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The difference between leasing and buying a car, what are some key differences in leasing a car and buying a car?

Well, on a lease, most people, you'll hear that a lot. People say, well, you don't own the car, right?

The truth is, do you want to own a vehicle that's going to lose value, right? Very rarely do cars go up in value.

So that's why leasing is so prevalent. 70, 80%, like you said, a people lease the vehicles. When you're financing the vehicle, you do, you technically own it, but the bank owns it while you're financing. So until you pay it off, the vehicle still belongs to the bank. The title's held by the bank. You're not the owner of that vehicle. That's something. That's a common misconception. You don't own a car either way.

Until you finally pay it off. And then when you do pay it off, more people want to trade it in. They want to trade in right away. It's old. By the time you own it, now it's old. Exactly. But another thing with the leasing that people don't fully understand, so like for me personally, right? The reason why at least is that I'm a business owner.

Yep.

Right.

So I get better tax treatment for a lease in the car.

Exactly. So like for me personally, right? The reason why at least is that I'm a business owner.

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