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| Recent figures show that 50% of Canadians now lease their vehicles. If you are thinking of getting a new car, van or truck, here are a few points to consider which may help to guide you into the most cost effective method of driving exactly what you want. |
| YOU SHOULD CONSIDER BUYING IF: |
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You keep your vehicle more than five years.
You are not concerned with the cost of repairs after the warranty expires.
You don?t receive a tax benefit for leasing.
Your cash flow is not a concern.
You have the cash in the bank to cover the entire purchase price, including all taxes.
You are unable to invest for a return higher than the prime interest rate at the time (i.e. mutual funds, bonds?). |
| YOU SHOULD CONSIDER LEASING IF: |
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You like to drive a new car every two or three years.
You can benefit from an income tax write off.
Your cash flow isn?t strong or you are paying off other commitments, like a mortgage.
You don?t want to make a downpayment up front.
You like to keep up with the latest safety updates and styling trends.
You want or need more vehicle than you can afford with traditional bank financing.
You don?t like the hassle associated with selling your own used vehicle. |
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