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Originally Posted by Sly
I believe you can also deduct some maintenance, gas, and insurance. It would depend how you have your corporation setup and how good your accountant is.
What's a lease on a $30k vehicle? Like $300-400 monthly? Ok, that's roughly $10k after 2 years. You buy the $30k vehicle and after 2 years its probably worth anywhere between $18-22k, right? So by both buying and leasing you're paying $5k a year just for "control" of the car.
If you're going to want a new car in 2 years anyway, why not lease? Who cares if you actually "own" the car? Will it make you sound cooler to your buddies?
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Yep, technically you can deduct everything, gas maintenance all that shit as long as it's all used for business.
I now lease a Tahoe for 36 months for one of my businesses. Sticker was $46K, not exactly sure what I paid but the monthly pmt is roughly $740. Had a another lease before that, I turned it in almost 1 year early and they waived the remaining years worth of pmts because when GM needs to move vehicles they come up with special programs like that to do so. Think it was called pay it forward or something.
When they offer special deals for leasing they also usually offer specials for buying.
Like when I bought my 50th Anniversary ZO6 Vette, 0% interest no money down for 5 years. Can't beat that. That's free money.