Lease vs Finance
Many people are still unsure on whether to lease or finance their next car purchase.
I get asked this question all the time. There's no wrong or right answer here.
My answer to them is ... it depends. Depends on your situation.
Here's a few points below.
I get asked this question all the time. There's no wrong or right answer here.
My answer to them is ... it depends. Depends on your situation.
Here's a few points below.
Lease
Lease if you ...
1. Enjoy driving a new car every 2 to 4 years
2. Like that new car smell
3. Want lower monthly payments
4. Like having a car with the latest in safety & technology
5. Like having a car always under warranty
6. Don't care about building ownership equity
7. Drive less than 24,000 km
8. Want GAP (Guaranteed Asset Protection) insurance
9. Properly maintain your car
10. Can't afford a big down payment/no down payment
11. Don't become emotionally invested in your car
1. Enjoy driving a new car every 2 to 4 years
2. Like that new car smell
3. Want lower monthly payments
4. Like having a car with the latest in safety & technology
5. Like having a car always under warranty
6. Don't care about building ownership equity
7. Drive less than 24,000 km
8. Want GAP (Guaranteed Asset Protection) insurance
9. Properly maintain your car
10. Can't afford a big down payment/no down payment
11. Don't become emotionally invested in your car
Finance
Finance if you ...
1. Don't mind higher monthly payments
2. Like the idea of having ownership equity
3. Look forward to paying off your loan feeling
4. Don't mind the unexpected cost of repairs after warranty has expired
5. Drive more than 24,000 km
6. Prefer to drive your car more than 5 years
7. Like to customize/modify/repaint your car
1. Don't mind higher monthly payments
2. Like the idea of having ownership equity
3. Look forward to paying off your loan feeling
4. Don't mind the unexpected cost of repairs after warranty has expired
5. Drive more than 24,000 km
6. Prefer to drive your car more than 5 years
7. Like to customize/modify/repaint your car
Cash
Yes, there are some people who prefer to pay cash for their vehicles.
They don't want to worry about making any car payments.
They don't want to worry about making any car payments.
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