Buy a Hummer H2 and get an instant $38,000 deduction

rufruf44

Platinum Member
May 8, 2001
2,002
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A Land Cruiser will be of a better value IMHO. You can actually use it for something usefull instead of just showing off.
Note: only apply to Business Owner.
 

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
Originally posted by: Tallgeese
Have to ask the accountants tomorrow at work if this is true...

Ask if you only put 20K down and finance the rest (~35K) if you can still get the full deduction....I know normal depreciation over five years rules still apply...But 38K in one year!!

 

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
I test drove one today for about 2 hours and take back all I ever said about it's being a red headed step child to the H1. It's freken awesome and very comfortable, I was a little disappointed by the fuel mileage of only 12MPG since my truck gets over 20 (diesel) but it's like driving a caddy and nothing is el cheapo GM plastic like so many GMs are.
 

SherEPunjab

Diamond Member
Oct 23, 2002
3,841
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i'm going to talk to my cpa regarding this. SeP may be cruisin in a hummer soon!

will keep you guys posted if it works.

hehe.

 

T2T III

Lifer
Oct 9, 1999
12,899
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I think our government should make a revision -

Now: "Buy a Hummer and get a tax deduction equal to the purchase price."

Should be: "Buy a Hummer and get a Hummer." :Q :Q
 

gopunk

Lifer
Jul 7, 2001
29,239
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Originally posted by: wje
I think our government should make a revision -

Now: "Buy a Hummer and get a tax deduction equal to the purchase price."

Should be: "Buy a Hummer and get a Hummer." :Q :Q

from janet reno!
 

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
the new range rover cost more than that?

?? Whats your point and yes it does plus no deduction other than 5 year maxiums in depreciation which don't even come close to purchase price. The H2 is cheaper than a loaded escalade and about the same as a loaded tahoe or yukon XL but with those you don't get the break it appears...
Plus what americans are you employing buying a RR but a couple of sales weasles.
 

Spac3d

Banned
Jul 3, 2001
6,651
1
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My mom want's a bright Yellow H2. I showed my dad this same article, and we are gonna go test drive em this week:D

I am hoping my mom won' notice if I try to get them to sign off on 24"s for the beast (28"s would be better tho:p):D

Spac3d
 

tcsenter

Lifer
Sep 7, 2001
18,627
394
126
And it takes up two and a half lanes...
Its no bigger than a full-sized passenger van. I saw one in person today and I have to say it made a much better impression on me than it did just seeing photos. I'm not saying that I've become an H2 convert but it wasn't nearly as ugly as I previously thought it was. But the 10MPG, yeah, we can do better than that for crying out loud.

As for the topical nature of the tax deduction, I think it is a "loophole" in every sense of the world and it should be closed. As the article points out, the intent of the exclusion was so that business owners who needed large heavy-duty vehicles like Crew Cab dually pickups or large delivery vans would not be penalized for buying them. If you're just driving yourself around town, as 98% of those buying luxury SUV's for "business purposes" are doing, then a Chevy Cavalier will serve that purpose just as well as a Cadillac Escalade or Hummer H2.

But if you need to haul five men, several hundred pounds of tools or supplies in the bed, and tow a trailer carrying equipment for your business, then you need something more than a Chevy Cavalier and you're not going to use your luxury Hummer H2 or Cadillac Escalade.
 

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
am hoping my mom won' notice if I try to get them to sign off on 24"s for the beast (28"s would be better tho)

rolleye.gif
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rolleye.gif
:confused::frown::cool::frown::confused:
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:confused:

You will "taco" the rims if you ever go off road, the vechile is waaay to heavy for 24's and off-roading plus I might shoot you as a profile violation.:p
 

boyRacer

Lifer
Oct 1, 2001
18,569
0
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Originally posted by: Carbonyl
the new range rover cost more than that?

?? Whats your point and yes it does plus no deduction other than 5 year maxiums in depreciation which don't even come close to purchase price. The H2 is cheaper than a loaded escalade and about the same as a loaded tahoe or yukon XL but with those you don't get the break it appears...
Plus what americans are you employing buying a RR but a couple of sales weasles.

Jesus Christ... it was just an honest question... i didn't know the H2 cost more or less $50k... i thought it cost more and i didn't know the new Range Rover cost so much. Sorry if i went off-topic... :p
 

Spac3d

Banned
Jul 3, 2001
6,651
1
0
Originally posted by: Carbonyl
am hoping my mom won' notice if I try to get them to sign off on 24"s for the beast (28"s would be better tho)

rolleye.gif
:confused::frown::cool::frown::confused:
rolleye.gif
:confused::frown::cool::frown::confused:
rolleye.gif
:confused:

You will "taco" the rims if you ever go off road, the vechile is waaay to heavy for 24's and off-roading plus I might shoot you as a profile violation.:p

It will never ever see off roads:D I don't give a fvck if it goes off road or not. No one cares in my family cares about the mileage or insurance, we just want a nice big SUV.

Spac3d