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 aftertax 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.

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