What are the tax benefits of leasing a vehicle?
Here are some facts and a little knowledge of where trends are taken us. The average Automobile price tag or MSRP today is much higher than ever before. In 1989 any car over $12,500 was considered by the IRS to be a luxury automobile. A financed car at the selling price of $10,000 and an average interest rate of 10%, in that day and time, for a term of 48 mos. was $250 per month. With the ever growing price tag of new and pre-owned vehicles today. The average person financing a car at 7% interest can not afford to finance these high ticket items. And with inflation of the all mighty dollar surpassing the depreciation of these assets, they must and need to lease. The average price MSRP today is over $20,000++ with a 48mo term retail finance payment growing over $500 per month. It is stated throughout Industry and Economic articles, that over 40% of all cars today with a price tag of over $25,000 are leased and within the near future with the rising cost of technology to build bigger, be
