Re: [AFMUG] Vehicle Leases
We leased from eFleets, a division of Enterprise, and if my math was correct we saved over buying with cash or 0%. I know it seems odd but they buy over a million vehicles a year and get better breaks than you or I. I compared a single vehicle line for line from Enterprise and two loacl dealers and one out of Dallas. They were able to lease it to me for about the same cost as I could buy it and they covered all non insurable events like oil changes, tire replacements, brakes, and repairs. You may find different now but at the time it was a pretty good deal. On Wed, May 27, 2015 at 12:46 PM, Sean Heskett af...@zirkel.us wrote: Compared to 0% the tax advantage does matter much and the interest savings is greater than the tax advantage You can still depreciate the asset and lately we've been able to depreciate 100% of the vehicle in the first year when you purchase. Compared to writing off the lease expense (and if you calculate the actual interest rate of a lease it's WAY above 0%) When interest rates are higher then you could argue for a tax advantage of leasing but at 0% they are basically paying you money to finance it because of the time value of money. -Sean On Wednesday, May 27, 2015, Travis Johnson t...@ida.net wrote: Leasing vehicles has other tax benefits that you don't get with buying. Check with your accountant. Travis On 5/27/2015 11:28 AM, Sean Heskett wrote: Interest rates on cars are so low right now it's worth it just to buy. We just got 0% for 4 years on our new tundra. 2 cents -Sean On Wednesday, May 27, 2015, Josh Corson j...@bluebitnetworks.com wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
Re: [AFMUG] Vehicle Leases
Leasing vehicles has other tax benefits that you don't get with buying. Check with your accountant. Travis On 5/27/2015 11:28 AM, Sean Heskett wrote: Interest rates on cars are so low right now it's worth it just to buy. We just got 0% for 4 years on our new tundra. 2 cents -Sean On Wednesday, May 27, 2015, Josh Corson j...@bluebitnetworks.com mailto:j...@bluebitnetworks.com wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com http://bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
Re: [AFMUG] Vehicle Leases
Interest rates on cars are so low right now it's worth it just to buy. We just got 0% for 4 years on our new tundra. 2 cents -Sean On Wednesday, May 27, 2015, Josh Corson j...@bluebitnetworks.com wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
Re: [AFMUG] Vehicle Leases
Waste of damn time to lease the vehicle IME. I bought a brand new Tacoma, 5 years something like 0.9 or 1.9%. Not a big expense after dealing with an old rickety Ford for years. The Tacoma's really really hold their value. Josh Luthman Office: 937-552-2340 Direct: 937-552-2343 1100 Wayne St Suite 1337 Troy, OH 45373 On Wed, May 27, 2015 at 1:28 PM, Sean Heskett af...@zirkel.us wrote: Interest rates on cars are so low right now it's worth it just to buy. We just got 0% for 4 years on our new tundra. 2 cents -Sean On Wednesday, May 27, 2015, Josh Corson j...@bluebitnetworks.com wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
Re: [AFMUG] Vehicle Leases
My accountant told me to buy (this was August 2013) Josh Luthman Office: 937-552-2340 Direct: 937-552-2343 1100 Wayne St Suite 1337 Troy, OH 45373 On Wed, May 27, 2015 at 1:33 PM, Travis Johnson t...@ida.net wrote: Leasing vehicles has other tax benefits that you don't get with buying. Check with your accountant. Travis On 5/27/2015 11:28 AM, Sean Heskett wrote: Interest rates on cars are so low right now it's worth it just to buy. We just got 0% for 4 years on our new tundra. 2 cents -Sean On Wednesday, May 27, 2015, Josh Corson j...@bluebitnetworks.com wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
Re: [AFMUG] Vehicle Leases
Compared to 0% the tax advantage does matter much and the interest savings is greater than the tax advantage You can still depreciate the asset and lately we've been able to depreciate 100% of the vehicle in the first year when you purchase. Compared to writing off the lease expense (and if you calculate the actual interest rate of a lease it's WAY above 0%) When interest rates are higher then you could argue for a tax advantage of leasing but at 0% they are basically paying you money to finance it because of the time value of money. -Sean On Wednesday, May 27, 2015, Travis Johnson t...@ida.net wrote: Leasing vehicles has other tax benefits that you don't get with buying. Check with your accountant. Travis On 5/27/2015 11:28 AM, Sean Heskett wrote: Interest rates on cars are so low right now it's worth it just to buy. We just got 0% for 4 years on our new tundra. 2 cents -Sean On Wednesday, May 27, 2015, Josh Corson j...@bluebitnetworks.com javascript:_e(%7B%7D,'cvml','j...@bluebitnetworks.com'); wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
Re: [AFMUG] Vehicle Leases
Efleet was great to work with On May 27, 2015 11:45 AM, Josh Corson j...@bluebitnetworks.com wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
Re: [AFMUG] Vehicle Leases
Hi, Like I said, you would need to check with your accountant. If you are buying $500,000 worth of equipment per year, you can't depreciate a vehicle in a single year, because there are annual limits. In that case, leasing is a better deal because you can write off the total amount of the payments without using any of the annual depreciation limits. When you buy, you are paying sales tax on the entire purchase amount, compared to leasing you only pay sales tax on the monthly payment. Also, leasing is generally less expensive than buying. I just purchased a new Chevy 3500HD Duramax truck, and even at 0% interest rate, doing a lease was $150/month cheaper. I will keep the truck 2 years, so that saves me $3,600 in monthly payments. I could invest that money into a basic retirement account and earn 8% interest on that money over those 2 years, making the difference even more. :) Every case is different an unique. Use an accountant that knows all the angles and can help you the most. Cash flow is king. Travis On 5/27/2015 11:46 AM, Sean Heskett wrote: Compared to 0% the tax advantage does matter much and the interest savings is greater than the tax advantage You can still depreciate the asset and lately we've been able to depreciate 100% of the vehicle in the first year when you purchase. Compared to writing off the lease expense (and if you calculate the actual interest rate of a lease it's WAY above 0%) When interest rates are higher then you could argue for a tax advantage of leasing but at 0% they are basically paying you money to finance it because of the time value of money. -Sean On Wednesday, May 27, 2015, Travis Johnson t...@ida.net mailto:t...@ida.net wrote: Leasing vehicles has other tax benefits that you don't get with buying. Check with your accountant. Travis On 5/27/2015 11:28 AM, Sean Heskett wrote: Interest rates on cars are so low right now it's worth it just to buy. We just got 0% for 4 years on our new tundra. 2 cents -Sean On Wednesday, May 27, 2015, Josh Corson j...@bluebitnetworks.com javascript:_e(%7B%7D,'cvml','j...@bluebitnetworks.com'); wrote: What has been the experience with leasing commercial cargo vans? Any hidden gem companies out there that are awesome to work with? Pros and cons? Thanks! -- *Josh Corson* Operations Manager BlueBit Networks bluebitnetworks.com http://bluebitnetworks.com o. 573.355.5381 c. 573.259.3073
