@@mrnohax5436 I’m not entirely sure what you mean but from a business perspective it’s a clever way to increase deductions. Typically most business owners can only depreciate their assets, which depending on the asset, can be limited. By leasing it, he’s going to be able to deduct much more because he’s expensing it instead of capitalizing/depreciating. There are less limitations and he’s able to deduct closer to the actual payment amounts than if he did a typical finance which would force him to capitalize.
@@mrnohax5436 pretty sure leasing from a bank is the same as picking up credit. You as a credit user have the job of paying the banks credit back in equal amounts each month (depending on the interest rate). Its the same thing with leasing, except you don't get credit but basically borrow a car under the agreement to pay it each month in an equal amount to the bank. By the end of the lease, the contracts states that you have the full right to buy the car off the bank completely (at a cheaper price) or sell it (I think).
Investing in a luxury supercar can be an exciting but intricate financial decision. The value of these cars can appreciate over time, making them potential assets. However, maintenance costs and depreciation should be considered.
Absolutely, It's not just about owning a beautiful car but also understanding the market trends. Consulting a car investment specialist or a financial advisor with expertise in alternative investments can help navigate the complexities and ensure you make informed decisions.
I couldn't agree more. In my case, I've been eyeing a Lamborghini Aventador as a passion investment. With my current financial standing, I'm contemplating whether it's a wise move. Any advice on how to approach this decision?
That sounds like an incredible choice! I'm intrigued as well and considering a similar move. Perhaps we should seek advice from a specialist in luxury car investments. Do you have any recommendations?
probsbly made that from this one video. same video pattern from this guy. buys car, hypes it up, takes delivery, shows car, says its a lot of money, trades for new car, repeats.
@@keller8821nah 0 chance he made more than 20k let alone 35k from this one video. a good performing 2 million views video would make around 10k excluding sponsorships
Ed Bolion talked about this once. Imagine five guys driving Aventadors to a car meet. One rented it, One owns it, One, finances, it, One leases it, and One borrowed it. In the end, they are all enjoying the hobby in their own way.
If you get hate for leasing, it’s because the haters are not able to comprehend the value of leasing the car. You’re an absolute inspiration to everyone, James.
He’s broke. His past 100 vids have sucked. He’s not the same Strad, he’s gotten to bouji. He needs to grow up, speak and act like a man! Kid gets worked over on everything he pays to have done. Lease a Koenigseeg 🤦🏽♂️🤦🏽♂️🤣🤣🤣🤣🤣
I worked as a finance manager in car dealerships. Leasing is the smartest way to own a car if you have a business. Saves you tons on taxes. Very smart move sir
@@dakadakoperator Leases contribute zero to the principle. To buyout would be like walking into a dealer and buying a used car. Besides the guy doesn't even have a title, how does that make the car his? He is borrowing the car by paying for depreciation to the lease company it's as simple as that. The guy is still successful.
You don't own a lease. It's a lease. LOL. Of course a finance manager at a car stealership will tell you that leasing is smart. Reality check. It isn't!
This is what I love about you Strad. Your honesty. I think it makes the channel a lot better because normal people can get involved and we’ve all watched you grow so much. I lost my Dad a couple of months ago so the video with your Dad is just like next level now. Can’t wait to see the truck once it’s done. Happy 2024 Strad! Lee from Yorkshire
The fact that you took the time to explain the intricacies behind the financials around this purchase is amazing in its self. Stay dedicated to your craft and keep it up. Congratulations Brotha!
Came here to post this. And not only is he transparent, but his honesty is also teaching his audience small tidbits that could cause them to look into whether or not they could benefit from similar situations. Huge respect. And also - if anyone can hate on this, they aren’t listening to him - he literally got his dream car, got a tax advantage, and made it work so he can keep living the dream…. While he is transparent, he is not dodging taxes - and he will probably have a big tax expense in the future, but he’s playing the fair game and is planning for it.
it's been amazing watching this man grow and improve over the years even though I don't know him irl I'm so proud of him we love you Stradman congratulations 🎉🎉🎉🎉🎉
Don’t matter what the haters say, lease or not that car is yours. You’ve worked very hard for so many years, you deserve this. See you in the new year boss!
end of the day they just buthurt as he technically as payments and fomalities are concerned the car belongs to him at the end of the day they hating because he now has like a 4-5 mil hypercar which they dont have
@@abgamers2861 He's paying for the car monthly and it isn't truly his possession until he completely pays it off. It is technically a property of the bank/leasing company until then. At least that's how it works where I live.
@@tajemna99no leasing in this case is just like renting the car. James doesn't and never will truly own the car unless he decides to take outright ownership. It's super cool though seeing how far he's come though
So happy for you dude! I'm sure you made those guys day by showing the car and revving it! That so fun! I'm from Ängelholm, Sweden and it really gets me going every time I see the cars out and about in town! Have fun!
