12-03-2006 12:59 AM by
GMAN
I don't want to rain on your parade, Iceman's wife, but these often start out fine. Unfortunately, the closer it gets to owning the more difficulty most seem to experience in making enough money to make the payments, pay all expenses and make a decent living. Most of the information we have discussed has come from those who have experienced it first hand. I hope things work out with your husband.
Actually OOIDA did a topic on lease purchase on XM and they said that there are drivers making good money with some companies. They keep track of complaints against companies and can tell you who to stay away from or who is good. The best lease purchase is leasing from the dealer and not from the company controlling your paycheck.
Lease payments are tax deductable but you can't claim depreciation.
If you finance you can depreciate but the payments aren't deductable.
An accountant can give you the full details.