Leasing Vs Buying A Vehicle – Should I Lease Or Buy My Next Automobile?

2026 · SHOULD I LEASE OR BUY MY NEXT AUTOMOBILE?
Do you like to get a new automobile every few years?Do you drive a significant number of miles each year?Consider leasing your next automobile.Are you a business owner?You may be able to deduct certain leasing and operation costs associated with the business use of your automobile.Are you concerned about automobile safety features and technology quickly becoming obsolete? Leasing (even with a high-mileage lease) may not be advisable due to mileage limits and the expensive per-mile overage and wear-and-tear fees.Consider buying your next automobile, and explore financing options that work best with your budget (e.g., self, dealer, bank, etc.). Do you want flexibility in how long you keep the automobile, and what modifications you can make?Do you want to minimize the immediate costs of depreciation and minimize your purchase price?Consider buying a used automobile to take advantage of the depreciation that has already occurred.Leasing offers several advantages, including a short-term commitment, warranty coverage, and temporary use of a depreciable asset.Be mindful of the disadvantages of leasing, and recognize that the total costs over time may be higher than with ownership, particularly if you buy out your lease at the end of the term.Be mindful of the disadvantages of buying, including sunk costs, depreciation, the responsibility for repairs (potentially beyond warranty), and the hassle of trading in or selling.Buying offers several advantages, including control over the duration of ownership, discretion to use and customize, and the potential to protect the value of the asset and ultimately sell/trade. You may be able to deduct certain ownership and operation costs associated with the business use of your automobile. Consider conducting a break-even analysis as you assess the overall financial impact either buying or leasing.NoYesYesNoNoYesNoYesNoYesYesNoAre you a business owner?NoYesSTART HERE
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Weiser Financial Planning, LLC

Weiser Financial Planning, LLC is a Fiduciary, and Fee-Only Financial Planning Firm. A Registered Investment Adviser in Lewis Center, OH that provides Comprehensive Financial Planning and Investment Management Services to clients in the Columbus & Central Ohio area, as well as Nationwide though online virtual meetings. Ryan J. Weiser CFP®, CDFA® is the president and founder of Weiser Financial Planning LLC. He helps people connect their money with the things that are most important to them by making wise financial decisions, so they can maximize their money and live the best life possible. 

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