Last week’s blog post introduced the topic of leasing a new car in Ontario, laid out the different types of leases in the marketplace and defined five leasing terms you should know. As that post stated, a lease is a contract to “rent” a vehicle for a long period of time. Should your situation change due to relocation, job loss or discovering the vehicle no longer meets your needs (e.g. starting a family) it may be difficult and expensive to get out of a lease. But there are also upsides to leasing. Like most things in life, there are pros and cons. Let’s examine some of them…search and determine if leasing is right for you, before you sign the contract.

Whether you choose to lease or purchase your next new vehicle, it’s crucial to make an informed and educated decision. Failing to do adequate research BEFORE your lease or purchase can have considerable financial implications. So if you’re considering leasing a new vehicle, ensure you understand how leasing works and decide if it’s right for you…