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Are you in the market for a new vehicle right now? Most of my clients asked me whether they should buy vs. lease a vehicle. It isn’t an easy answer. It goes back to many different factors including: · Interest rate on lease vs. finance · Purchase price under lease vs finance vs cash purchase · Maintenance cost of the vehicle · Your preference – do you want a new car every few years? · Can you write off any of the vehicle expense? · How well does your vehicle maintain its value? In today’s video, we’re going to use life data from Honda.ca to analyze if a taxpayer should purchase or lease a vehicle. You will get to see: · Difference between tax write off on buying vs. leasing · True after-tax cost calculation between buying vs. leasing with 4 year analysis vs. 8 year analysis · How to use Lease First and Purchase After to maximize your tax deduction Remember, every vehicle is different and you should analyze based on your particular deal. #buyorlease #carpayment #buyorleaseacar #buyvsleaseacar #tax deduction on your car