Please do not consider a fleece, it is the equivalent of renting. It will not improve your credit and is a poor financial decision.
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Dear Dave,
Do you have any advice on vehicle leasing for business purposes? I’ve heard that the expense is 100 percent deductible.
Anonymous
Dear Anonymous,
Yeah, and it’s 100 percent stupid, too! “Fleecing” is absolutely the most expensive way to operate a vehicle. What you’re talking about is rationalizing the fact that you want a vehicle you can’t afford. It’s a bad idea.
Dr. Tom Stanley interviewed tons of
millionaires while he was writing his book,
Stop Acting Rich. In the process, he found out that 80 percent of them had never leased a vehicle. What does that tell you? It tells me if you want to be rich, you need to do what rich people do—and they don’t lease their vehicles! Plus, I really don’t care if it’s 100 percent deductible. Guess what? I get deductions on the vehicles owned by my company. It’s called straight-line depreciation."
Dave Says Car Leasing is Fleecing - Dave Ramsey - Townhall Finance Conservative Columnists and Financial Commentary - Page full
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