There are high mileage leases, too. One of my former partners got a 100,000 mile lease (3 years). He basically paid for the miles ahead of time rather than getting penalized later. He said he did the math and it was still cheaper. High mileage leases are more expensive, but if you know you are going to put a lot of miles on it, they might make sense.
My partner felt like it worked for him. Once the lease was up, he bought the car for his wife to drive for a couple years until his daughter got it to take to college. If you are like many of us and want to avoid car payments, it doesn't make sense. But, in his case he drove so much for work that his mileage checks paid for the lease. Because it was a deductible business expense and the mileage was paid back to the firm, he never had to pay for the vehicle other than using the mileage checks (which were not considered income, so he saved on taxes). Don Snook -----Original Message----- From: Curt Raymond [mailto:[email protected]] Sent: Monday, August 15, 2016 3:33 PM To: Mercedes Discussion List <[email protected]> Subject: Re: [MBZ] OT leasing a car Sure, that too. I had a boss once when I was in college who leased a new Honda, then got a job that required an absurdly long, like 150 mile round trip, commute. She'd gotten a huge pay raise so the job made sense but like you kid she had to park the car and buy another since the mileage price on the lease was absurd. That was when I decided leasing was dumb. -Curt From: Scott Ritchey <[email protected]> To: 'Curt Raymond' <[email protected]>; 'Mercedes Discussion List' <[email protected]> Sent: Monday, August 15, 2016 4:28 PM Subject: RE: [MBZ] OT leasing a car It's a tax thing. Lease costs are deductible business expenses. For a personal vehicle, there is only a narrow range of circumstances where leasing makes sense (like a temporary need). Two of my kids leased (vs bought), against my strongest advice, and it hasn't worked well. One used up the allotted miles and had to park the car for the last several months of the lease. The other will need to lease another very soon (with big up-front costs) or buy out the existing lease for too much money. I think this was a case of wanting more car than they could afford and getting trapped as a result. > -----Original Message----- > From: Curt Raymond via Mercedes Sent: Monday, August 15, 2016 11:15 AM > > I know companies like to lease stuff since it keeps it off the ownership > books ... _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
