Should You Lease Or Buy A Luxury Car

That s because the irs allows you to deduct both the depreciation and the financing costs.

Should you lease or buy a luxury car. Of course with a lease you never own the car outright. For example if you need an upscale car for business perhaps to entertain. That s because dealers of luxury cars are offering lower leasing payments that make their vehicles much more attainable. At the end of the lease you basically have two choices turn the car in or buy it out.

Because the rate of depreciation tends to flatten out as vehicles get older leasing a used car can be a spectacular deal. We say that the decision to lease or buy usually comes down to your lifestyle and how you prefer to pay for things. If you use your car for business purposes a lease will often afford you more tax write offs than a loan. In fact a better lease deal can often be obtained by leasing a high residual luxury car than by leasing a car with a lower residual value even though the price of the luxury car may be greater.

Being money wise is a typical characteristic of high end car leasers.