My car is due in Jan. Just wondering if anyone here is leasing their car thru their biz. Any advise on which leasing company to use? Thanks!
Putnam Leasing! They due a huge chuck of the country's exotic car leasing and mainly Ferrari for the US and reccomend you talk to Pat Mcguirk or you can E-mail him at: [email protected] You can also can them at (866) 905-3273 Putnaming Leasing is a sponsor of Ferrarichat.com www.putnamleasing.com
Werd. Marcello is a great resource and has done nothing but great things for me. He got me a car in my garage, ready to run a race in less than 8 hours from calling to keys in hand. Plus, he's got me a great rate on a car I'm working on picking up... Manhattan Leasing reps the same lenders as Premiere and Putnam, and you get great service from them. Top notch. Happy to answer any questions you may have. PM me. I've had leases with Premiere and Putnam. Good companies to deal with, but Manhattan Leasing is just over the top great.
Marcello is top notch. I've had a bunch of friends go through him and every time i've heard nothing but great things. He goes out of his way to make you have a great buying experience.
"if it appreciates - buy it. If it depreciates - lease it." The wild card is that Ferrari 360s and 430s tend to hold their value incredibly well as compared to just about every other car. I'd pay cash and keep it for a decade or so.
Depends on what your biz is. Depends on what you do with the car. Don't take an unnecessary risk. You don't want the IRS crawling around you with a microscope...
My accountant told me I should keep any lease through the business under $1100 per month - otherwise it will draw some attention and may raise some flags with the IRS. I don't know how it works with putting more $ upfront as a cap cost reduction to bring the monthly down under that 'attention level', but check with your accountant - could be a way to work it.
It would also depend on the business you are in. If your business involves cars, you may be able to get away with it. However, if you own a chain of bagel stores, well, the IRS may not exactly see the need for you to have an F430 as a function of your business. Unless of course, you want to get custom rims that look like bagels ("rollin' on 19's with sesame seeds, yo")and use it as a promotional vehicle. You just have to make sure you can justify it Uncle Sam.
