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| Legacy Archived Main Board Business chat and general industry chat. All participation is welcome. Dont post your fucking spam here. |
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07-09-2003
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#1 |
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Members
Join Date: Jun 2003
Posts: 1,216
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Buy or lease a car? I am thinking of getting a new s55(If I win the powerball lottery). Probobly keep it 3 years, put maybe 20k total miles on it. Lease or Buy?
Last edited by BradShaw at Jul 9 2003, 12:28 PM
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07-09-2003
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#2 |
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Members
Join Date: Mar 2003
Posts: 336
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I just talked to my acct about this not too long ago. There are benefits to both. I think it came down to how long you were planning on keeping the car - If you are only going to keep 3 yrs then lease.
- you can write off both payments whether you lease or buy - I was thinking of actually taking out an equity line on my house when I go to purchase my next car. The rate is at prime + principle is fully tax deductable + all the same write offs. |
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07-09-2003
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#3 |
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Brad with the way you turn over cars, leasing is a good thing for you. Just make sure its a tight lease.
I have never sold a car in my life. I did lease a suburban for 3 years, but then bought a new one....
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07-09-2003
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#4 |
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Members
Join Date: Jun 2003
Posts: 1,216
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What about the large tax credit for over 6,000lb's, anyone taking advantage of that?
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please report me to the IRS and get reward |
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07-09-2003
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#5 | |
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Members
Join Date: Oct 2002
Posts: 236
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Quote:
 SUVs baby!!! --T
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07-09-2003
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#6 | |
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Members
Join Date: Jun 2003
Posts: 1,216
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Quote:
Only downside is for the tax credit, car has to be in company name, and thus insurance is much higher. Right? Also looking to unload a 59 Porsche if anyone is interested. Last edited by BradShaw at Jul 9 2003, 02:13 PM
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please report me to the IRS and get reward |
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07-09-2003
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#7 | |
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Members
Join Date: Oct 2002
Posts: 1,156
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Quote:
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Quickbuck is paying $100 Per trial join. |
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07-09-2003
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#8 | |
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Members
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Join Date: Oct 2002
Location: Hills of N. GA
Posts: 10,823
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Quote:
I'm little and just a subchapter S corp and with the 0% interest rates, it was better for me to buy than lease since I can write off my car use even if the car's in my name. The 6000 GW vehicles are a pretty large list going as small as an Expedition. But if you're Dad's buying it for you, isn't all this talk of leasing and doing it through your company useless? 
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07-09-2003
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#9 | |
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Quote:
You might be able to set up a sole propritorship or something....  It's not actually mine, I just clean it for a guy...  HEHE First time Katie said she has seen me do manual labor.... All the rest of the photos, WITH music http://hirise.biz/escalade/ 
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Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month! |
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07-09-2003
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#10 |
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Members
Join Date: Oct 2002
Posts: 435
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Those HAVE to be the only spinners in the neighborhood....hahaha
I bet those rims cost more than both of my cars... I officially change your name to Bling AI..
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07-09-2003
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#11 |
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Members
Join Date: Nov 2002
Location: Last seen trolling the Detroit River
Posts: 494
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Bling AI? Come on your the one with DIAMOND in their name.
If Mikey were big pimpin's those would be 26's with half the body cowling cut away to sqeeze them in. How those 26's running on your Bronco there DJ, ya big pimp |
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07-09-2003
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#12 | |
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Members
Join Date: Oct 2002
Posts: 435
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Quote:
__________________
Do you have money sitting in the bank making nothing? I will give you 15% annual returns GUARANTEED by contract. Your money is returned within 90-120 days. 100k minimum investment - All slots currently filled - check back later |
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07-09-2003
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#13 |
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Administrator
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24s ride pretty rough as it is....
But it gets a lot of looks... Still have a few more things I want to do with it. DJ - Didn't you know GM is offering 0% down and 0% finaning? And my other secret? Rent-a-Rim!
__________________
Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month! |
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07-09-2003
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#14 |
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Members
Join Date: Jun 2003
Posts: 1,216
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Rent-a-rim may be something to look into, homies (&mike) like to spend bling on wheels.
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please report me to the IRS and get reward |
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07-09-2003
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#15 |
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Fat Fucking Nobody
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Join Date: Oct 2002
Posts: 6,523
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The general rule of thumb for finance is if it appreciates you buy it, if it depreciates you rent it.
