"There's No 100% Tax Break"

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5 • 839 Ratings

🗓️ 4 September 2025

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.7	My employer is offering a pre-tax benefit for leasing a vehicle.
0:12.7	So would this affect the financial, you know, advice comparison between leasing, financing, and buying a vehicle outright.
0:21.9	No.
0:23.1	Leasing a vehicle is financing a vehicle.
0:25.1	You're signing the lease, right?
0:27.1	Yes.
0:27.7	No, don't do that.
0:28.8	No, no, no, no.
0:30.0	I'll take the money.
0:31.2	Just give me the money and I'll go buy a car.
0:34.7	Even though the lease would be pre-tax and if I buy the car it will be post-tax.
0:40.7	Doesn't matter.
0:42.5	Doesn't matter.
0:43.9	The deal is this.
0:45.4	Leasing is the most expensive way to operate a vehicle mathematically.
0:50.5	It's a rip-off.
0:52.4	The average cost of capital, quote, interest rate is 14.2%.
0:56.8	And you're buying a new car and it goes down in value like a rock and all of the lost
1:02.9	depreciation is built into the lease payment.
1:04.9	You're financing something you cannot afford to buy and you're calling it smart because
	...

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