Finance Vs Lease

Lease or finance your new vehicle


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 your 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)
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 risks 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