A family member is about to start a new job and will no longer have his current company car and was talking about leasing vs buying a car.
50,000 loan at 6% (viridian) paying that off however often
Lease a car at 500 per fortnight for x years, paying off residual at the end to own the car (not interested in upgrading at end of period)
My thinking is that the loan (buying the car) would be much better than the lease option as the car is actually owned immediately, tax advantages i think?
Was curious to know what other factors/calculations would affect a decision such as this? Are car leases a pain, any experiences?
Any help appreciated.