Buy Vs Lease A Car

BUYING VS LEASING Your car is owned Each payment builds equity in your car; ultimately you will own it by the leasing company; you pay a monthly fee to "borrow" it OWNERSHIP Your loan need Your loan wil| only cover the expected depreciation of the car have to cover the full cost of the car FINANCING %$4 30-60% lower than Average is $549/ month, for a term loan payments, for an average term of 36 months of 72 months MONTHLY COSTS & FINANCING TERM You are free to modify or customize the vehicle in any You must return the car, exactly as is, at the end of your lease way you like MODIFICATIONS The car is yours; you can rack up as many km as You'll be limited to an average of 24,000 km/ year; overage results in extra charges (approx. 15 ¢ per km) you want MILEAGE It lowers the car's re-sale or trade-in value, You'll have to pay the leasing company a cash penalty for "above normal" wear but you're only held accountable and tear to yourself EXCESSIVE WEAR & TEAR You'll have to pay off your existing car before you purchase a new Every 3-4 years you can trade in your car for a brand new model one TURNOVER About 20% of Nearly 70% of Canadians choose Canadians lease to buy cars using 6-8 year term loans cars; more than 50% buy their car at the end of the lease POPULARITY Sources: http://www.theglobeandmail.com/globe-investor/personal-finance/lease-or-buy-a-car-whets-the-better-optionfarticie565403/ http://www.marketwatch.com/tools/carleaseorbuy http://www.consSumerreports.org/cro/2012/12/buying-vs-leasing-basics/index.htm https://www.carbuyingtips.com/glossary.htm http://globalnews.ca/news/1133080/the-rise-of-the-8-year-car-loan/ http://www.theglobeandmall.com/globe-investor/personal-finance/household-finances/canadians-rev-up-spending-with-car-loans/article19813098/ http://www.theglobeandmail.com/globe-drive/news/industry-news/lease-or-finance-a-new-car-we-break-cown-the-pros-and-cons-of-eachvarticle23112792/ f y in 8* You 1-808-458-7473 Automotive Tube TRAINING CENTRES 416- 231- 7227 www.autotrainingcentre.com