WHY LEASE?
Most people are familiar with financing, but leasing can seem confusing.
Below is a short video from GM Financial that walks through leasing basics.
- A QUICK COMPARISION BETWEEN FINANCE AND LEASE. -
LEASE
OWNERSHIP
At the end of your lease, you can purchase the vehicle, trade it or turn it in.
DOWN PAYMENT
Based on the lease structure, your down payment may be less than buying.
MILEAGE LIMITS
Charges may be applied if total kilometres exceed the allowable mileage in your agreement.
MAINTENANCE & WEAR
You cannot modify your vehicle and are required to service the vehicle per your lease term.
MONTHLY PAYMENT
Your payments may be lower than purchasing.
FINANCE
OWNERSHIP
When purchasing a vehicle, it is titled in your name and you own the vehicle free and clear at the end of your agreement.
DOWN PAYMENT
In some cases, the down payment amount needed may be higher than leasing.
MILEAGE LIMITS
There are no contractual mileage limits, but the value of a vehicle declines with more mileage.
MAINTENANCE & WEAR
You are free to modify your vehicle and have the option to choose which repairs to make subject to the terms of your agreement.
MONTHLY PAYMENT
Your payments may be higher than leasing.