| |
|
 |
| |
Leasing versus Purchasing
|
What should consumers do?
Until the past few years, most people bought new cars through automobile dealer financing, or bank loans or in rare instances, straight cash. Leasing vehicles was for business, not consumers. |
|
|
Leasing: No Simple Answers
"With the many financing products available in today's extremely competitive automobile marketplace, simple answers don't usually apply in the decision to lease or buy." Riley explains. For example, zero percent financing on a typical 48-month vehicle purchase, introduced in 1998, means you simply pay the actual cost of a vehicle plus taxes with no interest charges. On a $30,000 vehicle, that works out to $719.00 per month - and you own the vehicle free and clear at the end of the term.
|
|
|
More Options Than Ever
"You can look at leasing today as another form of financing, but one that enables you to pay lower monthly payments over a shorter time period. Leasing also lets you either purchase the car at the end of the lease period - when GST and PST taxes are then applied on the residual value of the vehicle - or lets you simply return the car.
|
|
|
Deal With The Dealer:
Whether you are purchasing a new car or leasing, it is always better to deal with a new car dealer, Riley believes. |
|
|
|
|
|
 |
|
|
| |
|
| |
 |
|
Home Page
