IRS rules regaurding buying a car for my Corp?

mobile_man

Ok so I have 2 partners in a C Corp. We are looking down the road and see the need to buy a vehicle for each of us. After I did some research I get the feeling that if you buy a car over 15300.00 and under 6000 GVW than its considered a luxury car. Well doesn't that account for most sedans? One of the vehicles would be a BMW or equivalent for our Sales VP, the others would be a truck and a SUV so no weight issues there. Am I misunderstanding this or is there another way around this?

Answer
"buy a car over 15300.00 and under 6000 GVW than its considered a luxury car"

If you can afford vehicles like this, you can afford to talk to a CPA, cheapskate.

what color temp do most luxury cars have for headlights?

Da'Rel B.

is it 4300k or 6000k etc

Answer
Nobody uses 4300k anymore, the color is too dull. The 6000 is used commonly by Audi and Mercedes Benz, but I will have to agree with the guy above me, the 8000 look beautiful and are commonly used by BMW and the new Buick Enclave giving them a stellar shade of blue.

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How expensive is it to maintain an old european luxury car?

Afterbiolo

I have been saving for a long time, and currently the car of my dreams would be an old Mercedes (1960s-1990s). The older ones are surprisingly inexpensive (my sister bought a 2006 sentra for $6000 with 60,000 miles on it. The car I have my eye on is a fully loaded 1991 300SE Mercedes with 70,000 on it, asking price is $4650-- in almost perfect shape). First off, why are they more cheap? I spoke with my father about it; he owned a couple BMWs in his childhood. According to him, the parts and labor are so expensive to fix the cars, nobody wants them. I believe him, but I'm just curious to what extent? For example, what is an approximate running cost per year for a 2006 sentra and a 1991 300se?

Thanks a bunch

Answer
I don't know what the running costs are but they will be absurd for sure. European cars are just stupid expensive to work on. If your intent on owning one I would go with the late 60s or early 70s Mercedes, preferably a carburated one. They may be expensive to fix but are reliable so they won't break very often. Reason they are cheap is just because luxury cars depreciate alot. Don't know why, they just do. If I were you I would go with a Cadillac or a Lincoln just because American cars are alot cheaper to maintain. But for the love of GOD stay away from Porsches and Ferraris. A timing belt service on one will be more then actually buying an 80s Mercedes

Looking for a new car?

Richard

My civic was stolen and now im looking for a new car. Got $2380 from insurance and I got extra $ with me. Looking for a newer car 2000+ vehicle, just to go to work and school and at the same time feel good with what im driving. A little newer maybe with luxary and not so hard on insurance. I checked a 2003-2004 g35 and my monthly would be $100 more. Thought maybe i should go back to buying a 2000+ mazda millenia s/p. Is there other vehicles you guys can name that are what I listed at the top? Looking for a price range under 6k. rhe lower the price better

Answer
Honda Accord Coupe. Even the older models (early 2000) look decently modern in comparison to newer cars today. You can easily afford around a 2003 model for about $6000. They're not only reliable, but they're cheap to maintain and fix, and they're easy on the insurance.

If price is a concern, don't buy a cheap luxury car. They can be expensive to maintain and fix.

My first car is a Honda Accord Coupe and an oil change cost about $40. My second car is a Mercedes and an oil change for that is about $200.

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