Michael Beigler analyzes the advantages of the two financing forms: leasing and credit. The author provides an overview of the financial, economic, and tax-related influencing factors and discusses their significance for decision-making. The reader gains insight into which situations are advantageous for leasing and which are better suited for credit financing from an investor's perspective. Additionally, the decision-making situation is analyzed from the perspective of the lessor and the refinancing bank. The author discusses, based on a tax arbitrage model, the extent to which the German tax system is neutral regarding the alternatives of credit-financed purchases and leasing.