Quote:
Originally Posted by TimSJ
You can certianly write of a lease quite easily. the max is $750 per month plus tax if you were at 100% write off.
if you have a $500 lease payment at 50/50 you could write off $250 of it not $375 of the $500 payment
Yes negotiate the price of the car first. Generally they will try and always sell on the payment and leave the actual price of the vehicle out of it all together. Most people don't care about the price only if they can afford the payment.
Negotiate the price and then do the lease bit. one caveat is that the Lease price may be different depending on whether you lease, finance or buy. could be different incentives on each option.
Take an MB S-class right now.
we have
4.9% lease rate with a $3000 credit
2.9% buy rate with a $3000 credit
or if you are writing a cheque/have own financing we have a $10,000 credit
Depending on the company they may also have leasing on Pre-Owned as well. Demo's would certainly qualify.
If you have any other questions or need clarification just ask.
tim
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Very untrue - As a CA, I can say that the tax laws have changed on this, with the advent of things like standby fees and availability-for-use charges. Many companies are no longer leasing employee cars due to the negative tax impact, depending on your situation
The safest bet these days is to simply buy a vehicle for personal use and keep track of your KM - you can then bill the company a per KM charge for business travel, etc.
Either way you must track the KMs used, and if you lease the car under a business and have less than 50% usage (if memory serves, is it 70% now?), you'll be hit with the standby charge, which will be a taxable benefit to you
This is pie-in-the-sky advice and you should speak to a tax professional about the specifics of your situation