Finance or Lease a car for buisness use?

Question

I am opening a driving school and am not sure if I should finance or lease my vehicles. Please note that for this business the cars incur high mileage.

Answer 1

In general, it is always better to finance and purchase the cars, especially if you are planning on high mileage and keeping them for more than the normal 2-3 year lease period.

You should always seek the advice of a qualified accountant to review your specific situation with respect to taxes, depreciation, anticipated operating costs, and how long you plan to keep the car, but the only way leasing makes sense is if you know you are going to get rid of the car at the end of the lease, your mileage won't exceed the lease allowance, and you can't be bothered to sell the car privately or trade it in on a new model.

Leasing is convenient, but buying/financing will save you money in the long run. Remember that leasing is a very profitable business, and that profit is coming out of your pocket!

Answer 2

in case you do no longer stress plenty leasing might healthful you're desires. in case you bypass over the required volume of miles (maximum leases bypass 12,000 miles a 300 and sixty 5 days) you will pay for the greater advantageous miles used. verify with the broking approximately what share miles you get a 300 and sixty 5 days. do no longer forget approximately, what ever you place down on a hire you are not getting decrease back. in user-friendly terms leased a motor vehicle as quickly as and ended up procuring it whilst hire replaced into up. enormous mistake i think of reason the motor vehicle began falling aside after the three 300 and sixty 5 days hire.