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re: Bad credit auto loan with big down payment?
Posted on 2/26/14 at 12:16 am to Teddy Ruxpin
Posted on 2/26/14 at 12:16 am to Teddy Ruxpin
quote:
Why in the frick don't you wait until May then? I'm getting pissed off that you make more money than me.
For one I don't have a vehicle at all right now and don't want to buy one now and pay tt&l just to buy another in a couple of months and pay tt&l again on a new one for taxes. I will for sure pay it off quick. Part of the reason for getting it is to build my credit to build a house.
Lol I've put in hard work and been in the right place at the right time.
1
Posted on 2/26/14 at 12:18 am to DanielTosh
And I just looked, you can only depreciate $11,600/yr on the vehicle.
So you're better off buying a 15k used vehicle and depreciating the $3000 or so a year that the IRS allows.
But you shouldn't be able to do both since you are receiving a mileage reimbursement for business use above the federal level.
So you're better off buying a 15k used vehicle and depreciating the $3000 or so a year that the IRS allows.
But you shouldn't be able to do both since you are receiving a mileage reimbursement for business use above the federal level.
This post was edited on 2/26/14 at 12:20 am
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