2084: [Part 2] Can You Lease Your Car to Your Business? by Dr. James M. Dahle of White Coat Investor on Understanding Car Leasing

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at:⁠ OLDPodcast.com⁠. Episode 2084: Dr. James M. Dahle explains why owning a vehicle is usually the better long-term financial decision than leasing, even when lease payments are tax-deductible. He breaks down depreciation, lease-back arrangements, and business-use deductions, showing why tax benefits rarely outweigh the higher costs of leasing while offering practical guidance for high-income professionals seeking to minimize unnecessary expenses. Read along with the original article(s) here:⁠ https://www.whitecoatinvestor.com/should-your-business-lease-a-car/⁠ Quotes to ponder: "Renting can obviously work out better in the short term (there’s a reason we all rent a car when we go to Hawaii), but the longer you have and use the car, the better owning works out." "It seems exotic. It seems like a cool thing to drop at a party as a genius idea. But in the end, it might not be all that. But looking smart can be better than being smart." "If you must spend the money, then try to make the spending deductible. But don’t spend extra (on a lease or car loan interest) just because it is deductible." Episode references: Internal Revenue Service (IRS) – Topic No. 510 Business Use of Car:⁠ https://www.irs.gov/taxtopics/tc510⁠ Dave Ramsey:⁠ https://www.ramseysolutions.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices