You probably have a vehicle in mind. You've also probably explored everything from the colour, to the options, to the engine. Now it's time to explore the facts about leasing and buying. Leasing is an option which allows you to pay for the portion of the vehicle's value you expect to use over a period of time, plus borrowing charge and applicable taxes.

A quick look at the advantages of leasing:

• Lower monthly payments than buying.
• Drive a more luxurious model or get more features than if you financed.
• Lease terms are shorter than most finance terms so you can drive a new car more often.
• Drive a vehicle during its most trouble-free years.
• Avoid trade-in obligations.
• Choose to walk away at the end, or lease your next car.
• Pay taxes only on your monthly payment.

Traditional financing is an option whereby you borrow the amount you need to buy your vehicle, then repay that amount, plus interest, with the long-term goal of owning it.

A quick look at the advantages of buying:

• You will own the vehicle
• The vehicle will be registered under your name
• The bigger your down payment, the less you pay each month
• You can trade in your current vehicle to add to your down payment
• You can keep your vehicle as long as you wish
• There are no kilometrage restrictions
• There are no wear and tear limitations
• You may alter your vehicle any way you wish

Either way, our F&I managers are ready and willing to help you today!

Visit our auto finance department in Victoria, BC, to find out more about taking out a car loan, vehicle insurance, and everything related to auto leasing and financing.