No more leasing?

[syscal]

We were looking into getting another Jeep for the company and found out Chrysler, GM, and Ford are no longer leasing vehicles. I guess they have an option at 12% but I don't consider that an option.

Found this on yahoo and I have to say I'm a little shocked. http://ca.autos.yahoo.com/p/1115/the-end-of-domestic-car-leasing

I think it's time to talk with our accountant...am I going to be purchasing vehicles for the company now instead of leasing? We can go with imports still but that's not exactly a way to save $$.

[7thgenvic]

Why not just finance. You can still write off the payments :)

[syscal]

From my accountant:

"The biggest impact is not the write-off but the fact that purchasing requires a down payment and also the payments are higher because there is no but out at the end of the contract. From a write-off point of view it is the same over a 5 year period however leasing is a nice flat write-off and purchasing is high in the early years and much lower in the latter years."

Gross. I'm assuming someone out there is thinking of a great way to make money off leasing new vehicles outside of the big 3 and we'll be back to normal in no time!

[94boosted]

Originally posted by syscal
We were looking into getting another Jeep for the company and found out Chrysler, GM, and Ford are no longer leasing vehicles. I guess they have an option at 12% but I don't consider that an option.

Found this on yahoo and I have to say I'm a little shocked. http://ca.autos.yahoo.com/p/1115/the-end-of-domestic-car-leasing

I think it's time to talk with our accountant...am I going to be purchasing vehicles for the company now instead of leasing? We can go with imports still but that's not exactly a way to save $$.

This is nothing new. I know for a fact Chrysler has been pretty much out of the leasing game atleast for a year now. Pretty sure the other 2 have aswell.

[syscal]

Originally posted by 7thgenvic
Why not just finance. You can still write off the payments :)

From my understanding you write off the depreciation, not the payments.

The nice thing about the Jeep was the residual was so high the payments were much lower than another vehicle of the same price.

[benyl]

you can still lease, but you have to go with a third party.

[djayz]

leasetrader.com

just buy someone elses lease...

edit: swapalease.com for Canada

[Masked Bandit]

Originally posted by syscal


From my understanding you write off the depreciation, not the payments.



And probably the interest on the financing as well I would guess.

[ExtraSlow]

There are plenty of third parties still doing leases on new vehicles.
http://www.jplease.com/ is one. Shaw leases trucks.

[atgilchrist]

Originally posted by syscal
We can go with imports still but that's not exactly a way to save $$.

Imports are really any more expensive, depending on which class you looking at :dunno:

[Enhance]

shaganappi in northland has a big sign outside saying "WE STILL LEASE"

*edit*
this might sound like fanboyism, but with warranties being government protected and all, you can get a steal of a deal with Ford, GM, or (if you're gay) and want to buy an ugly vehicle, Chrysler. Shag Chevrolet has the only sign ive seen without calling any sales peeps.

[syscal]

Originally posted by atgilchrist

Imports are really any more expensive, depending on which class you looking at :dunno:

As I mentioned before, a Jeep with the same price was cheaper on lease payments due to resale. That was based on a comparison of Jeep Wrangler 4 door and Honda Element at close to the same price tag.