ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 58: Should You Lease or Buy Your Next Car?

Getting a new car is exciting. At the same time, it can be pretty stressful, especially if your current car is on the fritz. Unless you’re opting for self-transportation (walking or biking) or third-party transportation (rideshare, train, or bus), you have two main options in front of you: buying or leasing. But that decision can be a tricky one to navigate.

In this episode, we go over the pros and cons of each, pose questions you should ask yourself when making a decision between the two, and go over the tax considerations at play.

Topics Discussed:     
  • Whether the value of cars has gone up recently.
  • The math behind leasing versus buying a vehicle.
  • Why leasing may be a cheaper option.
  • The questions to ask yourself before leasing or purchasing a car.
  • What to be aware of when leasing a car.

Resources Mentioned:

ERdocadvisor.com  

Tags

planning, financial planning, ER doctor, doctors, taxes, vehicle, cars, leasing, savings

by 
Scott Wisniewski, EA