Buy Or Lease

Select one of the titles below to see the explanation.

You prefer to drive a new vehicle

Leasing a vehicle is essentially renting it. Car leases last two to four years, and once the lease is up you can return the car and start the process all over again by leasing a new vehicle. You will also have the option to buy out the lease at the end of the term.

Cash Flow & Payments

The big advantage of having a lease is the size of your monthly payment. Your monthly payment may be lower because you aren't financing the entire price of the vehicle. With a lease you're only borrowing the amount that the vehicle will depreciate over the term of the lease.

Slick Wheels

Lower payments also mean that when you lease you can afford a nicer car than you could if you were buying.

Low Mileage User

If you mostly drive short distances / have a shorter commute, then you don't have to worry about going over the allotted mileage in your lease agreement. Most car leases come with a limit of 24,000 km.