QuestionQUESTION: Hi Ray:
Hope you had a great new year!
I want to buy a BMW 328i. Can you tell me if I should lease or finance the car? The most important factor for me, so far, is tax deduction.
1. I am self-employed
2. My annual mileage on the car will be under 10,000 and big part of this will be for business use.
3. I maintain my car in excellent condition. Have a good credit and driving history.
Thank you very much for your assistance.
ANSWER: Hi Gaurav,
And a happy new year to you also,,, before we go any further I need to know if this transaction is to take place in North America or India ?
Ray http://www.usedcartips.org/
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QUESTION: San Diego, California
AnswerThanks, you confused me a little when you registered India as home base.
A few years back lease was a better way to go, today same tax write off can be done through finance, but then again there are loop holes in every state that differ, you really should be consulting with your accountant on the matter.
I am not a fan of any type lease for cars, there are to many conditions in the fine print along with a very high number get burned upon return condition of vehicle at end of lease.
So now that you know I think the better way is to finance, and maybe want to hang in there my expertise is buying that 328i getting fair value for your bucks.
I assume since you mentioned lease you are thinking brand new ?,,, if that"s the case let's start with where are you at at this point ?,,, totally green ? have got quotes ? done test drives ?
