share Posted April 14, 2006 Well you have good points with this Edmundu.. However, I can write off a percentage of my payments.. so the higher the payment the more TAX benefit... I can't write off any of the down payment. Didn't know you were doing this as a business. But, taxes paid are taxes paid, so you should be able to deduct from your capital cost, just may not be able to deduct the full amount paid in 1 yr, might need to be amortized over the length of the lease...just like depreciating assets, which the car would be one if leased through your business. Link to comment Share on other sites More sharing options...
Bigltfp Posted May 2, 2006 Share Posted May 2, 2006 Just worked it out lastr night, 06 gt limited....sign and walk, absolutly zero down, not even registration, tax, etc., $460 for 3 year 12k lease. In NJ Link to comment Share on other sites More sharing options...
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