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      11-14-2007, 05:37 AM   #1
m5interlagosblue
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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.
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      11-17-2007, 08:46 PM   #2
Buschy
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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
AndrewAZ
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Quote:
Originally Posted by buschy View Post
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.
You are very uneducated about leases.... Yes in some cases its true people lease a car they can not afford otherwise.. But there are several reasons to lease a car just about 90% of doctors and lawyers lease at the dealer I go to and I will explain why.. To make it short they want new cars often and dont put a lot of milage on them along with the tax write of benefits.

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
Zirenz2006
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Quote:
Originally Posted by AndrewAZ View Post
You are very uneducated about leases.... Yes in some cases its true people lease a car they can not afford otherwise.. But there are several reasons to lease a car just about 90% of doctors and lawyers lease at the dealer I go to and I will explain why.. To make it short they want new cars often and dont put a lot of milage on them along with the tax write of benefits.

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.
I couldn't have responded better to that ridiculous statement about leases.
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      12-03-2007, 06:51 PM   #5
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Quote:
Originally Posted by buschy View Post
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.
Wow. No comment.
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      12-04-2007, 11:44 AM   #6
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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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Quote:
Originally Posted by AndrewAZ View Post
You are very uneducated about leases.... Yes in some cases its true people lease a car they can not afford otherwise.. But there are several reasons to lease a car just about 90% of doctors and lawyers lease at the dealer I go to and I will explain why.. To make it short they want new cars often and dont put a lot of milage on them along with the tax write of benefits.

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.


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

Quote:
Originally Posted by m5interlagosblue View Post
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.
I just PM'd you some information.
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      12-18-2007, 04:17 PM   #9
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lease write off

Please PM me also and explain how that works with taxes. Right now I'm just taking std mileage allowance. CHeap
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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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Quote:
Originally Posted by rc'Z View Post
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.
you can put your leased vehicle under your business name as fleet vehicles.
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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Quote:
Originally Posted by Bimmbo View Post
you can put your leased vehicle under your business name as fleet vehicles.
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.
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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