• Last Updated:
  • Nov 5th, 2017 8:36 pm
[OP]
Newbie
Jan 22, 2017
67 posts
14 upvotes

Car ownership vs leasing

I am a very small business owner. I am in the market to buy a new car, which will be used for both business and pleasure.

Is it better to buy a new one or lease it. In which case I can maximize the write off.

Thanks
5 replies
Deal Fanatic
Jun 11, 2005
6111 posts
956 upvotes
Mississauga
membrs wrote:
Oct 23rd, 2017 3:56 pm
I am a very small business owner. I am in the market to buy a new car, which will be used for both business and pleasure.

Is it better to buy a new one or lease it. In which case I can maximize the write off.

Thanks
I don't think it maters buy or lease but I would check with your accountant for the right answer.
Deal Expert
Aug 2, 2004
27966 posts
3690 upvotes
East Gwillimbury
Definitely check with your accountant. But, I would suggest leasing to maximize the savings.
Deal Fanatic
Aug 29, 2006
7211 posts
1208 upvotes
Talk to accountant, first they all seem to have different preferences.
The Devil made me buy it - RFD. :twisted:
Newbie
User avatar
Jun 25, 2017
27 posts
14 upvotes
Often, people who choose to lease are also taking in consideration the better cashflow, as you end up with a lower payment.
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