Is Leasing Really Better Than Buying? | AUTO ONE Group

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Is Leasing Really Better than Buying?

There are two ways to buy a car; you can finance it by taking out a loan or a lease or buy the car with cash.

Start by asking yourself a couple of questions:

  • How often do I like to drive a new car?
  • How many miles do I drive a year?

How often you like to drive something new may make a difference between buying vs leasing a vehicle. A lease lets you trade up a lot sooner than a loan or a cash purchase.

What is the Difference?

At the end of the finance contract, the total that you paid for the car is equal to the sale price, taxes and interest. If you trade out before the note is finished, you roll all of the deficit into the new contract.

As opposed to a finance contract where you finance everything, a lease is a contract where you pay for the portion that you use plus interest billed monthly.

The balance at the end of the lease is the residual amount and what we determine the car is worth at lease end. This means that less is financed, resulting in lower payments. At the end of the lease, you walk away, return the vehicle or lease another car.

Some of the benefits of leasing a car vs buying include the following:

  • Pay for what you use
  • No negative equity to refinance
  • Upgrade sooner
  • No long-term contracts
  • Lower monthly payments

Just as there are with finance contracts, there are a number of lease variables like terms, down payment and other options that will help you find the right lease for your needs.

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What Our Clients Say...

  • I chose the car lease length and term easily to fit my needs. Dealing with the team at AUTO ONE was a truly great experience. —Sarah R., Burnaby BC
  • Thanks again guys for a great experience, you earned yourself a customer for life and will be back for every other luxury car I'm ever gonna buy! —Rez Z., Toronto ON
  • My husband and I have purchased a few cars at AUTO ONE. Really is unlike any other luxury car dealership. We have always been extremely happy with the customer service. —Jocelynn P., Toronto ON
  • I have been doing business here for years. Awesome staff and they really work hard to accommodate your vehicle needs! —James S., Toronto ON
  • I'm on my 3rd car from AUTO ONE. They are super flexible, I was able structure my car lease to max out savings through my business. Thanks again guys! —Radhi K., Toronto ON
  • We had a great experience when purchasing our latest car at AUTO ONE, and would highly recommend to others! —Jennifer E., Halifax NS