Our Nissan dealership near Burnsville, MN, is here to help you buy or lease a new Nissan commercial vehicle for your small business. If you’re interested in expanding your fleet of vehicles with Nissan trucks and vans, you can save by taking advantage of the Section 179 tax incentive.
The Section 179 tax code was designed to help small businesses invest in themselves. By writing off up to the full purchase price of a new or pre-owned Nissan, you can expand your business and save when you file your taxes. Or, look into your TRAC lease options to finance a new Frontier or Titan. Learn more about the Section 179 tax plan and TRAC leasing, then schedule a test-drive at our Nissan dealership near Burnsville, MN.
To qualify for the Section 179 tax incentive, the vehicle you buy must be used for business purposes more than 50% of the time and be placed into service by end of day on December 31, 2018. The vehicle can be new, used or Certified Pre-Owned. What matters is that it’s new to you!
The Section 179 tax deduction and Bonus Depreciation is limited to $11,160 for cars and $11,560 for trucks and vans. Other exceptions to the Section 179 tax deduction can include:
A terminal rental adjustment clause lease (TRAC Lease) allows you to purchase the vehicle at the end of the lease at a pre-determined residual that’s agreed to at the start of the lease. Your monthly payments are based on this residual and can be adjusted if you’d like a higher end-of-term residual with lower monthly payments or the reverse. At the end of the TRAC lease term you can either buy the vehicle at the pre-established amount, trade it in for something new, finance the remaining cost or return the vehicle to the bank. The benefits of a TRAC lease include having a pre-established purchase option and the ability to have lower monthly payments.