• Last Updated:
  • Nov 5th, 2017 8:36 pm
[OP]
Newbie
Jan 22, 2017
57 posts
13 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
5916 posts
879 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
26951 posts
3280 upvotes
East Gwillimbury
Definitely check with your accountant. But, I would suggest leasing to maximize the savings.
Deal Fanatic
Aug 29, 2006
7002 posts
1106 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
25 posts
12 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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