Lease Vs Finance

WEIGH YOUR OPTIONS

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 kilometers 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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