11-14-2007, 05:37 AM | #1 |
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X5 4.8 Lease payment
Hi guys,
I am interested in getting a new 4.8 X5. But i was thinking leasing this car. The dealer was trying to rip me off. It would be great if any member could share how much down payment you made and how much a month for lease. Also how many miles a year. THank you. |
11-17-2007, 08:46 PM | #2 |
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way to vague a question to be answered in my opinion.
why do you think they were ripping you off. A lease is always a rip off. and never never never put money down on a lease. the only thing a lease is for is for someone to drive a car that they cannot afford.
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11-25-2007, 07:34 PM | #3 | |
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It really makes more sense to lease a BMW or Mercedes or high end car, the residual values they put on the cars are very high. Now if you drive more then 15k miles a year and keep your cars from longer than 4 years leasing doesn't make sense. In a way I could turn around your statement and make you feel bad that its stupid to buy a BMW if you plan on owning it less than 4 years. So in short you know nothing about leasing........ Good day. |
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11-30-2007, 11:11 AM | #4 | |
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12-03-2007, 06:51 PM | #5 |
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Wow. No comment.
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12-04-2007, 11:44 AM | #6 |
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Drives: 22 G05, 22 G26
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Location: Atlanta, GA
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I recently went to my dealer about a trade in for a new one. Problem is there are no good lease deals, or there were no good lease deals at the time, (Sep/Oct). For the 3.0, it was $4k down, and 700 a month.
Ask about a purchase with a balloon on the end. This worked for us on our current X5. This way we have the flexiblity of getting out of the car when we want, we maintained lease like payments, with minimal money down. In Aug, we will have to buy, refi, or trade. We will owe $17,500. Just an option. |
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12-06-2007, 07:09 AM | #7 | |
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Can you explain to me more about the tax write off? PM me! |
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12-17-2007, 09:19 AM | #8 | |
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X5 Lease
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01-04-2008, 07:18 AM | #10 |
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To 'write off your lease car' you have to use the car for business, and only business. A doctor or lawyer driving back and forth to work is no different than a cook or machine operator driving back and forth to work, it is not detuctable. If you are using the car for business purposes you can only detuct that part of the car that is used for business. Example you drive the car 20k a year, church on Sunday, grocery store, vacations, none of that milage is detuctable. If you are in sales and you drive it to customer calls, detuctable. Milage in split use cases is detuctable, if you want to deduct gas, tires, lease, maintenance, you can only detuct that portion that is business related. Oh yes, keep very good records, IRS auditable good records. There is no free ride lease deduction.
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01-14-2008, 07:54 PM | #11 | |
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A cook can not, and if he tries IRS will be there. Common man, it obviously depends on what kind of business you run. If you run a bookstore and try to do this IRS will be there.
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01-15-2008, 01:41 AM | #12 |
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Unless it's a car used to run your books to the shop . Then there's the whole 6,000+ pound SUV tax benefit. One of the many reasons why Range Rovers and Cayennes are so popular.
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