[TurtleBoy]

Originally Posted by BimmerDad84

If you own a company you can essentially depreciate the value of the car over the duration of the lease and pay with pretax dollars effectively saving at least 37%

Okay, thought you were wanting to do it as a personal lease. I have not heard of any leasing companies on here that do that. Maybe you can purchase and use the Bonus depreciation although I'm not familiar with that.

[BimmerDad84]

I used bonus depreciation for the 45e. But starting 2023 you can only depreciate 80% over the first year.

[TurtleBoy]

Originally Posted by BimmerDad84

I used bonus depreciation for the 45e. But starting 2023 you can only depreciate 80% over the first year.

Gotcha, thanks.

[RetSurfer]

Originally Posted by BimmerDad84

If you own a company you can essentially depreciate the value of the car over the duration of the lease and pay with pretax dollars effectively saving at least 37%

That's a scary thing to count on. The IRS, if you're audited, will want proof of using the car mainly for business, and I don't mean just driving back and forth...

[Longboarder]

Originally Posted by RetSurfer

That's a scary thing to count on. The IRS, if you're audited, will want proof of using the car mainly for business, and I don't mean just driving back and forth...

Then have one car for 100% personal use, another car for 100% business use.

[White340]

Originally Posted by Artdnj

Damn your credit must be straight perfection...congrats

That’s why so many people are against increasing IRS enforcement. I bet all the G wagons in my neighborhood are company cars.
Man it sucks to be w2.

[BimmerDad84]

Originally Posted by Longboarder

Then have one car for 100% personal use, another car for 100% business use.

Exactly.

[TXPearl]

Originally Posted by BimmerDad84

I used bonus depreciation for the 45e. But starting 2023 you can only depreciate 80% over the first year.

Isn't that still more advantageous than 100% depreciation spread out over 3 years (or whatever lease term)?

[Henry2020]

I thought there were some deduction limitations for luxury leases. You may want to check with your CPA.

[AbleDanger]

Anyone have any data on what the latest and greatest BMWFS rates are? As well as any other nice shiny rates floating around? Best one I'm seeing is NFCU with 4.74%.

[meninblue]

Originally Posted by hdahman

on their website says 4.5%! how you got it?

They raised rates around 2/16. I was lucky to close the week prior.

[flexjin]

Originally Posted by AbleDanger

Anyone have any data on what the latest and greatest BMWFS rates are? As well as any other nice shiny rates floating around? Best one I'm seeing is NFCU with 4.74%.

4.59% for February(top tier credit), March is not release yet.

[mikeinaustin]

Do they usually release exactly at the first of the month or might there be a week or so delay?

[TurtleBoy]

Originally Posted by mikeinaustin

Do they usually release exactly at the first of the month or might there be a week or so delay?

I think most often it is the second business day of the month or late on the first.

[Crusje]

Originally Posted by Longboarder

Then have one car for 100% personal use, another car for 100% business use.

I use apps like Everlance to log my miles. I think you still need a log you can't just say you have 100% on one car. I was like 93% business last year.

Originally Posted by White340

That’s why so many people are against increasing IRS enforcement. I bet all the G wagons in my neighborhood are company cars.
Man it sucks to be w2.

Yeah being W2 sucks. I realized that 6 months after graduating so now I'm 100% 1099. The hourly rates are almost double in anesthesiology and you keep way more money after taxes with some clever accounting haha. The tax system is crazy and only business owners can take advantage of it.

[Longboarder]

Originally Posted by Crusje

Yeah being W2 sucks. I realized that 6 months after graduating so now I'm 100% 1099. The hourly rates are almost double in anesthesiology and you keep way more money after taxes with some clever accounting haha. The tax system is crazy and only business owners can take advantage of it.

With 5-6 cars or more sometimes one car or even two can be 100% business.

[X6carpediem]

Does anyone have the March BMWFS rate? TIA

[Ahwang826]

One dealer said 4.59 buy rate yesterday…another said 6.99.

[Coops361]

4.69% @ 60 Months and 5.09% @ 72 months but only on the 40i. We just purchased our M50i on the 2nd and got in with BMWFS for 6.6% @ 72 months. I don’t love the rate but the dealer made it worth it in other areas of the contract. Plus the loan will be payed off in about half that time and/or refinanced if rates come down.

[X6carpediem]

Thanks for your response. I got 6.09 for 72 months from Chase. The dealer said they would try to beat or match the rate I get on my own. Hopefully with a financing incentive discount!

[keny156]

For another data point. Closed purchase 2/28 at 5.59% from bmw fs. Intend to refinance in short order to my credit union at 4.5%.

[dc22]

Originally Posted by keny156

For another data point. Closed purchase 2/28 at 5.59% from bmw fs. Intend to refinance in short order to my credit union at 4.5%.

Which credit union are you getting this quote from? Solid rate during these times