good excuse to get to that meeting fast!!!

 

Wow...Great car for your business...So after the 3 years is up and paying over $40K to lease this car, are you gonna keep it??? I'm not a big lease fan..It's just renting a car for a couple years and at the end you have nothing to show for it..Congrats on the car though..

 

I don't own an ISF but leasing this car for $1,090/mo @ 36 mos. seems high. Even if you don't like the notion of purchasing I would have opted to finance it over 60 mos (5 years). Your payments would STILL probably be right around $1,090/mo (+/- $30) and you will OWN it. $1090 X 60mos = $65,400 + the $1450 for the 1st payment that you layed out (and other fees) brings you to a total just shy of $67,000; which should be enough for an F.

However, if you are the type of person who needs to have a different car ever 3 years then (after you financed the car) you could have just sold the car at the end of 3 years...took that money and paid off the remaining 2 years balance. At least with financing you have that option. Eventhough, you still have the option to buy at the end of the lease but it is ALWAYS at the dealers advantage by going this route; i.e. you pay even more.

Regardless, congrats on the car...I'm sure it's beautiful!

 

Congrats on your new toy mate! Which dealership did you get it from? Please post some pics when you have a chance

 

Ooops...I forgot that you could write it off; the lease was the way to go then.

 

I am an independent contractor with a telecommunications company (1099 person income) so I can write off the payment of the lease. I will post pics next week when I get back home. Thanks for all the comments!!

 

I will not be keeping the car after 3 years.....I will be getting the next fastest lexus

 

Good buy, financing 56k at 6% to purchase, your note would be 1107.95. However, you cannot claim any of it under your business. If you have annual income at or above 100k and are self employed, I would recommend leasing b/c of the tax benefits. Smart move b/c you have a nice ride and you can write off 13,080.00 for the next 3yrs plus maint. This is not like renting a home, renters can write off payments. Also, if you decide you do not like the car, you can sell it yourself at or more than the balance.

 

Nice...by that time the gs-f should be available...