Lease special from Honda
06-25-2005, 06:20 PM
#31
Registered User
Originally Posted by preludexl,Jun 25 2005, 02:27 PM
You can write off any car you use for "business" if you have a business license. My friend writes off his miata with a dummy corporation he set up. You just deduct the monthly car payment as a business expense, same as lunch, dinner, clubbing, etc. Afterall you have to entertain clients. It doesnt have to be a lease.
yes, it does have to be a lease. You cannot deduct car payments; you can, however, deduct any interest paid on a car loan.
06-26-2005, 12:44 AM
#32
Join Date: Jun 2005
Location: Driving Angeles Crest
Posts: 75
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by QUIKAG,Jun 24 2005, 12:18 PM
I did the lease special on my S2000. I plan to get every pennies worth out of this car when I turn it back in just as the factory warranty expires. 
Easy break-in my arse.
Easy break-in my arse.
06-30-2005, 08:22 PM
#33
Registered User
Join Date: Jan 2005
Location: SoCal
Posts: 58
Likes: 0
Received 0 Likes
on
0 Posts
[QUOTE=ol' dood,Jun 24 2005, 12:20 AM]A private lease is one of the WORST financial contracts that are!!!! Think about it You have to keep the mileage within the lease agreement, plus do the maintenance, plus turn the vehicle in to be in GREAT shape.
06-30-2005, 08:48 PM
#34
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Ah people! You act like the dealerships offer leases out of the kindness of their heart. If leases weren't more profitable than loans, they wouldn't be offering them!
You gotta at least be honest with yourself and understand you are paying extra to avoid the hassle of selling it when you are done. Or you are subjecting yourself to endless monthly payments by not driving a paid off car and not wanting to pay the higher pmts for a loan even though it will eventually end and you will still have a car.
You gotta at least be honest with yourself and understand you are paying extra to avoid the hassle of selling it when you are done. Or you are subjecting yourself to endless monthly payments by not driving a paid off car and not wanting to pay the higher pmts for a loan even though it will eventually end and you will still have a car.
06-30-2005, 10:02 PM
#35
Registered User
Join Date: Jan 2005
Location: SoCal
Posts: 58
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by jasonw,Jun 30 2005, 08:48 PM
Ah people! You act like the dealerships offer leases out of the kindness of their heart. If leases weren't more profitable than loans, they wouldn't be offering them!
You gotta at least be honest with yourself and understand you are paying extra to avoid the hassle of selling it when you are done. Or you are subjecting yourself to endless monthly payments by not driving a paid off car and not wanting to pay the higher pmts for a loan even though it will eventually end and you will still have a car.
You gotta at least be honest with yourself and understand you are paying extra to avoid the hassle of selling it when you are done. Or you are subjecting yourself to endless monthly payments by not driving a paid off car and not wanting to pay the higher pmts for a loan even though it will eventually end and you will still have a car.
Right, like if you really know what you are talking about...
07-01-2005, 04:33 AM
#36
Former Moderator
Originally Posted by jasonw,Jul 1 2005, 12:48 AM
Ah people! You act like the dealerships offer leases out of the kindness of their heart. If leases weren't more profitable than loans, they wouldn't be offering them!
and most OEM lending institutions have caps on what can be charged in any finance situation.
07-01-2005, 06:34 AM
#37
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by flatOVERcrest,Jun 30 2005, 11:02 PM
Right, like if you really know what you are talking about...
07-01-2005, 08:01 AM
#38
Originally Posted by jasonw,Jun 30 2005, 11:48 PM
Ah people! You act like the dealerships offer leases out of the kindness of their heart. If leases weren't more profitable than loans, they wouldn't be offering them!
You gotta at least be honest with yourself and understand you are paying extra to avoid the hassle of selling it when you are done. Or you are subjecting yourself to endless monthly payments by not driving a paid off car and not wanting to pay the higher pmts for a loan even though it will eventually end and you will still have a car.
You gotta at least be honest with yourself and understand you are paying extra to avoid the hassle of selling it when you are done. Or you are subjecting yourself to endless monthly payments by not driving a paid off car and not wanting to pay the higher pmts for a loan even though it will eventually end and you will still have a car.
07-01-2005, 08:08 AM
#39
Registered User
Join Date: Mar 2005
Location: █ SF, CA █
Posts: 16,702
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by erik,Jul 1 2005, 09:01 AM
Um, you do realize that the dealership is not offering the lease, but some financing arm is offering the lease. Honda Finance is offering the lease. And hey, they offer loans too. So you might be good at math, you just don't seem to know much about leasing.
07-01-2005, 08:27 AM
#40
Registered User
Join Date: Oct 2003
Location: Madison
Posts: 448
Likes: 0
Received 0 Likes
on
0 Posts
This conversation has not touched on 1) warranty coverage 2) resale trade in losses, 3) gap insurance, 4) seizure protection.
1) Do you really want to try to maintain an S2000 out of warranty, for 10-15 years as one person posted? That will cost a fortune. Trust me. I've owned antique cars, and those cars were less technologically sophisticated. The savings of eventually not having payments if you keep a car long enough evaporate with maintenance expenses in the long term.
2) Don't assume you'll be able to sell, much less trade, a car for blue book value. Particularly not within a short window of time. The option of turning back a leased car, particularly if the car has had trouble or been in an accident, will be invaluable.
3) Most cars are upside down for years. But better cars have gap insurance to make sure you don't get stuck with the bill.
4) Many jurisdictions try to seize vehicles (for drugs or "reckless driving"). They can't seize a leased vehicle. All you racers should think about that.
1) Do you really want to try to maintain an S2000 out of warranty, for 10-15 years as one person posted? That will cost a fortune. Trust me. I've owned antique cars, and those cars were less technologically sophisticated. The savings of eventually not having payments if you keep a car long enough evaporate with maintenance expenses in the long term.
2) Don't assume you'll be able to sell, much less trade, a car for blue book value. Particularly not within a short window of time. The option of turning back a leased car, particularly if the car has had trouble or been in an accident, will be invaluable.
3) Most cars are upside down for years. But better cars have gap insurance to make sure you don't get stuck with the bill.
4) Many jurisdictions try to seize vehicles (for drugs or "reckless driving"). They can't seize a leased vehicle. All you racers should think about that.