The end of the year is fast approaching, and that means there are several reasons to buy a car before the year ends.
End of the year bonus
Put that Christmas bonus to good use and make that step to getting yourself the car you have wanted all year. It is the time for new year, new you, what is a better way to improve that mentality than a beautiful new vehicle to replace that old, clunky you?
With the end of the year comes the holidays. Do you have a significant other or a child who is due for a new car soon? Why not make it easy and make it an extra special Christmas present! With our inventory, we have a huge selection of almost new luxury cars at excellent competitive prices and quality. Now is a good time to stop putting off the inevitable and just do it.
Personal tax benefits
Starting in 2018, married couples have a joint deduction of $10,000 on state and local taxes. So, if you have not hit your limit and are considering replacing your vehicle soon, this is an excellent way to maximize your deduction. Also, many professions are now getting pass-through income benefits for s corp and partnerships. You can now take a 20% deduction for your vehicle, and this tax break sunsets in 2025, so if you are considering a work vehicle, now is the time to do it to take advantage of this savings.
Business tax benefits
Depreciation of luxury car expenses has risen substantially in 2018 if you use more than 50% of your vehicle for business. You may also be able to write off some of the cost of your repairs. The price of a car is considered a capital expense since these expenses expect to last longer than a year, they are not deductible, however, with a 179 deduction is a depreciation allowance. Depreciation allows you to recover the costs by breaking up the deduction over several years.
No matter what, you don’t even need a reason to get a new car this year. You work hard; you should enjoy the fruit of your hard work. So, even if the above doesn’t apply to you, you deserve to treat yourself, so come down and do it.
In short: The time to buy that car you have been considering is NOW. With the end of the year incentives and tax benefits, you really can’t afford to lose the opportunity if you have been considering it or plan to buy soon. Call us at 512-710-2448 or contact us on Facebook or our web page to book an appointment today.