LEASING VS. BUYING
LEASING VS. BUYING IN VANCOUVER, BC
Vehicle shopping involves far more than choosing the model that suits your needs, as consumers have to weigh whether leasing or financing is best for them. If you’re eyeing your next car in Vancouver, Richmond, BC, or anywhere in between, learn more about the main differences between leasing and financing below and contact Dueck Downtown to make your ideal model yours today.
KEY DIFFERENCES BETWEEN LEASING & BUYING
Leases typically involve regularly scheduled payments on your chosen vehicle over a fixed, predetermined term, usually two to four years. When leasing a vehicle, you’ll also work with your dealership to determine your yearly mileage limits, with payments often amounting to less than those of a financing agreement, since you’ll only be paying for the vehicle’s value that you’ve used. Once your lease’s term is up, you can choose to renew it, buy the vehicle outright, or simply return it to our dealership in pursuit of something new. In other words, leasing is ideal for those who want to enjoy the thrill of a new vehicle every few years.
Financing, by comparison, involves its own payment plan over a time period determined with the dealer, but once your payments are complete, you’ll own the vehicle outright. A longer-term financing agreement also allows you to build credit and equity, and you can always trade your vehicle in if ever you choose to treat yourself to another model. Buying your vehicle also gives you the freedom to personalize it to your tastes and drive it at your leisure without worrying about mileage limits.
For more on vehicle leasing or financing and how our Finance Centre can help you obtain your dream vehicle, contact us at Dueck Downtown today.