There are so many misconceptions about leasing a vehicle, and Brantford has answers to help make your decision easier!

When you lease a vehicle you are only paying for the vehicle’s depreciation over the term of your lease. At the end of your lease, you have the option of either buying the vehicle for the pre-determined reschedule or returning it to the dealer.

A lease means substantially lower monthly payments because you are not making any payments on said residual value.

Leasing can free up cash flow for other things like paying down your debt that’s costing you more in interest.

And yes you can refinance the buy out if this is what you choose to do.

Compared with financing the purchase of a new car, it will likely mean lower monthly payments for the same vehicle. A smaller or no down payment is also possible.
Leasing can work out to be a cheaper option if lease rates are better than financing rates. You win on the lease.

When leasing a car, customers are agreeing to make regular payments for a set period of time, often three or four years. At the end, they return the car to the dealer and walk away if you choose.

However, even if the car is paid for, there are still regular maintenance and repair costs. And as the car gets older, those bills can add up.

So if driving a newer car is something that is important, leasing may be the option.

If you’re more inclined to buy the car and drive it until the last bit of life is left in it, then probably leasing isn’t the right way to go.