Well, I may live to regret it (as long as I live I guess that’s ok). We’ll see. I’m slightly ahead of the mileage allowance but now spending more and more time in the shop which is cutting my mileage down. When I was shopping I did find a significant variation and I don’t recall all the terminology now but they do factor in an “interest rate” which they don’t really tell you about. It can be negotiated as well and when I did this the dealers were already getting desperate for any activity so I was able to negotiate what seemed like a reasonable deal with increased mileage allowance not making that much difference in the monthly rate. My buy out amount, then, was pretty much the same as if I had purchased the car should I decide to go that route. When I ran the numbers it seemed like a wash in terms of out of pocket costs but gave me a better tax write off. I guess I’ll find out! David Love www.davidlovepianos.com From: pianotech-bounces at ptg.org [mailto:pianotech-bounces at ptg.org] On Behalf Of wimblees at aol.com Sent: Wednesday, May 27, 2009 12:46 PM To: pianotech at ptg.org Subject: Re: [pianotech] Leasing a Business Vehicle David I thought leasing would be great, too. A new car every three years, no more hassles about trade ins, regular maintenance, etc. Yes, leasing a car is negotiable. But the dealers are not stupid. If you negotiate for higher mileage, they will reduce the residual. If you add maintenance, over and above the normal warrantee, they will add that price to the monthly fee. The tax angle is the only thing that might be worth it, but when I discussed this with my accountant, he said will it become an advantage only if you make over $100,000, (that was 15 years ago). I leased 3 different vehicles of 9 years. The first car I went way over the mileage, and got soaked. I sold the second car to a private inidvidual, and used that money to pay off the residual, and had enough left over to put down on the next lease. I added for extra mileage, but it brought my payments way up. At the end of the third lease, I sold it to another dealer, and bought a car from them. But I didn't get much in trade, and wound up taking out a 5 year loan, instead of 3. 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: David Love <davidlovepianos at comcast.net> To: pianotech at ptg.org Sent: Tue, 26 May 2009 6:52 pm Subject: R e: [pianotech] Leasing a Business Vehicle 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=2 0is 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 <http://www.davidlovepianos.com/> www.davidlovepianos.com . _____ Wanna slim down for summer? Go to <http://www.aolhealth.com/diet/weight-loss-program/?ncid=emlcntusheal00000001> America Takes it Off to learn how. -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://ptg.org/pipermail/pianotech.php/attachments/20090528/98ae9b50/attachment.htm>
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