Does Car Leasing make sense?
Since buying our RV lot in Florida, my wife and I will be snow birding for 6 months next year. We will use our fifth wheel. But do need a car for the winter months. As an alternative to our big die...
Forum Discussion
Retired after 42 years in the Finance/Leasing industry.
Math: lease payment + taxes on lease payments + return conditions + insurance cost/issues + possible extra conditions(no long term storage, out of state issues) = no asset/car at the end of term. Unless your tax accountant can advise you that you can benefit from an Operating Lease it is likely not beneficial. Be aware of Capital or Finance Leases as many areas will not recognize any tax advantages, again your tax account can direct you. My first option would be i) purchase ii)use what you already own, if you can Iii)short term rental. my 2c (cash) worth.
GPG
Math: lease payment + taxes on lease payments + return conditions + insurance cost/issues + possible extra conditions(no long term storage, out of state issues) = no asset/car at the end of term. Unless your tax accountant can advise you that you can benefit from an Operating Lease it is likely not beneficial. Be aware of Capital or Finance Leases as many areas will not recognize any tax advantages, again your tax account can direct you. My first option would be i) purchase ii)use what you already own, if you can Iii)short term rental. my 2c (cash) worth.
GPG
