Financing vs. Leasing – What Works for You?
If you are considering financing or leasing your next vehicle, there a number of important items to take into account. A Oakville Infiniti lease gives you a number of advantages, including lower monthly payments compared to the cost of financing a vehicle. But financing has the benefit of eventual vehicle ownership, so what type of plan works best for your situation?
The Leasing Advantage
The advantage of a lease is lower monthly payments and fewer up-front costs than financing the same model would; even low-percent financing may have higher payments than with a comparable lease. Other advantages include:
- You can upgrade to the latest model every few years, often without having increased payments
- When you lease a vehicle, you typically pay less tax on a lease. This is because you only pay tax on the monthly payment, as opposed to the full purchase price of a vehicle
There are also a number of options are available at the end of the lease:
- You can return your vehicle
- You can lease another vehicle
- You can finance or buy your vehicle
And if you fall in love with your vehicle at lease-end, there are a number of attractive financing options offered here at Oakville Infiniti.
The Financing Advantage
When you finance a vehicle from our dealership, we have multiple financing plans available to you. Everything from limited mileage plans for your weekend “fun” car, to extended-mileage plans for your daily commuter. Other advantages of financing include:
- Building vehicle equity
- No penalties for excess wear and tear
- A lower carrying cost than leasing, as with a lease you are not repaying the entire value of the vehicle
If you’re still not sure which plan works best for you, come in and talk to one of our specialists! Our team is extremely knowledgeable, and will be more than happy to work with you to craft a plan that works best for your individual situation.