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Originally Posted by Young Scholar 
I already have a paid off vehicle thats worth more than 6-8k, so that's out. I would be selling it now for around $15,500, rather than it depreciating over time. To preserve my capital I'd be investing that $15,000 averaging around 5-8% percent return on the conservative side. My lease total for three years comes out to $14,400. I get to write off $11,520 for business use. I would be paying $2,800 out of pocket for the three year lease.
At the end of three years the $15,500 will be compounded to $18,989 at 7% annually. An investment income of $3,489. The $3,489 easily covers the $2,800 I would be paying out of pocket. Leaving me with about $16,000 plus personal savings at the end of the lease. |
Remember, you need substantiation to prove your business use. You would have to show that you actually do use a 3 series BMW for business and that it does cost you that much money ...thats means you have to actually drive it and drive it a lot if you expect to get paid for it. Leases have mileage limits, no? I mean you very well may be able to pull of your plan but I don't think it is as easy as you make it sound.