Shall I Buy or Shall I Lease?
If you can’t answer the question “To buy or not to buy?” leasing may be a good option for you.
There is no right or wrong answer to this dilemma – it all depends on your situation.
If you want lower monthly payments and you like driving new vehicles, leasing might be the option for you.
If you like to keep a car for a while, do not want to be restricted to a certain number of kilometers per year and a required maintenance schedule, you may prefer buying.
In brief, there are advantages and disadvantages to both leasing and buying.
As a consumer, make an educated choice based on the impact of buying or leasing for your budget.
- Do your homework.
- Talk to professionals at the dealership.
- Protect yourself by understanding the terms of your lease or purchase agreement.
Check out our Buying Tips on more information about leasing and what to pay attention to while finalizing a lease agreement http://www.mvsabc.com/leasing.htm.
There are many Lease or Buy calculators available online. Here is a link to one of them: http://consumer.ic.gc.ca/eic/site/oca-bc.nsf/eng/ca01851.html
If you have questions about this information, please contact:
VSA, Suite 208-5455 152 Street,
Surrey, BC, V3S 5A5,
Tel: (604) 574-5050,
Fax: (604) 574-5883
enquiry@mvsabc.com
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Fall 2009 edition of WESTWORLD
Read "Hot Topics" in this edition for excellent advice about car buying from both the BCAA and the VSA. more (PDF) |
