After having decided that it was time to change my car for a new model, I contemplated the idea of leasing instead of buying. With this thought growing more convincing I started researching
If I leased a car in the $23,000.00 bracket, the price immediately jumped to $25,000.00. On top of this, sign up fees are required. The allowed kilometres per year are only 15,000, anything over this is a hefty extra. If I want full coverage including petrol, the leasing fee Is about $840.00 per month. So for $200.00 per week my worries would be over; nothing more to pay until I exchange it for a new model in perfect condition after 3 Years.
Actually it looked like a good proposition, until I started calculating that I do more than 15000 km per year. The petrol is calculated on this amount also: so if one drives over the limit the price rises alarmingly.
Initially I was under the impression that I could use the lease as a tax deduction, no way. This commodity is available only to self employed people or companies
Back to the drawing board and the full purchase of a new car which will be fully mine begins to look better and more economical.