Absolutely love this car and the stories/adventures you will be sharing. We are all living in proxy for stuff like this. These cars are so insanely rare. Bravo!!
Having a $35,000 monthly payment for a car is is mind blowing, glad you're able to write it off on your taxes. Congratulations on your first Koenigsegg! 🎉🎉
@@Shlnigamiiyeah.. but he’s still one of the most hard working people you’ll come across on the platform. It’s not like he sits inside and does nothing while getting paid
Hey stradman, I’ve watched your content ever since I was 8 and I’ve loved your content ever since, it has been wonderful and i am very happy and glad to see how far you made it in life. Continue what you’re doing man! ❤
Hey, love your RU-vid Blog. Thanks for the Financial knowledge. I'm almost 70 and I've Just LEARNED A WHOLE LOT MORE! Keep Up the GOOD Work. Tell All The Haters to GET BACK...GOD BLESS!
after working for a while at koenigsegg, the one thing that i kept on hearing is that theres alot of customers that waste the cars life on letting it sit while we legit test them to the max to make sure our customers gets the best out of the car. thank you for showing people how to properly use a koenigsegg
Thank you for sharing. That has always been my dream car. You taught me some game. Thank you. Been following you since the Gallardo day. You are inspiration.God bless you. Happy New Year 🎊
I live about 2 blocks away from the Stradman’s house in Utah. Whenever I take my kids to the park or baseball diamond near him I must admit I pull down into his circle in hopes to catch a glimpse of his cars. I am happy to say we saw the Koeniggsegg. I also got to see his Veyron last year. One day I’ll muster the courage to say hello! Our neighbors that have met him have only good things to say.
I'm sure he appreciates you respecting his privacy and not swinging by his home. Seems like he does so many meetups that your paths will cross over time.
@@randomdude4304It’s not really hate, people should just respect other people’s privacy. This is kind of a different situation though considering they’re neighbors lol
As a finance and accounting student. I can’t thank you enough for being so financially transparent it truly helps us think about buying not just cars but anything in a financially smart way!
I'm also an Accounting major who is currently a Freshman at a University. There are a lot of things from this video that I learned about that will come in handy for my future classes and exams! Strad is not only an automotive RU-vidr who was an Accountant in the past life, but he is also a teacher.
Do not think he’s going to be able to write off the lease on his taxes. 432k a year to borrow a car you use in a couple of RU-vid videos is not a business expense. There are limitations and there’s nothing ordinary about this. The rules on writing off a lease are complicated, but none of them allow for this. As you continue your studies, hopefully they’ll teach you some tax law. This is scammy bad advice tiktok has peddled and it will get you in trouble.
@@safersephiroth943 Noted. Maybe there is something he is hiding behind the scenes. For the record, I don't even use TikTok, nor have an account on it because of the stupidity and propaganda behind the platform. I took everything from this video, but there is a very good chance you are right. Strad's financial institution may very well be bending the rules even though he says that the tax advantages are provided according to law. My University definitely teaches tax law for a fact in the upper years as I heard about it. The University I attend has a 82% CPA exam pass rate, which places the school 3rd in my state. I'll definitely understand all of this once I have more experience in my studies. I just completed my first semester in college, so I still have a long way to go.
What you think and what is fact are two different things. He’s abiding completely by the tax code he’ll use this car to make tons of videos which will make it a tax write off (not entirely)
@@michaelmojica3601 nope. Not true. Learn the tax code. A lease can only be deducted under certain circumstances and making videos is not one. And you cannot deduct his. It’s far too high.
Hey man. Its awesome to be owning such a car like this. The color looks amazing in my opinion. You are fulfilling a huge goal! Good job with the Agera HH!
As a fellow finance & accounting person, I applaud the way you and your accountant worked through the financial implications of leasing vs buying the Koenigsegg. It was a smart move that will save a lot in taxes. Hopefully you also have a buyout option and a set residual value in the agreement to eliminate any potential issues when you reach that point. Congrats!
Appreciate the honesty in the video. I’m all for leasing if the numbers make sense. This must have been written to essentially be financing but with monthly taxes. Car is worth 2m, assuming 35k includes tax, he’s paying 32k a month pre-tax, or 1.5m over 4 years. Even assuming an insane like .004 money factor, that still would mean 1m paid toward the car, which would assume a 1m residual value. Assume the car stays worth 2m, he is paying 2.5m for a 2m dollar car, and can take a tax deduction of 1.5m over those 4 years. Assuming 10% sales tax, he would have paid 200k in tax to buy the car for 2m, so he’s putting 300k on top to lease. 1.5m of deductions would give…550 of tax relief assuming a 35% effective tax rate? So 300 grand incremental paid over 4 years to save 200 grand. Or it’s structure just to allow tax write of, with residual effectively zero. 500k down, 1.5m over 4 years, 250k residual or something like that. That could make sense as well.
