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Updated about 9 years ago,

User Stats

36
Posts
1
Votes
Alex Ballas
  • Real Estate Professional
  • Philadelphia, PA
1
Votes |
36
Posts

Sell nice car and buy used, or keep as business deduction?

Alex Ballas
  • Real Estate Professional
  • Philadelphia, PA
Posted

Purchased a quadplex, and an looking over finances.

I bought a 2012 Audi A4 new, payments around 500 /mnth.  I still have 20K left.

I am looking at a used 2010 prius for 10K.

Question for the group- should I just keep making payments on the Audi and deduct what I can (about 80% business), or sell and get the Prius in cash and lose the monthly payment?

Thinking strictly financially here, is there any financial benefit to giving up my car?  I have been deducting expenses over the last few years, and it is a nice car, but will i see any cost benefits from buying a used car instead?  It is expensive to maintain, but can I just keep writing off the expenses? 

I am sure there are other who have been in the same position, would appreciate your thoughts.

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