We buy the whole car, as you should
Jay is actually giving some real financial advice here. When you lease a car you pay a car payment with nothing to show for it in the end, you just give the car back. Not to mention mileage restrictions.
A car is never an asset or a good investment, but we all need one and buying is a much smarter choice then leasing. At least at the end of your car payment you have something of value that you can trade in , sell, pass down to someone, whatever you’d like to do. In conclusion Leasing cars is one of the most profitable aspects of car dealing and is very one sided as the dealership gets the majority of the benefits in the deal. Jay is pointing this out.
Ask any accountant and they will tell you leasing is the way to go. It’s up to a 100% tax deductible right off especially if you lease through your business. In these days cars lose value so rapidly and only a small portion can be written off on buys. Obviously Jay-Z is explaining that he has illegal drug money so I doubt he pays much in taxes, but the real life Jay-Z could have leased the car instead and written it off through Roc-A-Fella records. Ended up with the tax write off and a new car in 3 years.
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