Gen V Leases?

[kpflynn]

Looking to get into my first Viper and as I recently started an LLC, I'm looking to lease it.

Has anyone seen any good lease deals on 2013/2014s? I can't seem to find any information from Dodge and my local dealer only wants to do 60 month leases which is out of the question.

Alternatively, have people been doing any lease takeover situations?

[ViperSmith]

I doubt you'll ever find one simply because values are all over the place.

You can buy under your LLC and get the same tax benefits.

[Policy Limits]

Well the residuals have been set.....LOL.

[EdwardETraylorIII]

^lol!!!

[kpflynn]

Well the residuals have been set.....LOL.

Is "0" a residual? :D

[Policy Limits]

Truth is the car is awesome. So there's no reason to sell it. So value is moot.

[kpflynn]

Truth is the car is awesome. So there's no reason to sell it. So value is moot.

I was shocked when I test drove one how good the car was.

[ViperDog]

Nah, you won't see leases because the residuals are too bad. Maybe next year if the market improves and prices stabilize.

[kpflynn]

Nah, you won't see leases because the residuals are too bad. Maybe next year if the market improves and prices stabilize.

That's kind of scary.

[HobokenViper]

Look at the Ford GT. They had a hard time selling them, and within a few years of their prices and residual values taking a hit, they are now skyrocketing into outer space unbelievably fast!!! With the lowest production numbers of any generation yet with many 1 of 1's built on the best Viper ever built to date, I know we will see values stabilize and go back up one day in maybe a handful of years. Gen IV pricing has hardly changed since I bought mine over 2 years ago.

And no, I doubt you will see any leases on a Gen V available unless you are ready to pay through the nose for something, if it is even available.

[Bill Pemberton]

Vipers have never been aggressively leased because so few folks have ever, historically, leased them. Hard to figure residuals, etc. on a vehicle that usually is leased less than 5% of the time. If you are writing it off the company it should be a moot point and the residuals are such that virtually all will be worth more than their end value. Go with a Dealer that is interested in getting the car back and the chance that you will have equity is quite high. You will be able to lease 14s, but 13s are off the grid now ( 14s will be soon), so the only Leasing Companies that would do a 13 would treat it as a used lease --- waste of time in my estimation as it would be more to lease than a 14.

Some Dealers have suggested to Dodge that it would be a good idea to do a more aggressive lease, but as noted, the numbers are what have caused little movement --- too few over the years have wanted to actually lease. Now with the lower price , a lease is definitely more appealing than a month ago, ha!

[Viper Girl]

One of our site sponsors has a GTS bumblebee that is so low I can't believe someone hasn't snapped it up. Its a lot of car for that $

http://driveviper.com/classifieds/gen-v/p426-2013-viper-gts-bumble-bee.html

[Shooter]

One of our site sponsors has a GTS bumblebee that is so low I can't believe someone hasn't snapped it up. Its a lot of car for that $

http://driveviper.com/classifieds/gen-v/p426-2013-viper-gts-bumble-bee.html

I sent him a PM 2 months ago about that car and he never replied. While it is a lot of car for the money, unfortunately with better deals out there on NEW cars, he's still asking too much.

[Brad00GTS]

I used to lease all my vipers, but the last two I haven't been able to. They offer great advantages, especially if you live in a state like California that doesn't offer a sales tax offset on trade in. When I purchased my TA, I had to write the State of CA a nice check of over $10K. If I wanted to use my voucher to get a newer model, even with the lower prices, I would have to write them another check of $7-$8K. But now if there was a lease option, that takes the sales tax out of the equation. I said a long time ago, if Chrysler offered an aggressive lease plan like Mercedes or Porsche, they would sell more vipers.

[Policy Limits]

I hear the business deduction party is over and that the fed just changed the rule to have a weight threshold so you end up with an suv instead of a ferrari. Or so my neighbor the doctor was saying as he's always leased. Will need to check with CPA. There's something nice though about the notion that you actually own something. Absent a tax deduction I don't see the benefit. There's typically mileage and wear restrictions. Plus who wants a car payment? Not thus guy and I don't care how low rates are. Ultimately do what works for you. I hear closed end leases are the way to go and to stay away from open end. Also hear premier is a good company to work with on leasing an exotic.

