Car lease vs buy
Hey all. I can't think of a more diverse place to look for advice than the group we have here on the forum. So, I would like to present the age old question. What's better for acquiring a daily driver for my wife. Buy or lease.
I have always heard that leasing is a good way to go if you are payment shopping, but you have no asset in the end. After a purchase is paid for, you can sell it and recoup some of the value.
My wife would be using the car for her business (an LLC) driving locally, less that 15k miles per year.
With the current tax laws, we would be able to deduct most of the lease payment (we think). Apparently a purchase would be a deduction of about $1000 less per year.
So, I wonder what the real world experiences are out there. We have looked at this on paper for a few days. The lease rationally looks pretty good, but the irrational part of my brain says "it looks too good to be true...".
Any advice would be appreciated.
2011 PrimeTime Tracer 2600rls
2001 GMC Yukon XL 2500, 6.0L 4.10:1 axle ratio
Nights camping 2014 - 17
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