Should You Buy or Lease a Company Vehicle?

kelowna accountant

As a Kelowna accountant I often get asked by my clients if they should buy or lease a company vehicle.

The answer to this depends on the company and the individual using the vehicle. The difference between leasing and buying is often a cash flow and philosophy decision, versus a tax driven decision.

Determine what you can comfortably afford to spend each month on car expenses and work backwards. When you lease, your payments are usually substantially lower because they have a residual value depreciated from the vehicle, effectively making leasing cheaper than buying.

Related: 5 Tax Tips That Challenge… Continue reading
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