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The crazy part is Lexus is bringing out an all-new sedan while canceling the legendary LS. Lexus has now put its focus on the ES, which shows how far they have fallen from the original aspirations for the Lexus brand.
The LC500 is the last great Lexus that they have left for another year or two…..
179 is only for purchases but it still presents a better tax savings than leasing. My accountant has told me over and over again that purchasing and taking thwe 179 deduction would be better, and like I said everybody I know who is in a similar tax position started driving SUVs for that reason.
For 2025 the limit is $31,300....but originally you could write off a $100k SUV in the first year. That got people into SUVs who otherwise wouldn't have tried one. And that $31,300 deduction is the bonus depreciation, you still depreciate the vehicle over 5 years and write off all the interest and expenses.
I’m not an accountant but the savings seem to be limited over leasing with significant negatives:
- if you sell the vehicle before the 5 yrs then the accumulated depreciation has to be added back
- if you sell the vehicle, you have to show the proceeds of sale as income
- this only makes sense if you’re buying multiple vehicles every few years on ongoing basis and are just trading them in all the time i guess?
To me it’s not worth the hassle compared to just writing off the monthly lease payment unless you’re getting a Gwagon or RR or Lambo SUV and planning to keep them for 5 years.
The crazy part is Lexus is bringing out an all-new sedan while canceling the legendary LS. Lexus has now put its focus on the ES, which shows how far they have fallen from the original aspirations for the Lexus brand.
The LC500 is the last great Lexus that they have left for another year or two…..
I would imagine they will hold their value quite well.
I’m not an accountant but the savings seem to be limited over leasing with significant negatives:
- if you sell the vehicle before the 5 yrs then the accumulated depreciation has to be added back
- if you sell the vehicle, you have to show the proceeds of sale as income
- this only makes sense if you’re buying multiple vehicles every few years on ongoing basis and are just trading them in all the time i guess?
To me it’s not worth the hassle compared to just writing off the monthly lease payment unless you’re getting a Gwagon or RR or Lambo SUV and planning to keep them for 5 years.
I don’t disagree about the hassle, but if the savings weren’t better my accountant wouldn’t want me to do it. Even if I traded at 3 years he still says I would be better off. Obviously I still haven’t done it, and even if I were to get a Range Rover or something I would probably still lease it out of convenience.
because we're on a forum about a company/brand whose glory days are behind it lol... i at least tried to tie this in with some other great discontinued cars
three discontinued cars each at the height of their game
and why not throw in some volvo action
If I may get nostalgic for a minute is the car on the right in the first pic a Maxima? It looks familiar. I had one back in the day and this one looks like it.
If I may get nostalgic for a minute is the car on the right in the first pic a Maxima? It looks familiar. I had one back in the day and this one looks like it.
yea early 2000s (maybe late 90s?) maxima, i always hear people say good things about those and actually still see them around from time to time... it and the GS were already parked there so i quickly backed in to get the pic and went on my way right after lol
The 4th gen Maxima was the best, not the 5th. This one:
0-60 in 6.6 seconds and 142MPH.... in 1995. KILLER Bose stereo. Interior was just about as nice as a Lexus inside, they really put a lot of money into that Maxima.
That was simulated leather, but those were some damn nice doors.
The 5th gen was decent but nothing spectacular. It was cheapened in a bunch of ways. I had 2 I35s and they weren't as good of cars just in general as that 1997 Maxima was.
is the car on the right in the first pic a Maxima? It looks familiar. I had one back in the day and this one looks like it.
