Posted by K Effective on September 09, 2017 at 04:47:43 from (162.235.236.141):
In Reply to: Leasing posted by 41106 on September 07, 2017 at 20:31:35:
One customer at my former job switched cars a lot, still had the desire for hot rods. He leased a BMW 760 for a couple of years- to purchase then was $80K. He was not able to write it off toward his business, but his reasoning was that in MI at the time, he only paid sales taxes on the portion of the value of the car he was leasing- I think he said $16K vs. $80K, so a difference of $960 vs. $4800. Additionally, he reasoned that at lease end, he turned it back to the BMW dealer for them to worry about finding a buyer. He didn't figure the market for used $80K vehicles was that strong, if you want to spend $60K plus, you want new, not two years old. He knew he would lose interest during the two years and want out anyway, which was okay to him. Same guy had Maserati, Vette, Mazda RX-7, Mercedes, Cadillac XCR, Mitsu 3000GT, 65' Chevelle, etc. And he let me drive most of them back and forth from his place to our shop. Cool guy.
Like someone else said, I called about a lease on a minivan when ours was wearing out. "That was sold long ago, but we have others here for twice that amount..." Not for me.
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