[ViperSmith]

I hear the business deduction party is over and that the fed just changed the rule to have a weight threshold so you end up with an suv instead of a ferrari. Or so my neighbor the doctor was saying as he's always leased. Will need to check with CPA. There's something nice though about the notion that you actually own something. Absent a tax deduction I don't see the benefit. There's typically mileage and wear restrictions. Plus who wants a car payment? Not thus guy and I don't care how low rates are. Ultimately do what works for you. I hear closed end leases are the way to go and to stay away from open end. Also hear premier is a good company to work with on leasing an exotic.

The real way to do it is, the business pays for the vehicle. You take the "payments" as income and pay tax on the income for the payments.

So, $2000/m car payment = you are paying $700/m in taxes instead of a $2000/m payment.

[Brad00GTS]

The real way to do it is, the business pays for the vehicle. You take the "payments" as income and pay tax on the income for the payments.

So, $2000/m car payment = you are paying $700/m in taxes instead of a $2000/m payment.

You two quit giving tax advise, it drives us CPA's crazy, lol. You need to have a disclaimer after your posts, "Rely on this information at your own risk, I am not a tax professional, but Ii did stay at a Holiday Inn Express last night"

[ViperSmith]

You two quit giving tax advise, it drives us CPA's crazy, lol. You need to have a disclaimer after your posts, "Rely on this information at your own risk, I am not a tax professional, but Ii did stay at a Holiday Inn Express last night"

lmao, i don't claim to be one at all it was my understanding

i don't write it off under my business at the moment

[Policy Limits]

I said "will need to check with CPA" I'm a lawyer but I'm no CPA or tax attorney. I've never leased a car in my life. To each his own.

[Brad00GTS]

I said "will need to check with CPA" I'm a lawyer but I'm no CPA or tax attorney. I've never leased a car in my life. To each his own.

Just giving you guys a bad time. Don't you feel the same way when someone offers legal advice that's not even close to right.

[ViperTony]

you two quit giving tax advise, it drives us cpa's crazy, lol. You need to have a disclaimer after your posts, "rely on this information at your own risk, i am not a tax professional, but ii did stay at a holiday inn express last night"

lmao!

[Policy Limits]

Just giving you guys a bad time. Don't you feel the same way when someone offers legal advice that's not even close to right.

Definitely. It's usually a physician incorrectly advising their patient who happens to be a client. I tell them I'll promise not to practice medicine if they promise not to practice law. Lol.

IMHO if you need to finance it u can't afford it. Ideally luxuries shouldn't be financed. This is not a fact, just my opinion.

[kpflynn]

Definitely. It's usually a physician incorrectly advising their patient who happens to be a client. I tell them I'll promise not to practice medicine if they promise not to practice law. Lol.

IMHO if you need to finance it u can't afford it. Ideally luxuries shouldn't be financed. This is not a fact, just my opinion.

Oh, I can buy one easily. I just feel like a stooge for not taking full advantage of the tax code!

[Brad00GTS]

Agreed, leases could have a lot of advantages. Your income tax rate is 30-40% and the interest rate is only 4%, so on a three year lease you could save 10-15K on taxes? On another note, some Mercedes leases I have seen, the lease factors are so low it works out to less than 1% interest. Why pay 100K out of pocket when you could leverage it at less than 1%, I know I have made more than that on my investments the last few years.

Policy, your right, luxuries should be paid for, but if you can work it into a business then the answer might change.

[Policy Limits]

Hear it's a flag or can be at the IRS. Audits aren't fun. But do what works for u.

[theviper]

If it is a legitimate business with a legitimate car that is being leased for a legitimate business related reason, you're fine. That is what leases are for! Don't let people who don't lease or don't have businesses that can lease a Viper for legitimate business related reasons tell you otherwise. The key is (if I haven't said it enough in this post), legitimacy!

[kpflynn]

If it is a legitimate business with a legitimate car that is being leased for a legitimate business related reason, you're fine. That is what leases are for! Don't let people who don't lease or don't have businesses that can lease a Viper for legitimate business related reasons tell you otherwise. The key is (if I haven't said it enough in this post), legitimacy!

Yeah, I've been told the nature of my business makes a car like this suitable as long as the price is within reason. IE, a $100k car is fine but a $400k car would not be.