Leasing or buying a vehicle are both options that come with a different set of advantages and disadvantages, and making the right decision is entirely based on your personal needs and situation. . According to Statistics Canada, the average Canadian puts 20 per cent of their income towards an auto loan every year. Financing a vehicle is an option for Canadians who want to eventually own the car they’re paying off. However, some Canadians are leasing their vehicles . – a popular alternative to financing. . How Does Leasing a Vehicle Work? . When you lease a vehicle, you make regular payments on a car over a short-fixed term (typically 2-4 years) and then return the vehicle once the lease is up. Leasing, like renting a car for a long period of time, means you only pay for the car’s value that you use. Unlike financing or owning a vehicle, you’re only required to pay for the depreciation costs of a leased car. Due to this factor, leasing a vehicle typically has lower monthly payments. Because leasing a vehicle does not include owning the vehicle, there are some restrictions of use included with the contract. These include restrictions on mileage (which can be tailored to your driving habits), vehicle modifications and vehicle usage. These factors can make leasing less desirable for some drivers, but if you are using the vehicle for personal use, like the vehicle the way it comes and want to enjoy the newest features and technologies every 2 to 4 years, leasing is very appealing. . . Have you ever leased before? What was your experience? . . 😎Stay tuned for - How Does Financing a Vehicle Work . #vehicleleasing #yegcars #options #choices #gmcanada #chevrolet #lease #gmfinancial #supercar #camaro #yegcars #beautiful (at Sherwood Park, Alberta) https://www.instagram.com/p/ByoapSQAbnX/?igshid=b6gsyiolag6o














