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Re: Which is better:a lease or a loan?


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Posted by pcrh on November 29, 2017 at 18:40:22 from (209.202.2.109):

In Reply to: Which is better:a lease or a loan? posted by TomGresh01 on November 28, 2017 at 01:40:18:

Both will have their advantages and a lot will depend on your personal situation.

Lease payments are fully deductible but with loans your interest and depreciation are tax deductible. Also the tax is part of your total cost and is therefore deductible.

Lease companies usually allow for normal wear and tear and then charge you at the end of the ease for extra wear and tear. When you own the unit your wear and tear can be whatever you are comfortable with.

Lease companies are not there to save you money, they are there to make money. In the long run lease will cost more than owning outright.

Treat the above as general comments and seek local help from a financial person for your area to get some information pertinent to your situation.


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