Should you buy, or should you lease?
There's benefits to both ways you can get into a new vehicle - weigh your options, and figure out what works best for you.
Why should you choose to Lease your next vehicle over Buying?
- LEASE: the vehicle has a guaranteed end of contract value
- PURCHASE: the vehicle has no guaranteed end of contract value, and may experience accelerated depreciation
- LEASE: contract obligations are short (typically 24-48 months)
- PURCHASE: contract obligations are long (typically 84-96 months)
- LEASE: GM Financial Customers have Gap Protection, and are not harmed financially if their lease vehicle is written off and valued by ICBC at a lesser value that what is still owed on the contract
- PURCHASE: trade-in value is significantly lower if the vehicle has been in an accident, leaving the customer to pay the difference out of pocket
- LEASE: vehicle can be protected with wrap around warranty and maintenance packages for the entire term of the contract
- PURCHASE: vehicles with extended finance terms will experience warranty and maintenance expiry before the vehicle is paid off, right around the time when mechanical problems typically begin to arise
- LEASE: easy to upgrade into vehicles with advance technology every 24-48 months
- PURCHASE: longer finance contracts mean the customer must wait longer before upgrading to vehicles with advanced safety and comfort technology