My Situation to Ownership - Your Advice???

[luxury1]

So what would you guys guess would be an average bill at the end of the lease given "average" wear and tear?

[mjw930]

You can't write off the lease payments on your taxes unless you own your own business or use the vehicle in the performance of your job and are not reimbursed for it's use. The average person can't write off the lease payments anymore.

[tqtran]

Originally Posted by mjw930

You can't write off the lease payments on your taxes unless you own your own business or use the vehicle in the performance of your job and are not reimbursed for it's use. The average person can't write off the lease payments anymore.

That must be the catch then. I have most of my assets owned by my FLP(Family Limited Partership) and my corp. My mistake, for some reason I thought most Porsche owners have their estate planning or at least tax strategy done as well.
Well I guess this is a good time to say, "If you don't have an FLP then get one. Its a good way to save on taxes and protect your assets."

[Brucelee]

I recommend you simply Google "auto lease vs buy analysis."

There are a number of excellent articles that will summarize the issues for you.

Re: taxation, for most W-2 based earners, you CANNOT write off any value of the lease unless you are using the car for unreimbursed business use.

The point raised about the depreciation hit in the fists years of ownership is a valid point. I sell many late model Porsches for the simple reason that after 2-3 years, the price/value equation is much more attractive to many folks.

Good luck!