Lexus GX550 - New Business Lease Questions

Ask the Hackrs
1

Hi!

My partner and I just started a new business a couple months ago. We don’t have any credit yet. I’m wanting to get a new Lexus to include as a write off

  1. Do I need to put the business as the primary and be included myself as a guarantor?

  2. Do standard discount programs apply to business leases? (Costco, PenFed, etc)

  3. Are MSD’s allowed?

Any other things to consider that I’m missing?

2

You probably won’t get approved unless you go on the lease. Usually need 3-5 years in business

Depends on dealer, they can use your personal discounts if you sign off on lease. If it’s business only, most dealers will want everything in business name

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3

Also insurance costs will make it unreasonable

Also no one will give u a loan without a PG for a while lol

4

Have you actually thought it through? Like every $100,000 in additional expenses “written off” saves you just ~22,000? The rest is just wasted

NTM cash flow is way more important for a new business than lowering Ebitda for tax purposes

5

I mean again…not to be disrespectful at all, but you said “We don’t have any credit yet. I’m wanting to get a new Lexus to include as a write off”.

Maybe talk to a financial advisor? Your business?

6

I appreciate the feedback.

The only cost to this business is labor. Since it’s a work from home (other than meeting with potential clients) I don’t think the business will require a lot of credit. I thought that if I was going to buy it anyways, I might as well use the tax advantage.

Yes I need to discuss this with a financial advisor but I like do some homework first. I chose the easy route - this forum.

I could pay cash for it, but leases are my preferences and from my understanding, more advantageous through the business.

Thanks!

7

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