2017 Tax Savings in Business Vehicle Purchases

Buy a company car or truck and save on Taxes before Dec. 31st, 2017

As the tax loopholes get sewn-up by congress the next few weeks, the smart fleet managers of every company with profits is looking at their aging company trucks, delivery vehicles and executive cars foe possible upgrading.

Section 179, the current tax deduction for the purchase of capital equipment for your business up to $250,000.00 including vehicles, have not been mentioned specifically. However, as the corporate tax rate is set to drop into the 20% arena, one has to consider ways to save on 2017 taxes, while waiting to see what the final package does to such deductions in 2018 and into the future.

Dodge, Ford and Chevy/GMC have all pitched alluring incentives including 0% for up to 72 months, employee pricing and rebates/discounts up to $ 10,000.00

Now is the time to weigh leasing vs. an auto loan?

Lease for short term use with miles under 15k a year.

Leasing is best for executive vehicles and company cars driven 15k or less miles per year. Import brands have the best residual values, which makes the payment lower. Leasing is also a benefit for those with limited cash available for purchases or down payments looking to meet a payment budget.

BUY or AUTO LOANS for work trucks, vans and specialty vehicles.

Need a flatbed, diesel pick-up or basic truck for your crew, grab a deal this last few weeks. Put as much down payment as you can and take the rebates. Light on cash, buy it on a low interest loan for as long as possible.

Don’t wait til the last week of the month to spend that BONUS cash, the selection will be slim to none.

Got a question about a vehicle you are considering? Give Sarah Lee, aka MyCarlady a call or email. Advice is always fre. sarahlee at mycarlady dot com. 702–521–7546 PDT

Sarah Lee Marks is MyCarlady. She has over 28+ years of experience.
She writes about cars, and is a staunch consumer advocate on car related subjects.
MyCarlady offers free car buying advice, and private, auto-related services to help you maintain your personal or commercial vehicles.
Contact Sarah Lee for more information: sarahlee@mycarlady.com Join the MyCarlady newsletter to be kept up-to-date on this and other important car information.