Car Rental vs Purchase Financial Analysis
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Financial Evaluation of 2013 Toyota Prius
Financial Evaluation of 2016 Honda Accord EX-L
Difference In Tax Deductions for Car Rent vs Purchase
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MileagePriceMileagePrice
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Auto DeductionsMiles / WkGallons$ Per GallonPer WeekPer Year
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More Miles
90,000 $ 16,800.00
More Miles
95,000 $ 13,923.00 Gas120040 $ 2.83 $ 113.20 $ 5,660.00
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Payment $ 211.00 $ 10,550.00
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Less Miles29,000 $ 23,800.00 Less Miles36,000 $ 18,681.00
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Total $ 16,210.00
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Difference61,000 $ (7,000.00)Difference59,000 $ (4,758.00)
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Mileage Deduction
Annual Miles
IRS Deduction
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Depreciation Per Month
$ (583.33)
Depreciation Per Month
$ (396.50)60000 $ 0.59 $ 35,100.00
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Difference In Tax Home Pay
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PurchaseLeasePurchaseFair For Uber
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RevenueTax PaidTake HomeSavings
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Monthly Payment
$ 450.00 $ 660.00
Monthly Payment
$ 350.00 $211 x 4.4 $ 924.00
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Before Deductions
$ 60,000.00 $ 10,965.00 $ 49,035.00
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Depreciation
$ 583.00 $ -
Depreciation
$ 396.50 Bonus $ (836.00)
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($190 x 4.4)
Expense Deductions
$ 60,000.00 $ 6,947.00 $ 53,053.00
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Insurance $ 200.00 $ 200.00 Insurance $ 100.00 Included
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Mileage Deduction
$ 60,000.00 $ 3,235.00 $ 56,765.00 $ 3,712.00
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Tax Savings
$ (309.33)
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Total $ 1,233.00 $ 860.00 Total $ 537.17 $ 88.00
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Savings Per Month
$ 373.00
Savings Per Month
$ 449.17
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