Proud of you James been watching for about 5 years and it's awesome to see how far you've come! Also I think the color is sick dude. No one has a Koenigsegg that color
Totally makes sense to do it that way, and when the lease ends you can buy the car to keep forever. awesome car james congrats. so glad to see you achieve this goal. Looking forward to a bunch of crazy videos with the Agera!
It doesn't matter how you got it. What matters is that you're pursuing YOUR dreams. The haters need to spend less time worrying about your ambitions and focus their attention on theirs. Congrats, my guy!
He’s proven time and time again that he doesn’t make the best financial decisions. Look at the house. It’s not even close to being finished yet here he is paying a $35k lease
@@lmpactic Except he won't be legally able to write off that much as such an expense. If he writes off 35k a month for a car as a business expense he is going to get a pretty big audit from the taxman.
It's really fascinating how strad ignores haters and works his way up. Strad, you have been an inspiration for so many and I'm one of them. Somebody oneday, I will also have a huge car collection and of course, a Koenigsegg. Your videos never fail to motivate. Thank you strad and keep inspiring us!! ❤
What I love is this comment section is always one of the most supportive and wholesome places on the Internet. It’s just incredible the community that he’s been able to foster, love you all ❤️ it always makes me want to watch as it’s all just so happy! And strad is always so detailed about the finances too, so interesting!
Stradman thank you for being so open and upfront with all of us. Congrats man. It’s your car bro. You do what ever you want and get the vids comming bro.
As an experienced tax CPA , you did a very good job at explaining this in layman’s terms. I agree with you, in ur scenario it makes much more sense to lease vs buy it in cash. Kudos to you and your accountant for thinking in advance.
It’s a shame he thinks he can write this off. There’s no way the irs is going to accept a 430k write off for a car used in a couple of RU-vid videos. A lot of tax law ignorance is around here. Need more cpas speaking out against it before they find themselves in the middle of an audit with a massive tax bill compounding with interest and late penalties.
@@safersephiroth943 ok genius. His business is making content the car is content. Making money then it’s a write off. Same as a construction company having a 2 million dollar bulldozer. All my vehicles are leased other than my truck that’s over 6k pounds they’re all write offs. I take it you don’t have a business LLC or have even leased a vehicle in your life. Take your w2 and do your basic turbo tax refund and cry. Maybe watch one the 1000s of RU-vid videos explaining this to you on your lunch break and get educated on all the things you can write off as business expenses. 😂
@@1936chevypu comparing a passenger vehicle to construction equipment is where you done fucked up a a Ron. They’re not the same thing in the tax code or reality.
From a business standpoint leasing is the way to go. I work for a company that leases all their vehicles over a fixed term then buys them out when the term is done. Proud of you strad. More DDE colabs in the future please.
@@paisano316that's what I want to know. It wouldn't make sense to pay millions in lease payments over the years only to pay the value of the car (5mil) to buy it out after leasing term has finished.
As a business owner, we definitely look at things in a different light than someone who has a 9 to 5 job everyday and has no write offs. Good call James.
It’s a shame this isn’t a legitimate write off. Oh wait. It’s not a shame. It’s common sense. No way in hell he’s going to be able to write off almost half a mil a year on a damn car. The irs will not accept it.
Leasing for business expenses basically opens a door to new possibilities. Now I can’t wait to see what other cars or hypercars you’re going to get in the future without having to sacrifice the Agera
I hope I speak for all of us long time fans when I say; We’ve been waiting for this day for so long. We knew you’d get there Strad. I remember when I found you, your first video in the first Lambo. What a wild ride of up and downs, true transparency. We appreciate you being a real one.
Thanks for being so open about the finances. It's obvious that one of the reasons you've been so successful is that you've managed the business side of things extremely well.
New follower! Love your energy man. Congrats on the car. You deserve it. Seems like I need to open a business and lease luxury vehicles as company cars for the tax advantage. I learned something today thanks to your video. Keep up the great work and content
I'm an OG subscriber, and I'm not using that term loosely. Been here since 2015, and it's been joyful following your journey. I remember people criticizing and giving you a hard time for financing the Gallardo, and look where you are now. I expect that most of those people, these armchair experts, are still living the same mundane lives they lived back in 2015 - so much for that expertize. I think you still are perfectly able to make the most sound economically decisions for you and your business.
i love how transparent hes always been, i remember watching the videos where he would break down step by step how much his gallardo had cost him after 6 months, 1 year, etc etc
I think I was a pre 10k sub. I could tell this kid had the drive and passion along with the personality that would click with everyone. I do miss the ski box though.
shout out to you guys in the comment section. it’s good to see everybody spreading positiveness and also congrats to stradman for building the best fan base in the history of youtube, in my opinion. love u all.
