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      02-28-2008, 02:18 AM   #141
gblansten
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Drives: 2011 BMW M3 SSII/Black
Join Date: Sep 2007
Location: Thick ascending limb

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Quote:
Originally Posted by Ronno111 View Post
I am not sure how the AMT comes into play here. I use the vehicle as a business deduction, always have and always will. AMT should not play into this scenario if you have the income to handle the deductions.

Hans, if you do it right and know what you are doing, you are not taking a risk. The HELOC rates are far superior to BMWFS. Why get roped into a 7.9% rate over 3 years when I can better that by 3 points and use the cars equity to settle the loan in 3 years. I'm not moving or selling my home any time soon. As the fed lowers the rate to spark the economy, I will enjoy the low rate and my M3 a little bit more
I hope that none of you get hit by the AMT. It was just a consideration for someone who lives in a high local and state tax location with an eye for added interest deductions.
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