Vehicle leasing

[Walter Biscardi]

Outside of Honda I don’t think there are very many companies leasing period. I’ve had one very very bad experience using a company called Genesis leasing out of California, but that was for equipment. I’ve never leased anything since.

Good luck on finding the information, I can’t see how leasing a car through a third party company is going to be a good deal, but maybe it’s out there. I’ll definitely watch this thread to see what kind of answers come back.

Walter Biscardi, Jr.
Biscardi Creative Media
HD and SD Production for Broadcast and Independent Productions.

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[Christopher Wright]

Yes, switch to a Toyota vehicle (Toyota Financial Services).
They are having some great deals on leasing now.
My last 6 leasing vehicles have been through them.
I have also never had mechanical problems with any of their vehicles.

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[Todd Terry]

[Christopher Wright] “Yes, switch to a Toyota vehicle”

Ugggh…. but I’m a Jeep guy. Have been for years and years.

Sometimes it’s style over substance, ya know (the fact that I also ride a finicky British motorcycle would sadly attest to that).

T2

__________________________________
Todd Terry
Creative Director
Fantastic Plastic Entertainment, Inc.
fantasticplastic.com

[Arnie Schlissel]

[Todd Terry] “Chrysler is now out of the leasing biz…”

There’s a chance that Chrysler will soon be out of biz altogether. I applaud your effort to keep them afloat!

Arnie
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[Steve Wargo]

[Todd Terry] “but I’m a Jeep guy. Have been for years and years.”

At least you know in advance which parts are going to fall off. Yeah, I’ve had Jeeps too. They’re kind of like an Audi: Great at first but problems after X number of miles.

Todd, doesn’t your dealer have a recommended leasing company? I know hat some credit uunions have leasing packages as do some banks. The thing to watch out for is the “end deal” which is what takes place when the lease is over.

Steve Wargo
Tempe, Arizona
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[Tim Kolb]

Interesting and diverse responses…a good resource.

As far as leasing goes, I did a lot of leasing during the 90’s when I had a bigger business and multiple vehicles, etc.

Here is my recommendation:

Not all leasing companies are huge, you may have several based locally. Often you can establish a big pool of leasing capability and just add/subtract stuff as needed. Cars, trucks, VTRs, cameras, etc. For accounting purposes, everything is immediately expensable, and you have some immediate purchasing power in this environment of stingy financing.

I’d always have an accountant who works for YOU properly examine all paperwork before you’d sign to make sure you’re getting the best deal possible on the capital, but if you go with someone local, you at least have somebody you can visit in person and grab around the neck if a serious discussion needs to take place…

One thing on leases. DO NOT get a lease with a predetermined buyout term/price. You won’t survive an audit with this as it’s strictly another version of a purchase agreement in the eyes of most taxing authorities…

TimK,
Director, Consultant
Kolb Productions,

[Todd Terry]

Thanks guys, good advice…

Actually we never ever lease anything (and don’t intend to)… except vehicles. We’ve found it makes good sense for vehicles, and little sense for anything else… at least in our shop.

And yes, we have a good CPA who has been with us for more than a decade that always chimes in with good advice about that kind of stuff.

I’ll need to explore this more, maybe there are some options. We got this vehicle (and several others) from a dealer that is one of our clients. While they own several dealerships throughout the southeast, last year they sold the one here in our city. We will probably travel to do a shoot with them at one of their other stores before our lease is up, and I will have the opportunity to ask the owner himself “Hey, what’s the deal?” I did want to hear from the group what some other options might be.

And just for the record, Steve… I am not a Chrysler fan by any stretch… but I do like Jeeps, and I have to say that over the last 10+ years I’ve never had one lick of trouble with any of them, but maybe I’m the exception to the rule (and just as an aside, notice you never hear a cute girl at the beach say “Hey man, cool Toyota“). Speaking of parts falling off….. aren’t you a Harley guy? Haaa…just kidding.

T2

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Todd Terry
Creative Director
Fantastic Plastic Entertainment, Inc.
fantasticplastic.com