Buy vs. Lease

LEASE

Leasing offers affordable payments with shorter terms

This lets you…

• Consider vehicles with more options
• Choose your desired trade cycle
• Have peace of mind since most terms are within the warranty period
• You have options at the end of you lease

If the vehicle is worth more than the residual value

• Exercise your purchase option and keep it
• Exercise your purchase option and apply the equity to the next vehicle

If the vehicle is worth less than the residual value

• Drop off the keys and walk away (subject to any excess kilometres or wear-and-tear charges)

BUY

Conventional loans typically require longer terms to achieve affordable payments

This keeps you…

• From trading into a new vehicle sooner
• Driving the same vehicle longer even when you are ready to trade

Conventional loans have obligations when you trade

• The owner must find a buyer
• The owner assumes all of the risk for unexpected depreciation
• The vehicle's condition, mileage, and wear and tear will be a factor in assessing the total value of the vehicle
• The owner must satisfy the loan balance regardless of the vehicle value

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