I don't know how anyone could hate on someone who can afford to pay $35k per month to lease their car, quite amazing! Congratulations on your success 🥳 I have been subscribed to your channel when you had about 100k subscribers pretty amazing to see the growth you have had!
Having money doesn’t somehow make you above being able to be criticized. That’s ridiculous. But James doesn’t deserve criticism for leasing the car. Sounds like it’s the best option for him which is all that matters in this situation
@@INDIANBEA5T he doesn’t own the car. Any increase in value he doesn’t earn unless he buys the car outright. The guy has worked hard so props to him but he is a financial disaster.
@@JamesJones-gj1ii You can still purchase a car that's leased, which he has stated in this/his previous video is his intent as of now. In a way, you can compare the end picture to something like traditional financing, the main difference is how long you'll be making the payments on the car. If he doesn't want to compromise cash flow, paying over time is a superior decision, as buying it outright immediately could put him in a worse-off position if some other huge expense follows closely after.
I don't think I've ever smiled as much as I have been watching this video! Congratulations, I remember when you got your Aventador and got those white rims haha
Saw you yesterday and I WANTED to turn around and get a better look but I couldn't do it safely! I was sad the entire day! First time ever seeing one of my favorite cars in person. I hope you bring her out to an event that we can all come by and see her in person!
Honestly, the biggest shocker I have had was a meeting with my accountant that told me to not buy a car cash, and to finance it through the business. Saved me thousands, and when I have attended car meets and people have always said stuff like "the bank owns your car" I just laugh it off. Anyone has the potential to make money and effectively become rich, but the ones that stay rich are the ones that are smart with money. Look at the majority of lottery winners, they end up broke after a few years.
Amen. Whoever didn't work his butt of for the money he/she ownes they don't know to respect it. Respecting it leada to smart spending leads to having even more.
Good portion of lottery winners become broke because of there mindset definitely. Spend fk ton asap and flaunt with the best shit without proper investments.
@@TruthHunter635or paying it fast 😅 i mean you can take the money else we're and make it double then pay the car every month instead of pay it in cash
I don't believe that statistic at all, I have two friends that won the lottery years ago and they very much still have their money. I know several pro athletes also and they have their money too. Maybe in the old days this used to happen but much less so now.
Been watching this man from I was 8 years old I'm now 17 seeing this make me so emotional from stupid Audi R8 with a ski box on top to a koenigsegg is so crazy.
The fact you can pay $36k per month is baller man….. write off or not, you have come a long way and nobody cares whether you paid cash or not. The most important thing is that you’ve got your house, health, friends and family……. You look after those four things by keeping what you are doing and Mr Stradman Sir, you will continue to be the king of automotive RU-vid . Peace
the way he pays 36k a month right, later on down the line when he wants to buy the car does that mean strad will still have to pay the full price of the koniggsegg or is it minus the amount he has already paid in monthly instalments for the leasing
@@colmohare4308 He would have to pay full price. He is renting/leasing. Just like if you rent a house for 5 years from the owner of the house, you can't deduct those rent payments you made if you want to buy it. And the owner/bank can set any price they want for a full purchase.
As a 54 year old, and making my second attempt at a side business while working a day job, your financial wisdom is appreciated. You and the DDE boys are insparational. Keep up the good work!
that specific koenigsegg has been my dream car for years and years its nice to see one being driven for fun and the happiness hes getting from it, very wholesome
Massive congrats on the egg, it's crazy to see where you started and where you are now, the journey is the most important part and the outcome is very well deserved. Everyone starts somewhere and its up to you to paint your success. Again Massive CONGRATS STRADMAN
That’s why James has been so successful and continues to be. What a smart financial decision instead of jumping right into the purchase, playing the long game 👌🏻 what a beautiful car! So glad you didn’t let it get away!
You made the right decision. Leasing that car is the right way to do it. Way to go James… I’ve been following you since you first got the Gallardo. I don’t recall exactly how many subs then, but I want to say it was between 20-30k. You’ve come sooo far in that very short time! Hard, persistent work, has really paid off. Don’t change anything. Keep fueling the haters and keep blasting into the stratosphere! One day, you’ll have another Bugatti, a Centenario, AND the Koenigsegg. 🎉
I love how u always tell us about the financial figures and never lie to us. Keep it up man, u deserve it. It's been a long road for u,I'm glad it's all paying off ❤️
Bro, I love you man. (No homo). The energy, the transparency, the work ethic. YOU are a real car guy, a good man and a one hell of a content creator. Thanks for all the good vibes my guys! Happy New Year!
why did you have to mention the ”(no homo)” 💀 love doesn’t mean sexual attraction. Or am I wrong? Do you have to say ”no incest” everytime you tell your family members that you love them?🤣
Been watching for 6 years now literally a third of my life and your the only youtuber I watch every video of. I'm so happy you finally got the Agera congrats James !!
