Should I Finance or Lease a car?
The question – Should I finance or lease a car? – can be a complicated one. Generally there is no right or wrong answer, but more a series pros and cons for each scenario. The ability to defer tax and write off payments make leasing a popular option for businesses and independent contractors. A carefully structured finance agreement that considers all variables can be equally effective. As with most complicated financial decisions it is always best to consult with a professional before making a decision. Company of Cars and our dedicated and knowledgeable Financial Services staff can help bring you up to speed on all the options.
If you’re trading in a vehicle and looking to take full advantage of your tax credit? You may be better suited to financing. If you have a car allowance or own your own business then leasing may be a great option for you. It’s important to consider different scenarios and options and consider your future plans too. Do you switch vehicles a lot or do you rack up a bunch of kilometres on your car, truck or SUV every year?
If you’ve considered all this and you’re still wondering “should I finance or lease a car?” You can always consult with one of our licensed Financial Services Managers for a complimentary assesment.
You can also see some of the frequently asked finance and lease questions here.
