Tag Archives: van

Vehicle lease vs purchase  Many people have written about the topic of a lease or purchase of a vehicle. In most instances a vehicle is a depreciating asset. In other words you lose money on it. It is completely fair to not have the expense of a car. If you do obtain one expect to pay for it, the insurance, the maintenance, fuel, etc. A lease is an agreement with a dealer that you agree to pay the amount per month to essentially rent the car. You then get the option of buying the car at the end of the lease term. A car purchase you either take a loan or pay with cash. In order to decide which is financially beneficial for you let’s crunch some numbers.  Example: A 2022 Toyota Corolla is MSRP 20k.  1. You pay cash. 20k is gone and you pay expenses for the car.…

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