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Blog > LEASE VS. FINANCE

LEASE VS. FINANCE

What is the better option for you?

Is it better for you to buy a new vehicle, or lease it?

Getting into a new vehicle can be such an exciting time, but there’s often the question of whether leasing or financing the vehicle makes the most sense. Depending on your driving routine, either option can be great – it just depends on how you plan to use your vehicle.

Let’s have a look at what the benefits of financing are:

  • You have full freedom to drive your vehicle however you want to
  • Once you’re finished paying your car loan back, the vehicle is yours
  • You can keep your vehicle for as long as you’d like once the loan is paid back
  • By repaying the principal, you’re building equity

Benefits of leasing a vehicle include:

  • You get all the newest technology and safety features
  • You’re driving the latest model and can upgrade every couple of years
  • The vehicle is new and has the least amount of maintenance required

It’s important to keep in mind that when you choose the option to lease, you pay for a certain number of kilometres and if you go over this number, you have to pay more. As well, you are responsible for ensuring the vehicle stays in the condition you leased it in. 

As always, our incredibly knowledgeable and helpful sales and finance team can always help you with knowing what decision is best for your lifestyle.