Why Leasing Is Perfect For Canadian City Dwellers
With the warm weather continuing to tease us, and a long weekend down the pipeline it’s time to start getting out and exploring this great country. Whether you’re the “cottage in the woods” type or the “hotel next to a vineyard” type, springtime in Canada has something to offer, especially for the city-dwellers who’ve suffered through the slushy concrete and stalled public transit systems for far too many months. Spring is a busy time of year for car leasing, when people from Toronto, Vancouver and Halifax visit our dealerships to get the ball rolling on a car lease.
It’s easy to see why someone from a city would opt to lease a car at a luxury or exotic car dealership rather than buy one – lower monthly payments mean better cash flow for other expenses; having access to new cars every few years helps you stay ahead of the curve, both style-wise and in terms of fuel-efficient technology; and the shorter commutes make better sense with a leased car.
We’ll start with the first point, which is that the lower monthly payments on a lease can free up cash flow. Especially when you’re contending with high rent prices (or, if you’re a homeowner, high mortgage costs), high food prices and gas prices, one of the great benefits of leasing a car is that you don’t have to divert a large amount of your monthly earnings toward it.
When you purchase a car to own, you have to gather a sizeable down payment, which can put you out before you even walk into the dealership, and you also have to pay monthly loan payments for probably around five years. By the time the loan is paid, is the car even worth keeping around? With leasing, on the other hand, you pay only during the agreed upon lease term, with a flexible down payment, and you don’t have to worry about driving the same car for over five years.
That leads us to our second point: you have access to newer cars, more often. Especially in a big city, there is some “one-upsmanship” that goes on, in social circles, at work and even when you’re parking on your street. Perhaps it’s unfair, but people do judge you on the type of car you drive. When you own, you’re sort of tied to your car – you don’t want to sell it too quickly, since you will have eaten most of the depreciation cost, but keeping it for over seven years means that you don’t have the nicest car on the road.
With a car lease, you can change up your vehicle every few years, trying out new makes and models, staying current with engine and infotainment technology. When your lease term is up, and you want something nicer (after all, you saved all that money on the first lease!) we can find your perfect car for you, whether it’s a European coupe or an American muscle car.
Finally, there are the shorter commute times. It doesn’t make sense to buy a car for a short daily commute, when you could just lease one. It’s not like you’re driving between counties every day, or racking up a lot of highway mileage. And to save money further, you can ensure that your next leased car is on the cutting edge of fuel economy.
Of course, leasing isn’t just for city dwellers. There are a number of compelling reasons that someone who lives in a smaller town or out in the countryside would be better served by leasing rather than buying. But here we’re focusing on the unique reasons leasing works better for city dwellers, so if you’re in Halifax, Vancouver or Toronto, stop by AUTO ONE Group today to look into leasing your next luxury vehicle.