Buying A Car For Your Business
It is sad that it is that way, but you do have more credibility with a more attractive vehicle becuase it shows some level of apparent wealth, even if truly you migh be in debt up to your ears because of the car. Don’t buy a car that will lock you down. Buying a vehicle is a silly thing to do just for the glamour. Don’t feel like you have to get the best car to represent your business because it only lasts so long before the wear and tear starts to pile up on your car and it doesn’t look that pretty any more.
Take good care of it, but realize that driving on a road is going to cause chips, scrapes, and potentially accidents. In a couple years you are going to have to get a new car to stay ahead of the Jones family. Just don’t spend what you don’t have. Create another stream of income first that could afford the monthly payments and then go for it. Give yourself a goal and shoot to obtain it.
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Filed Under Starting A Business |
Tagged With apparent_wealth, attractive_vehicle, business_expense, buy_a_car, car_repair, credibility, gas_car, wear_and_tear
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Yes, an expensive car is probably the best way to impress people in most businesses. However, others will be impressed by a “green” choice…a hybrid car for example.
“tax season goes for write offs for purchasing the car, gas, car repair, and lot of other things indirectly”
With a business car you would set it up to depreciate over time. This will give you the same deduction each year. A car would likely be depreciated over 5-8. The more expensive the car the less tax you will have to pay. If you can afford it might as well buy it for the deduction! Better than saving the money and have Uncle Sam take his portion. Same is true for anything business related. It is always best to put back in as much capital as you can. Thatway you owe fewer taxes!
Great post! Buying a car for business use can be really tricky. If you want to do it right, do your research and shop around and learn all you can about the model and the dealer. I used Howcast http://www.howcast.com/categories/208-Buying-a-Car to get alot of tips before I bought my last car
You have posted a great collection of new and designer cars. I visited a site before that is providing the lowest cost loan and the best deal. Auto Marketing Group usually offers you an auto loan company is their price for your loan, including fees, extra charges and your interest rate.