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Urgent leasing question

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Old Jun 13, 2011 | 12:48 PM
  #46  
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lexmenow
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From: georgia
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Originally Posted by <VENOM>
Most of my remarks were my own personal opinions, and what I have seen of lease returns, leasing is an option and I leased several cars, I just feel I wasted money when I could have been saving and investing, currently I can't pay my cars off fast enough, my last car was leased and of the 500 dollar payment less then 100 bucks went towards the car, everything else was some percentage of a bank fee, ridiculous when you actually realize what is going on
Agreed! I have never leased and don't plan on ever doing it even if I make 250K a year. Its easier to pay off and just sell it. How much tax write off can you get from a lease? Are you getting a return comparable to what you spent that year on the lease?
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Old Jun 13, 2011 | 01:38 PM
  #47  
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rominl
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From: Lovely OC
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Originally Posted by lexmenow
Agreed! I have never leased and don't plan on ever doing it even if I make 250K a year. Its easier to pay off and just sell it. How much tax write off can you get from a lease? Are you getting a return comparable to what you spent that year on the lease?
err.... yeah... very well could be. and you didn't read the part where in some state you only pay portion of sales tax that you own the car on?
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Old Jun 13, 2011 | 04:55 PM
  #48  
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<VENOM>
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Originally Posted by rominl
err.... yeah... very well could be. and you didn't read the part where in some state you only pay portion of sales tax that you own the car on?
Yeah NY is one of them, but your still allowed to use the tax you paid on your financed car as a write off, I did and got back almost all of it
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