When the end of the year approaches, many business owners look for ways to maximize tax savings. One strategy that often comes up is taking advantage of Section 179 of the IRS Tax Code. This provision allows businesses to deduct the full purchase price of qualifying vehicles and equipment placed into service during the tax year.
While Section 179 is often associated with trucks and vans, certain luxury and exotic SUVs can also qualify: making it an attractive option if you’ve been considering adding an exotic vehicle to your garage that also serves as a business asset.
What Is Section 179?
Section 179 allows businesses to deduct up to the full purchase price of qualifying equipment, including vehicles, in the year they are purchased and put into service. Instead of depreciating the vehicle over several years, you may be able to write off the cost immediately.
The IRS sets specific guidelines, but one of the key factors is Gross Vehicle Weight Rating (GVWR). Passenger vehicles under 6,000 lbs. are limited in their deduction amount, but SUVs and certain larger vehicles with a GVWR above 6,000 lbs. may qualify for the full deduction.
Exotic and Luxury SUVs That May Qualify
Here are a few high-performance SUVs in the Boardwalk Auto Group lineup that could potentially qualify under Section 179:
- Lamborghini Urus – With a GVWR above 6,000 lbs., the Urus combines supercar performance with SUV practicality.
- Bentley Bentayga – A refined ultra-luxury SUV that qualifies in certain trims and configurations.
- Maserati Levante – Select models meet the weight requirement while offering Italian style and all-weather capability.
- Ferrari Purosangue – Ferrari’s first SUV, designed with four doors and practicality while still delivering Maranello DNA.
- Range Rover & Range Rover Sport – Known for luxury and off-road prowess, most configurations meet Section 179 requirements.
- Mercedes-Benz G-Class (G-Wagon) – A popular choice among business owners who want rugged capability with unmatched presence.
Who Can Benefit?
Business owners who use their exotic or luxury SUV for work purposes can take advantage of this tax incentive. That includes entrepreneurs, real estate professionals, executives, and anyone who legitimately uses the vehicle in their trade or business.
Keep in mind: the vehicle must be used more than 50% for business to qualify, and the deduction amount can vary depending on IRS guidelines and your tax situation.
Why Act Before Year-End?
Section 179 deductions apply to vehicles purchased and placed in service by December 31st. If you’ve been considering an exotic SUV, acting before year-end can maximize your benefits while giving you immediate access to your new vehicle.
Final Thoughts
Buying an exotic SUV isn’t just about performance, luxury, or status—it can also be a smart financial move when paired with Section 179 tax savings. If you’re a business owner, now is the perfect time to explore your options.
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Boardwalk Auto Group can help you find the right exotic SUV that fits both your lifestyle and your business needs.
Important Disclaimer: This article is for informational purposes only and should not be taken as tax advice. Always consult with your tax professional or CPA to determine eligibility and specific deductions for your situation.