[pianotech] Leasing a Business Vehicle

[wimblees at aol.com]

I used to lease. Not such a good option. If you do go that route, they will limit your mileage to about 12000 miles per year. I drive almost twice that many miles just here on Oahu. Then they will charge you A LOT for going over the mileage. The options at the end of the lease are: 1. Turn in the car and pay for the extra mileage. (not a good option if you've driven almost twice the number of miles allowed). ?2. Buy the car for the residual value.(also not a good idea, because you're buying a used car with lots of miles at a preset value, which is higher than a used car on?the lot. 3. Sell the car to someone else, and give the dealer what they want for the car.?(This is a good option, but then you have to go out and get another car). A possible 4th option is to trade your car in to another dealer. They might be able to give you in trade what you would owe on the car,?or they might add what you still owe to the leasing company to the price of your new car. 

My advice is to buy a car, and depreciate it over 5 years. ?


Willem (Wim) Blees, RPT
Piano Tuner/Technician
Mililani, Oahu, HI
808-349-2943
Author of: 
The Business of Piano Tuning
available from Potter Press
www.pianotuning.com


-----Original Message-----
From: William Monroe <bill at a440piano.net>
To: pianotech at ptg.org
Sent: Tue, 26 May 2009 2:31 pm
Subject: [pianotech] Leasing a Business Vehicle


Hi Folks,

HELP!!!


My trusty (ha!) business car? just had it's way with me.? Considering alternatives.? Anyone out there who's leased a vehicle, rather than purchased?? Pros - Cons?? I really could use some insight here.? Ultimately my goal is to find something that's long-term cost effective.? My mileage is probably in the normal range as I spend at least two days a week in the shop.

Thanks for any input.

William R. Monroe

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