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i lease cars becoz i can write off my income tax since im self employed
another reason is you pay tax on the car only if you use it, if you finance a car, you pay the entire tax of the car, while you lease it, you pay only when you drive the car, after the lease term ends, whatever remaing (the buy out) isnt taxed and you jsut return the car.
also, i dont consider lease is a like renting a car, the lease payment is kinda like the depreciation of the car, think of this way:
you buy a 2009 tsx for 40k including pdi and all charges now, with tax, 44.8k
after 4 years, the tsx may worth 18k
so you paying 26800 including tax over 4 years
say you lease the same 09 tsx now, with 0 dwon payment, 3.9%, i got a quote of $580 tax in for 48 months, buy out is 16k something, you are paying 27840 over 4 years with interest.
if you finance the same car, you pay say 3k more for interest (maybe more i dunno), so add 3k to 26800 = 29800, over 4 years, with higher monthly payments, and the hassle to sell the car when you want to change
the buyout price is basically what dealer predicts the market price of the car after your lease is over, say you lease a car with a high resale value = lower lease monthly payments, so the lease monthly payments is basically the depreciation of the car, since most cars depreciate anyway
if you want to own the car for a very long time, then buy the car or finance it, if not lease is a good option if you can write off your income tax or you own a company.
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