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Leasing Car

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normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
Does anyone lease a car? Is it better for tax deductions leasing than buying? I see many real estate agents leasing their cars.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
Google these words: "car lease dave ramsey"
He explains it very well.
I like to know are there appraisers who have leased and satisfied with the lease experience. Not just the payments but opportunity to have a new car every few years or no maintenance worries. My car has two recalls. One been fixed. Another waiting for air bags to come into dealer. Hate wasting time in the shop.
 

Michael S

Senior Member
Joined
Mar 18, 2009
Professional Status
Certified General Appraiser
State
New Mexico
Buy a two year old car and sell it after two or three years. You will probably come out far ahead of leasing and still have what is basically a new car. When you lease you are not only paying that huge initial depreciation but the cost of financing as well. If you buy a slightly used car you avoid the large depreciation hit from driving off the lot and can presumably obtain much cheaper financing (or preferably pay in cash).

I just bought a 16 year old pickup truck to replace my totaled 17 year old car. I'm not trying to impress anyone when I drive up to their property (or drive anywhere for that matter). Point A to Point B in reasonable comfort and safety. Everything else is superfluous.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
Isn't leasing you can write it off? When you buy, it takes forever to depreciate in taxes. I'm still depreciating my 16 year old car. Can't believe it.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
  1. Should I Lease My Next Car? | Bankrate.com
    www.bankrate.com/finance/auto/should-i-lease-my-next-car-1.a...
    There are pros and cons to either leasing or buying, but financial experts say buying and keeping a new car for the long term is usually the better deal. No matter ...
  1. Why You Should (Almost) Never Lease A Car - Money...
    www.moneyunder30.com/why-you-should-never-lease-a-car
    Aug 20, 2014 ... Here are the many reasons you should never lease a car. ... “Buying a car is almost always better than leasing a car,” Baumeister stresses.
    1. Compare Leasing & Buying a New or Used Car |...
      www.dmv.org/buy-sell/new-cars/leasing-vs-buying.php
      Choosing whether to lease or buy a car can be tough. The right decision ... The better your credit the more responsible you appear on paper. Banks can raise the ...

    2. Lease vs Buy Explained - by LeaseGuide.com
      www.leaseguide.com/lease03/
      Apr 23, 2016 ... Is it better to lease a car or buy a car? The answer may be surprising. Read the full details here then decide whether leasing or buying is right ...

    3. Lease or buy a car from Better Money Habits
      www.bettermoneyhabits.com/car-buying/preparing-to-bu...
      See the difference between leasing and buying a car with this Better Money Habits video. One may be better for your finances.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Isn't leasing you can write it off? When you buy, it takes forever to depreciate in taxes. I'm still depreciating my 16 year old car. Can't believe it.

Do you actually understand economics to the level that you can be an appraiser or do you practice appraisal as if you are a first time home buyer with near zero knowledge that challenges the pre -printed verbiage of "well informed" buyer etc? I wonder sometimes with your posts?:shrug:
 
D

Deleted member 134708

Guest
You would be over miles in a heartbeat and then essentially renting the car for 20 cents a mile.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
  1. Should I Lease My Next Car? | Bankrate.com
    www.bankrate.com/finance/auto/should-i-lease-my-next-car-1.a...
    There are pros and cons to either leasing or buying, but financial experts say buying and keeping a new car for the long term is usually the better deal. No matter ...
  1. Why You Should (Almost) Never Lease A Car - Money...
    www.moneyunder30.com/why-you-should-never-lease-a-car
    Aug 20, 2014 ... Here are the many reasons you should never lease a car. ... “Buying a car is almost always better than leasing a car,” Baumeister stresses.
    1. Compare Leasing & Buying a New or Used Car |...
      www.dmv.org/buy-sell/new-cars/leasing-vs-buying.php
      Choosing whether to lease or buy a car can be tough. The right decision ... The better your credit the more responsible you appear on paper. Banks can raise the ...

    2. Lease vs Buy Explained - by LeaseGuide.com
      www.leaseguide.com/lease03/
      Apr 23, 2016 ... Is it better to lease a car or buy a car? The answer may be surprising. Read the full details here then decide whether leasing or buying is right ...

    3. Lease or buy a car from Better Money Habits
      www.bettermoneyhabits.com/car-buying/preparing-to-bu...
      See the difference between leasing and buying a car with this Better Money Habits video. One may be better for your finances.
Thanks for the videos. However their analysis does not consider the tax implications. Using the car for business, we can deduct and somehow, I'm not an accountant, but I think leasing may be better if we consider the tax savings. Any one out there who lease and done their taxes and can confirm this?
 
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