Quote:
Originally Posted by ztik
I always pay cash for cars.
Why pay interest in you don't have too?
Although I don't buy a fucking car planning to go bankrupt like a fat retard
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This is how it works here and in the UKfor companies.
If running a company and you pay outright for it, the money comes out of the profits which are taxed. It then becomes an asset of the company and the company pays taxes on it.
If you lease rent the car al payments are tax deductible and at the end of the lease period the company pays for it with a nominal sum.
Not sure how it works in the US or Canada. And as a recent bankrupt there might be questions of where the money suddenly appeared. On the other hand it's tough to a loan or lease as a bankrupt.