💰Buying a car allows you to own an asset that can appreciate in value over time.
🏎️Leasing a car gives you lower monthly payments and the ability to drive new, reliable models.
🔢Comparing the total spend over the ownership life cycle reveals that buying is often more cost-effective than leasing.
🧾Leasing provides tax deductions for businesses, including depreciation and financing costs.
⚖️Consider your mileage needs and flexibility requirements when deciding between buying and leasing.
Which option is cheaper in terms of monthly payments?
—Leasing offers lower monthly payments, while buying may require higher payments or financing costs.
Does leasing allow for tax deductions?
—Yes, businesses can deduct depreciation and financing costs when leasing cars.
What happens at the end of a lease term?
—At the end of a lease term, you can choose to return the car, purchase it, or lease a new one.
Can I negotiate the buyout price of a leased car?
—In some cases, you may be able to negotiate the buyout price of a leased car with the leasing company.
Is it possible to lease a used car?
—Yes, some dealerships offer lease options for used cars.
00:00Should you buy or lease a car? This video provides a comprehensive financial comparison.
02:56Leasing offers lower monthly payments, while buying allows you to own an appreciating asset.
07:46Contrary to popular belief, buying a car can be more cost-effective than leasing when considering the total spend over the ownership life cycle.
08:19Consider your financial goals and the long-term costs before deciding on buying or leasing a car.
09:53By prioritizing your financial freedom, you can make smarter car purchasing decisions.
