[pianotech] Leasing a Business Vehicle

[David Love]

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. 

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