Ankur
March 2nd, 2008, 12:05 AM
Is it possible to lease a limo? Or is financing and owning a limo the only route.
What is a typical depreciation in value for say a 1-3 year old stretch bought at $50-$75K
Greenpala
March 2nd, 2008, 03:02 AM
Stretch limo looses about $10K a year on average.
Dream Limo
March 2nd, 2008, 07:58 AM
Yes, you sure can lease limos. I really don't know witch is better. With leasing you can deduct the total payment as with financing you can only deduct the principal and not intrest. I personal use Jake Sweeney Auto Leasing in Cincinnati, Ohio 1-888-489-5253, ask for Bob Barnett and tell him that Gary from Dream Limo sent you. They are really good people to work with.
Salicete
March 2nd, 2008, 12:08 PM
Be aware that you need to consider depreciation with regard not only to resale, but also to taxes.
You should really speak with your accountant to see which type of financing best suits your business model.
I personally prefer to buy outright or finance; however, I would never finance with less than 20% down and for more than 48 months. (Great advice from "Wheels of Gold")