Will I have trouble getting a lease? - Page 2

velobard · 03-03-08, 12:28

Post your question in the Auto Finance forum at CreditBoards (Powered by Invision Power Board)

They have a dealership finance guy there who can give you a fairly decent prediction. Read up some before posting your question to be sure you provide all the necessary info.

JohnZ3MC · 03-03-08, 02:00

You've narrowed your choice of vehicles to a good group.
I had a buddy in a similar situation - he was older than you though. Changed careers from a successful investment broker to a supplier of specialty foods. A natural salesman.
He traded in his Dodge Caravan, plenty of room and 5 doors and leased an Audi TT. As careful as he was loading his product, he hardly marred his leather at all, and the extra mileage incurred during delivery and personal use didn't worry him a bit.
I'd vote for the Audi TT and deliver in style.
-John C.

Young Scholar · 03-03-08, 07:25

Thanks guys. I actually work in the financial industry as well John

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Harbison215 · 03-06-08, 08:55

Quote:

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.