Larg(er) SUV Lease

Ask the Hackrs
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Hey Everyone,

I didn’t expect to be in the market for a new vehicle, so stumbling upon Leasehackr has been very helpful! I’m looking into a 36 month, 12k miles per year lease on the X7 xDrive40i.

Any recommendations on other SUVs similar in size that lease well would be appreciated. Ideally, I’d like to have the 3rd row as an option, even though I won’t use it a ton.

Thanks in advance!

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Nothing that size leases well.

You just picked the $1500/month car because you have one now or you just saw it and said, I want it big!

a Mazda CX90 PHEV has a 3rd row and leases for around $650 but isn’t compared to the X7

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Volvo XC90

Acura MDX

Mazda CX90

Could probably get all 3 of these for the same combined monthly cost of the x7 lol

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OP - what’s your budget or target range?

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I figured it wouldn’t be the best space for a lease. I currently have a QX80 Sensory and love it but my accounting team advised me it’s time I start seriously consider leasing through my businesses. I need a good amount of space for both personal (young kids, sports, etc.) and business (no heavy hauling).

I’ve always loved the X7 but like the Volvo XC90 a good bit, too. I’m working with the expectation of $90k MSRP (hopefully lower) and learning residuals, money factors, cap costs reduction, and incentives now as I do my homework. This is a really cool and helpful forum, so I’m glad to stumble upon it.

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You have an accounting team? Thats $500k in labor just for accounting not including the CFO

You should be looking at the Cullin or betayaha

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I like how people with small businesses leasing cars for personal use is so normalized, that the IRS basically views the lease expense appearing as an itemized cost is completely normal. Dental practice? Definitely needs an Escalade to get supplies from Mckesson. Concrete setting sub-contractor? Two Escalades to move clients around. Accounting firm? Alpina B7 because why not.

It’s probably a red flag if a small business isn’t having lease expense on its P&L.

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This bothers me a lot, mainly because I feel like I should be doing it because everyone does, but I’m not, even though I legitimately do drive a lot for work purposes

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Playing the long game for the IRS audit in a few years. I see what you’re doing.

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Don’t think it’s worth the headache of what if’s

This boi was to cheap to get out his own way

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That’s been my thought too, the stress of the what ifs isn’t worth the savings, but I hate the idea that I am missing out on savings that I am legitimately entitled to.

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I’d say you are definitely entitled to those expenses and they are legitimate. I’m guessing you do visit your dealer network and even help with some on-site deliveries? It’s part of your business… as long as the justification and need make sense, it’s a matter of providing the documentation for it.

Just like real estate agents drive around a lot, many for very legitimate reasons. Now, does it make a difference whether it’s a Honda Odyssey or a MB GLS? I’ll let the accountants opine and deal with that :rofl:

I dunno… it’s an image and status thing, right?

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Yeah at a bare minimum get one of those apps that lets you track when you do a trip that is work related. Like picking up a client, test driving a car for educational purposes, evaluating how a car’s auto-park feature works at Wegman’s, delivering paperwork to various places all over town one page at a time…

And expense the standard IRS mileage rate once you have all this data. You can’t expense both a lease and the standard IRS rate, but at least then you’ll have all this itemized data from your app.

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This is the right way.

Real Estate agents, Vehicle brokers, Dentists included.

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Soooooo, what I’m reading is just pay myself a little bit more and lease the car personally. Not worth the headache of documenting everything 24/7 for the tax benefit.

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Uh… what we’re saying is a BMW X7 or Mercedes GLS or Range Rover will be awesome for your “business”.

If not those 3, there are some imports to consider form Volvo, Mazda, etc.

And you have a whole team of accountants that can help make sure you are above board and pass any audit.

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May want to read through

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Thank you!

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You can look through the Marketplace to see what payments are like given anyone’s circumstances (for example with Infiniti loyalty or without BMW loyalty).

Lease payments can vary wildly — much more than the difference in MSRP would suggest. A $90k X7 could be way more than 25% higher than a $72k Infiniti

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