timcar

You're right. It's great! Thanks!

astibo

Is it that you just take the monthly payment as an expense rather than trying to depreciate the vehicle? What about the standard mileage rate? Personal vs business miles? High mileage that comes with business ownership?

I realize that these questions should be directed to a tax advisor...just looking for some direction. Just looking for a SWAG here. TIA.

mikef4.2

Is this not a beautiful country or what! I own half a leasing company, and lease the car to an unrelated company, (for which I am president). The lease has a three year payoff. If I want to keep it, I get the additional cash flow, after writing a new lease. Or, get a new car. The company gets a 100% lease expense, only if written up properly. Of course I drive for my work so that it is a legit expense...SO to answer your question, do both if you can!

oskidunker

The main reason I lease is because I am self employed and deducting the payment rather tham milage seems to be better. However, I had an Audi 5000 Quatrro for 10 years, loved the car and the body style but payed a ton to maintain it. About half what the lease payment is on my new A6.Reliability was always a concern on the 5000 plus I had old technology and no air bags. It is so expensive to fix these cars when something goes wrong that I really don't want the car after the warranty expires. I have 5 months to go and 500 miles left on the warranty on my 98. The 4 year upgraded warranty will help as my distyance to work is now half what it used to be. Plus my Dark Blue just doesn't look as good in bright sun as my old dark grey 5000. I even had it professionally waxed by a really good place and you can still see swirls. Problem is I still think the Ming Blue on the 2001's is the best color.

Frank@home

First, presuming that everyone that leases a car can't afford to "buy one" is ludicrous. As a matter of fact it's so ludicrous, I won't even expend my energy typing out why you are so misinformed about leasing.