Depends on the car you are going to purchase or lease and the deal you negotiate (it is negotiable) the number of miles you drive (the allowable miles is also negotiable), the amount of money you want to put down, etc. I am currently leasing and it seems to be ok. The tax write off is greater, I keep the car for three years and don't have to pay for any repairs (all warranty) though I do have to pay for maintenance (I just sunk $3000 into my other car), trade it in for another car in three years. But it's best to check with an accountant as there are many factors that come into play. Leasing can be your best option, or not. David Love www.davidlovepianos.com From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf Of Ken & Pat Gerler Sent: Tuesday, May 26, 2009 9:15 PM To: pianotech at ptg.org Subject: Re: [pianotech] Leasing a Business Vehicle Ditto, I have never leased - always purchased. Ken Gerler ----- Original Message ----- From: wimblees at aol.com To: pianotech at ptg.org Sent: Tuesday, May 26, 2009 9:15 PM Subject: Re: [pianotech] Leasing a Business Vehicle 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 _____ Wanna slim down for summer? Go to America <http://www.aolhealth.com/diet/weight-loss-program/?ncid=emlcntusheal0000000 1> Takes it Off to learn how. -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://ptg.org/pipermail/pianotech.php/attachments/20090526/970a1960/attachment-0001.htm>
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