LEASE OR BUY?
The choice between buying and leasing has often been a tough call. On one hand, buying involves higher monthly costs, but you own something in the end. On the other, a lease has lower monthly payments, but you get into a cycle where you never stop paying for a vehicle. Now, more people are choosing a lease over a car loan than just a few years ago. And it looks like the boom in leasing isn't stopping anytime soon.
|A lower monthly payment||✔|
|Lower up-front costs||✔|
|No wear and tear restrictions||✔|
|Affordable payments on a vehicle with more options||✔|
|Driving a vehicle during its most trouble-free years||✔|
|Driving you vehicle for many years||✔|
|A new vehicle more often||✔|
|No resale or trade-in obligations||✔|
|Ability to make alterations to the vehicle's appearance||✔|
|In-dealership financing conveniences||✔||✔|
"SHOULD I LEASE" CHECKLIST
Review this helpful checklist to see if leasing your next vehicle is right for you.
- Leasing a new vehicle at a comparable price to purchasing a pre-owned vehicle is appealing.
- I may be able to include more add-on options in my lease vehicle than I might be able to afford if purchasing it.
- I prefer a lower biweekly or monthly payment.
- I like to drive the latest model every few years.
- I drive a predictable amount of kilometers every year every few years.
IS LEASING RIGHT FOR YOU?
Leasing offers affordable payments with shorter terms. This lets you:
- Consider vehicles that have more options
- Trade in your vehicle for the latest model more frequently
- Have peace of mind since most lease terms are within the factory warranty period