Got my leasing addiction started $0 DAS $213 3 series & $338 5 series, but couldn’t resist the price crash on the Model X (base model dropped from $120k earlier this year to $80k today, which now qualifies for $7.5k fed tax credit).
If anyone is in the market for Model X, should run the numbers
(esp if you’re in NJ or EV friendly state).
2023 Tesla Model X
MSRP: $79,990
Dealer Discount = 0%
Incentives: None
Residual : N/A
Would’ve never paid $120k for this car, but $80k seems alright, plus the savings on the tax bill. Overall, satisfied with the purchase and happy that my stingy ass wouldn’t have to stress about hunting down the cheapest gas station in the 10 mile radius. (home charging comes out to $0.47 / gal in gas equivalent).
I agree, every time people post about using business lease tax savings and LLC’s to push cars into lower sales tax or registration sates, those threads are usually locked by @max_g .
It doesn’t make sense for business tax savings to be shown as a way to “reduce the effective” on a Tesla lease.
I’d rather Eric’s equity roll-forward be excluded from DAS than to include tax savings as a reduction of monthly or lifetime effective costs on a lease.
Especially when they’re misleading savings for a growing or flatline business. Accelerated depreciation isn’t more than you could depreciate over the life of the asset; it’s just front loading the same amount.
It only makes sense for a declining business that doesn’t stand to benefit from much depreciation in subsequent years IMO.
@holeydonut all active mods have usually shut down any suggestions of fraud or tax evasion; not sure what you’re going on about.
The only reason this thread seems to be a “good lease” is because of business tax savings that wouldn’t be available to most of the users here.
I just remember you’re usually the one who locks down threads that start talking about how real businesses use leases on GM T1’s and 7 Series, S-Class, etc…
I mean for a purchase the 7500 fed is the same thing at this time right? You don’t see anything until tax time?
I’m not calling it a good deal and I’m not even eligible to do the same, but it seems like a useful data point to share what’s legally possible (assuming everything OP did is legal, I don’t know business tax law)
We aren’t disputing the $7,500. We’re disputing OP claiming Sec 179 tax savings @ 80% bonus depreciation to his business into his Tesla payment structure.
As Max noted, this savings could easily mean more tax liability in the long run since a growing business would presumably pay more taxes in the future; at which point the bonus depreciation pull-ahead isn’t beneficial over time.
Regardless, income tax (beyond the $7,500 EV credit) usually isn’t a lease or buy savings and can’t even be factored into the LH calculator.
You’re missing the point that finance or lease, this isn’t a “hacker worthy” deal. The attractiveness of the purchase or lease is very low unless you factor in the Sec 179 tax savings.
But then, the deal is only attractive when you compare it against the normal LH “signed deal” that excludes income tax savings beyond the $7,500 EV credit.
It’s just not an apples to apples comparison since LH rarely if ever allows lease operating expense or Section 179 savings to be listed in the lease or purchase financing calculation.
The OP’s mental gymnastics are very different from, say, suggesting the use of a Montana LLC that has no use except to evade taxes in the lessee’s actual home state.
TBH I would never have looked at this thread unless you tagged me… for what purpose? To shut it down? No, nothing illegal was suggested here AFAIK.
