The decision to purchase a new car can be daunting – a new car purchase locks the buyer into a long-term decision, but preferences, car models, finances, and personal needs may change over time. Over the past 5 years car leasing has surged in popularity, and according to the Lease Market Report from edmunds.com, in the first 6 months of 2016 more vehicles were leased than during the first half of any other year in history. For people seeking a more flexible solution for their budget and lifestyle, leasing a car can be ideal and there are great options for leasing all over Canada this winter, from Toronto Halifax and Vancouver. If you need a car for the holidays, take the pressure off the decision and enjoy an upgrade with a lease.
Financially, payments on a car lease tend to be lower than a car loan because the lessor doesn’t make payments on the principal. This means that with the same payment it’s possible to have a more expensive and well-appointed vehicle, or a lower monthly payment on the same vehicle, by leasing rather than buying, a fact which is detailed here at Autoone.ca/leasing-101.htm along with some other useful facts about leasing.
Another upside to leasing a vehicle is access to maintenance. Most leased vehicles are new and still under warranty. New cars are better because, in addition to having fewer maintenance problems in general, many maintenance services that are needed are covered by the dealership throughout the lease agreement term, saving even more money.
With the option to upgrade the vehicle mid-term or at the end of the lease agreement, the driver can always be behind the wheel of a late model car of his or her choice, or walk away with no ongoing financial obligation. Many times “lease to own” options are available which allow the lessor to buy the vehicle at an adjusted rate if they choose to keep it when the lease is up, a system that provides more flexibility to switch makes and models on demand.
When choosing a dealership for a lease, it is important to build trust, rapport, and clear expectations up front, and, because of this, a dealership that has experience leasing vehicles and a deep knowledge of the automobiles that they’re leasing is important.Select a well-established, reputable dealership with a strong history in customer service and satisfaction.
When exploring payment options, ask about dealer financing, a tool for dealerships to offer financial arrangements directly to their customers, without any third party sources such as factory finance companies or financial institutions. This may also be called “in-house administration” and can offer the customer more streamlined options than traditional financial institutions.
With the holidays right around the corner, and all the parties and running around that go along with them, you’re going to want to be driving a nice car, and leasing with a reputable dealer ensures that you don’t have to break the bank. After all, you want money for what matters most in life: buying gifts for your loved ones.