One of the best parts to leasing is that you also have options at lease end. At the end of your lease, you can walk away from the car, and not have to worry about negotiating its trade-in value, buy the vehicle, re-lease the vehicle, or use any equity as a trade-in:

Keep it
If you love your vehicle and don't want to part with it, simply buy it for the guaranteed residual price (which is generally a wholesale price) or extend the lease.

Trade it
If you decide you want a new vehicle just trade in the old one.  If the trade value exceeds the residual value, the difference is yours to apply to your new vehicle.

Keep the Profit
If you sell the vehicle yourself privately for more than the guaranteed residual price, the excess is yours to keep.

Return it
If market conditions change or if you just don't want to trade or sell it, then based on the lease term & condition of the returned vehicle, simply hand us the keys and walk away.

Does leasing make sense for you?

Lower monthly investment than what you would pay to service a loan for the same investment. Lease payments are generally 2/3 of a loan payment, with the same term and interest rate. The result is your can have a lower payment or keep the payment the same and drive a nicer vehicle.

• You only pay tax on the monthly payment, rather than up front on the full price of the vehicle. That adds up to big savings.
• Down payment is flexible
• Guaranteed future value
• No resale hassle
• Trade more often
• Cash flow benefits as you avoid putting too much of your money in a vehicle
• Drive more car for the money
• Drive new for the price of used
• Gratification of an affordable new vehicle more often (every 2-3 years).
• Peace of mind of knowing your vehicle is under a new car warranty. Even better if you turn the vehicle in before the factory bumper-to-bumper warranty expires, and therefore you never have to deal with mechanical difficulties.
• Leasing does not affect your ability to borrow for your business because a lease unlike a loan is neither an asset nor a liability.
• If you lease a car, you can deduct the entire amount, up to CCRA's maximum (currently $800 plus taxes per month), while considering any tax restrictions relative to your employment, business-use, or a percentage attributed for personal use.

Q. What costs will I have at the start of the lease?
A. There are a few payments to consider at the start of your lease:

1. Refundable Security Deposit
It will be refunded at the end of your lease unless it is necessary to use it to pay for any remaining amounts owed.

2. First Lease Payment (or partial lease payment if not starting at the beginning of the month)

3. Leased Vehicle Capitalized Cost Reduction
You can lower your monthly payment by trading in a vehicle or paying an amount in cash (down payment).

4. Registration Fees


Q. Who pays for the insurance?
A. You are responsible for insuring the vehicle with the amount of coverage required by your lease.

Q. Who pays for the license and registration?
A. Lease or buy, you are responsible for licensing and registering your vehicle.

Q. Who is responsible for repairing the vehicle?
A. You will need to repair the vehicle and have regular maintenance performed. If you don't, you will erode your equity in the vehicle.

Q. Can I lease a used vehicle or truck?
A. Absolutely! We are one of a select number of lease companies that are capable of leasing used vehicles at competitive rates if this better suits your personal situation.  We do, however, need the specifications and costs to evaluate the vehicle.

Q. Is there a Kilometer allowance?
A. The lease agreement generally provides an allowance of 20,000 kilometers per year.  There is an additional cost you must pay for every km above the allotment at lease end. If you know up-front that you will put on more than the allotted km's, you may choose to pay for the projected excess mileage ahead of time, usually at a reduced rate by lowering the residual.

Q. How is the residual value determined and how does the residual value affect the payment?
A. The residual value or buyout is based on the historical data on the resale value of used vehicles and on the amount of kilometers that you will put on the vehicle during the lease term.  Residuals are based on the vehicle having normal wear and tear, regular maintenance, no body damage and 1667 kilometers per month usage.  If you were going to put more kilometers on, then vehicle will be worth less at the end so the residual value would have to be decreased and the payments would go up.

Apply for lease using our online finance application. We provide leasing products for used vehicles up to 5 years old.