lease or buy tagged posts

Purchase or Lease a New Car?

Lease or Buy a New Car?

My previous article, Buying a Car: New or Used?, addressed the most common factors which should be considered when deciding whether to buy new or used. For those who decide to acquire a new vehicle, this article explores the main distinguishing factors between purchasing and leasing. So, Purchase or lease?

Business Use

If you are acquiring a new vehicle for business use, it is often preferable to lease. This is because the entire annual leasing cost can be claimed as an expense for income tax purposes, up to a specified limit.

If you purchase a vehicle, the expense you claim for income tax p...

Read More