My Lease Is Up Next Month

[HH The Bahbi Lama]

on my 2009 silver LS460. I hope that it finds a good home. Someone will be really happy becasue I only have 25k miles on it. i thought about buying it for the residual of $33k but I already have two other cars.

[SW03ES]

Do yourself a favor and get a trade in quote before you just turn it in. With that low mileage I bet you can make some money on it. Hell...I'd give you $35k for that!

[pj8708]

Both SW above, and I have leased cars in the past. I can't speak for SW, but if your driving just 25k miles over what I assume is a 3 yr. period, then there can be only two logical reasons for you to lease a car.

1. If you really like to have a new car every 3 years, and can afford the down stroke up front, plus the payments and wear and tear their always going to find a way to get out of you. I know I'm leaving some things out.

2. Our you believe you can write off enough of the lease cost to make the lease outlay petty cash in your world. I am not a tax accountant and not in my business any more. But it is my understanding that through out the 2000's many of the tax write offs that had become so lose it was crazy, were either tightend or eliminated. Thus making car leasing less benifical.

IMO, at 8,333 miles a year, I would be nuts leasing the car, and hemoring money like I'd been run over by an LX! LOL

Paul

[HH The Bahbi Lama]

Unless of course you get a lease allowance with your company and it doesn't cost you anything. I am retiring at the end of the year so that allowance goes away.