Regina Motor Products
Albert St. S. at Hwys 1 & 6, Regina, SK, S4P 3A8
306 585-1770

Lease vs Finance

Weigh Your Options

Leasing your new vehicle offers some great benefits for the right person or situation.

What is leasing? Leasing is a finance option that allows the customer to pay for what they actually use. The payment is based on the estimate depreciation and a small cost of borrowing.

Lease

Leasing offers affordable payments with shorter terms

This lets you…

  • Consider vehicles with more options
  • Choose your desired trade cycle
  • Have peace of mind since most terms are within the warranty period

You have options at the end of your lease

If the vehicle is worth more than the residual value

  • Exercise your purchase option and keep it
  • Exercise your purchase option and apply the equity to the next vehicle

If the vehicle is worth less than the residual value

  • Drop off the keys and walk away (subject to any excess kilometres or wear-and-tear charges)

Buy

Conventional loans typically require longer terms to achieve affordable payments

This keeps you…

  • From trading into a new vehicle sooner
  • Driving the same vehicle longer even when you are ready to trade

Conventional loans have obligations when you trade

  • The owner must find a buyer
  • The owner assumes all of the risk for unexpected depreciation
  • The vehicle's condition, mileage, and wear and tear will be a factor in assessing the total value of the vehicle
  • The owner must satisfy the loan balance regardless of the vehicle value

NO CAR CRAP: SHOULD I LEASE

Our Finance Manager, Chris Halliday explains why a vehicle shopper may want to lease their next vehicle instead of purchasing. Watch and learn the benefits of leasing!

IT'S MORE THAN JUST THE PAYMENT

At the end of a lease, a customer can choose to:

  • Return the vehicle with no negative equity
  • Exercise the option to purchase the vehicle
  • Lease a brand new vehicle with up-to-date technology and safety features, and receive total loss protection
  • Save on sales tax for only paying on the portion of vehicle used
  • Eliminate potential accident damage depreciation during the term of the lease

Whereas a finance customer may still have to:

  • Deal with potential negative equity
  • Pay more in maintenance costs and deal with the vehicle being past its warranty period
  • Face depreciation due to accident damage
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