
Defender 110¹100% Depreciation $51,500 |
Luxury Car²32% Depreciation $16,500 |
In 2017, the IRS made some changes to help businesses. The Tax Cuts and Jobs Act (TCJA) temporarily allowed 100% expensing for business property acquired and placed in service after September 27, 2017. The 100% first-year bonus depreciation ended on December 31, 2022, being phased out through 20% per year decreases, expiring on January 1, 2027.
Because Range Rover, Range Rover Sport, Discovery, and Defender models have Gross Vehicle Weight Ratings (GVWR) greater than 6,000 pounds,** they can be fully depreciated in the first year of ownership when used 100% of the time for business. That’s a significant advantage compared to a similarly priced luxury car.
Make the most of an accelerated tax depreciation schedule* before the year is out by purchasing a new Range Rover, Range Rover Sport, Discovery, or Defender model from Land Rover Hinsdale.
These comparisons illustrate the tax depreciation advantages for business owners who purchase a new Range Rover, Range Rover Sport, Discovery or Defender before December 31, 2023.† Please consult your tax advisor to determine how this information can be applied to your individual business situation.
Land Rover Hinsdale
336 EAST OGDEN AVENUE, Hinsdale, IL 60521
(844) 746-7938
Range Rover¹
100%
Depreciation
$93,800
|
Luxury Car² |
Range Rover Sport¹100% Depreciation $70,900 |
Luxury Car²26% |
VIEW RANGE ROVER SPORT INVENTORY
Discovery¹ 100% Depreciation $55,000 |
Luxury Car³32% Depreciation $17,180 |
Defender 110¹100% Depreciation $51,500 |
Luxury Car²32% Depreciation $16,500 |
Individual tax situations may vary. Information accurate at time of publication. Federal rules and tax guidelines are subject to change. Consult your tax adviser for complete details on rules applicable to your business.
**The Range Rover. Range Rover Sport, Land Rover Discovery. Land Rover Defender 90 and Land Rover Defender 110 have gross vehicle weight ratings (GVWR) greater than 6,000 pounds and are classified as heavy SUVs. As such, these vehicles can be fully depreciated in the first year of ownership when used for business 100% of the time. GVWR is the manufacturer’s rating of the vehicle’s maximum weight when fully loaded with people and cargo. See your local authorized Land Rover Retailer for details.
† Comparisons based on Sections 179 and 168(k) of the Internal Revenue Code, which allow for additional first year depreciation for eligible vehicles and reflect figures for owners who purchase vehicles for 100% business
† Price comparison figures are calculated using the Base Manufacturer’s Suggested Retail Price for the 2022 Range Rover Standard Wheelbase, 2022 Range Rover Sport SE, 2022 land Rover Discovery 2.0L S, 2022 Defender 90 Base and 2022 Defender 110 Base. Price excludes $1,350 destination/handling charge, tax, title, license, and retailer fees, all due at signing, and optional equipment.
Vehicles can be New and Certified Pre-Owned.
1. Range Rover, Range Rover Sport, Land Rover Discovery, Land Rover Defender 90 and Land Rover Defender 110 are fully depreciated in year one.
2. Luxury car depreciation can continue year two at $16,400, year three at $9,800 and $5,860 per year for each succeeding year until the vehicle is fully depreciated or sold.
3. Luxury car depreciation can continue year two at $14,688, year three at $8,813 and $5,288 per year for each succeeding year until the vehicle is fully depreciated or sold.
4. Luxury car depreciation can continue year two at $13,024, year three at $7,814 and $4,689 per year for each succeeding year until the vehicle is fully depreciated or sold.
5. Luxury car depreciation can continue year two at $13,600, year three at $8,160 and $4,896 per year for each succeeding year until the vehicle is fully depreciated or sold.