But where cars are concerned there's alot more to consider. Leasing is a good idea if you meet a few conditions: 1) You dont like to keep a car more than a couple or three years. 2) You take good care of your car. 3) You can keep the mileage under 10K or so a year. 4) Your like fairly upscale rides that will retain their value. Where most people get burned is on mileage or "excessive wear and tear" if they rag their cars out. Leasing also doesn't work on a vehicle that doesn't hold it's value as the residual value will be shit. MB, Lexus, BMW, etc all lease very well as they retain their value and are easy to resell. I'm a big fan of leasing as I have multiple vehicles and can keep the mileage under control, take good care of the cars and like to change them out on a regular basis. You get a lot more car for the dollar by leasing, but the downside is it is never an asset. You're renting. But since cars (other than collectibles!) depreciate in value, this isn't a bad thing. If you make them a company car, leasing is the only way to go without really making the taxes complicated. To do that though, you'll want to make sure you still have at least one car in your name and not the company's, so that you can call it your personal vehicle. Otherwise the IRS likes to crawl up your ass and dispute your business mileage. |
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07-09-2003
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#16 | |
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Members
Join Date: Dec 2002
Posts: 284
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07-09-2003
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#17 | |
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Fat Fucking Nobody
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Join Date: Oct 2002
Posts: 6,523
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Quote:
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07-09-2003
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#18 |
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Administrator
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HAHAHA funny Greg!! haha
HellPuppy I snapped some others but she would not let me post them... I think they were hot, but I do value my balls....
__________________
Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month! |
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07-09-2003
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#19 |
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Hospitality Supervisor
Join Date: Oct 2002
Posts: 2,338
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I always buy, leasing is inconvenient and more expensive. I think it's better to get the payment over with and not have to bother with it every month.
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07-10-2003
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#20 |
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Members
Join Date: Jan 2003
Posts: 165
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My first year in LA I rented cars. I travel a lot so it's in my nature to make friends with high end rental company owners. I had a different top of the line Lexus, Mercedes or BMW every month for under $1200 per. If you factor in the insurance and the down it's actually a better deal. I should have kept doing it like that instead of leasing my cars. <_<
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07-10-2003
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#21 | |
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Administrator
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Join Date: Oct 2002
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Quote:
__________________
Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month! |
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07-10-2003
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#22 |
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Members
Join Date: Oct 2002
Posts: 435
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I rode in a top of the line Mercedes one time....
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Do you have money sitting in the bank making nothing? I will give you 15% annual returns GUARANTEED by contract. Your money is returned within 90-120 days. 100k minimum investment - All slots currently filled - check back later |
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07-10-2003
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#23 |
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Administrator
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Jim I have one you can ride in, but I will have to charge you $12 a mile....
__________________
Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month! |
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07-10-2003
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#24 |
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Fat Fucking Nobody
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Join Date: Oct 2002
Posts: 6,523
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There was a company a couple of years ago called dreamlease.com that had this deal where for one monthly fee you could have 4 different "exotic" cars in a year. They even had an affiliate program, so you'll still find their links all over the web even though it appears they've gone tits up.
Basically they had a fleet of exotics, you pick what you want and ride for as long as you like for the monthly fee. You could trade it in on anything else in their fleet up to 3 times a year. I forget what the fee was, it wasn't too high actually, I seem to recall like $1500 a month. Interesting idea that obviously didn't work. For me, the flaws were the selection and the fact that you were getting someone else's sloppy seconds (or thirds or fourths or worse) unless you just happened to get a new one as it entered the fleet. I want new car smell when I get a new ride! The selection wasn't "exotic enough" for my tastes. Mostly cars in the $60-80K range. There would be more temptation with a plan with some of the really ultra expensive stuff that I'd like to play with for a month or two but would never consider actually buying even if I were engaged to Brad Shaw's money. I'd love the opportunity to try to get myself killed in a McLaren for instance |
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07-10-2003
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#25 | ||
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Members
Join Date: Jan 2003
Posts: 165
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07-10-2003
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#26 |
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Hospitality Supervisor
Join Date: Oct 2002
Posts: 2,338
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Hey Mike, post some sound clips so we can your whistle tip!
WOO WOOOO!! |
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07-10-2003
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#27 | |
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Members
Join Date: Oct 2002
Posts: 1,997
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a white guy driving an Escalade with 24s in New Oreleons ?
that doesnt sound right..
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07-10-2003
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#28 | |
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Hospitality Supervisor
Join Date: Oct 2002
Posts: 2,338
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07-10-2003
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#29 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Members
Join Date: Nov 2002
Location: Last seen trolling the Detroit River
Posts: 494
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Quote:
All times are GMT -4. The time now is 12:59 PM..
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) and my cars here in the boondocks get abused.
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