Vehicle Lease-or-Buy
When you are in the market for a new car one of the most important questions is whether to lease or buy the vehicle. Some things to consider include how long you plan to keep the vehicle, what you use the vehicle for, and how many miles you put on the vehicle. If you like to keep a car for a very short or very long period of time then leasing is … Keep Reading → not the best option. Leasing usually works out best for periods of about 3 years. Much longer or shorter than that and buying is typically a better option. If you use the car for business then leasing often has tax advantages over buying. That’s something to speak with your accountant about. Finally, leasing usually works best for those who don’t put a lot of miles on their car. If you plan to drive more than the typical 12,000 to 15000 miles per year than leasing probably won’t make sense. You may very well get a big bill from the car maker at the end of the lease for the extra miles.
