When you drive long distances and add a lot of miles / kilometers to the vehicle you are better off owning your vehicle. This way you are not at risk running over your mileage limits on a lease, and the penalties you would face. Specifically, if you drive more than 30,000 km a year you're better off owning.
Why would you finance a vehicle?
Select one of the titles below to see the explanation.
Long Term Considerations
Unlike a lease, your payments stop once the vehicle is paid for.This is great for freeing up cash flow and puts you in a better financial and cash flow position.
Ownership Has Its Benefits
Owning your vehicle means that you have the option to run it into the ground, or modify it as you see fit.
Building Your Credit Score
Payment history is one of the five factors that impacts your credit score. In fact it accounts for 35% of the score. By regularly making on time car loan payments you will be improving your credit score.