Hi All,

Probably a long shot..but however, I was trying to relate my buying a car to the tax savings that comes along with buying a house with the help of a housing loan?

Is it similar that when a car is bought under some kind of a finance scheme, I can get some money back at the end of the year?

Yea/Nea?

Thanks!

Hello,
I am not sure whether you would get some money back if you buy a car in a finance scheme. Normally all car dealers have a concept called MwSt.Ausweisbar, which is applicable only on CAR's used for official purposes.
Otherwise if you buy it for private use you dont get such tax allowances. But you should better check it with a authorised Tax Consultant.

But on the other hand, buying property gives you some tax discounts when you make your declaration every year.

If I am wrong, correct me!!!!!

AFAIK hardly possible, perhaps if you would be able to show that you need your car for doing your job, and that you are using it 100% for that purpose. What you can get are 30 cents per km which you drive to work, but you can claim this regardles if you go by car, foot, bike, bus or train. Also under some circumstances it is possible to claim repair, and insurance costs.

@ Chandra + Cedomir,

Thanks for your response. I shall send out a query to my Tax consultant and will post the response here, so that the same doubt isn't expressed by someone else

@Chandra

BTW, I had responded to the "Car Insurance in Germany" thread asking about the final insurance company and class you ended up with. Could you reply to that please?

Thanks and have a pleasant evening.