Lease or Buy ? Possible Private Practice Use...

Riddler · 05-03-2008, 11:10 AM

This is going to be my first vehicle purchase, and was wondering peoples thoughts on leasing versing buying here in Canada? I'm 25 and know cars are basically a sunk cost, but some equity might be nice if I can swing the payments. Also, how stringent are dealers on lease turn backs (chips/ wear of car etc), what kind of things do they ding you on? 39 month lease is looking reasonable just was curious peoples experience and what to expect if I do go this route?

Also what does BMW charge for km overages I might be using this car for private business and just trying to calculate some overal costs? I also heard mention on here that under a business you can write off portion of you lease or gas/km mileage? How does this process work, and how would it differ for purchasing your vehicle ? Any quick and dirty info would be great!

warmtoes · 05-03-2008, 11:15 AM

For the most part, the guidelines are that leasing always costs you more in the end compared to buying unless you can write off the entire amount of the lease in your business. There is a long thread about this if you search the forum.

But, if you need to have your money working for you (i.e. a big investment or an investment in the company you work for) then sometimes the lease makes sense because the money you could use to buy the car is making more for you than you are losing.

05-03-2008, 11:10 AM	#1
Riddler Enlisted Member 13 Rep 36 Posts Drives: Join Date: Mar 2008 iTrader: (0)	Lease or Buy ? Possible Private Practice Use... This is going to be my first vehicle purchase, and was wondering peoples thoughts on leasing versing buying here in Canada? I'm 25 and know cars are basically a sunk cost, but some equity might be nice if I can swing the payments. Also, how stringent are dealers on lease turn backs (chips/ wear of car etc), what kind of things do they ding you on? 39 month lease is looking reasonable just was curious peoples experience and what to expect if I do go this route? Also what does BMW charge for km overages I might be using this car for private business and just trying to calculate some overal costs? I also heard mention on here that under a business you can write off portion of you lease or gas/km mileage? How does this process work, and how would it differ for purchasing your vehicle ? Any quick and dirty info would be great!
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05-03-2008, 11:15 AM	#2
warmtoes Lieutenant Colonel 31 Rep 1,917 Posts Drives: EBII 435i xDrive Join Date: Apr 2008 Location: Vancouver iTrader: (1)	For the most part, the guidelines are that leasing always costs you more in the end compared to buying unless you can write off the entire amount of the lease in your business. There is a long thread about this if you search the forum. But, if you need to have your money working for you (i.e. a big investment or an investment in the company you work for) then sometimes the lease makes sense because the money you could use to buy the car is making more for you than you are losing. __________________ *2014 EBII 435i xDrive M-sport* Gone: 2011 TiAg F25 X3 xDrive35i M-sport Gone: 2008 TiAg w/Coral Red E88 135i Cab M-sport
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