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Old 02-01-2012, 12:35 PM
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My Daycare My Daycare is offline Member
Join Date: May 2010
Location: Illinois
Posts: 236
Default Lease or Own?

Hi, I have a dumb question here.

I financed my car, which to me means that I will own it when I am done paying for it.

Turbotax is asking me if I lease or own it.

My understanding of lease is to pay monthly for the car, but return it when your time is up. Own is to not own anything on the car and it's yours.

If I financed my car, which box should I check, lease or own?????
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Old 02-01-2012, 01:13 PM
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Blackcat31 Blackcat31 is offline
Join Date: Oct 2010
Posts: 18,919

you are the owner (of the loan and the car )
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Old 02-01-2012, 07:23 PM
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TomCopeland TomCopeland is online now
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Join Date: Jun 2010
Location: St. Paul, Minnesota
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Default car loan

You own the car. You haven't fully paid for it, but you own it.
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