Car leasing
Jun 2nd 2010 | 5:02 am
#1
Thread Starter
Forum Regular
Joined: Sep 2008
Posts: 283
Car leasing
Will soon be looking to lease a car in Halifax.
Not looking for anything big, something small and cheap as there are only 2 of us, and we won't be driving any great distances.
What kind of prices (roughly) can we expect to pay per month for a lease. Also, can anyone suggest any websites where I can find leasing deals?
Not looking for anything big, something small and cheap as there are only 2 of us, and we won't be driving any great distances.
What kind of prices (roughly) can we expect to pay per month for a lease. Also, can anyone suggest any websites where I can find leasing deals?
Jun 2nd 2010 | 5:40 am
#2
Slightly Canadian
Joined: Jul 2005
Posts: 10,146
From: St. John's, Newfoundland
Re: Car leasing
Pretty much every auto manufacturer will have a website with a financial calculator on that enables you to calculate a lease cost. For example:
http://www.kia.ca/pages/pricing/Pric...spx?model=soul enables you to price a Kia Soul which is a small car.
http://www.kia.ca/pages/pricing/Pric...spx?model=soul enables you to price a Kia Soul which is a small car.
Jun 2nd 2010 | 8:30 am
#3
Joined: Sep 2008
Posts: 12,830
Re: Car leasing
Will soon be looking to lease a car in Halifax.
Not looking for anything big, something small and cheap as there are only 2 of us, and we won't be driving any great distances.
What kind of prices (roughly) can we expect to pay per month for a lease. Also, can anyone suggest any websites where I can find leasing deals?
Not looking for anything big, something small and cheap as there are only 2 of us, and we won't be driving any great distances.
What kind of prices (roughly) can we expect to pay per month for a lease. Also, can anyone suggest any websites where I can find leasing deals?
Jun 2nd 2010 | 8:48 am
#4
Forum Regular
Joined: Aug 2009
Posts: 33
From: Halifax, NS
Re: Car leasing
Sorry I didn't realise I was breaking the rules! 
The Aviator makes a good point though, lots of 0% financing deals on purchases around
The Aviator makes a good point though, lots of 0% financing deals on purchases around
Jun 2nd 2010 | 8:54 am
#5
Slightly Canadian
Joined: Jul 2005
Posts: 10,146
From: St. John's, Newfoundland
Re: Car leasing
Leasing can make sense for the private individual if you don't want to have the car for an extended period and are looking for a lower monthly payment. For example, I leased a Jeep over 3 years as that was the warranty coverage period. I didn't want to have it after that because when it went wrong (as it would) it would be at my cost. We currently lease a Kia Soul because a) it's a lower monthly payment (& thats a critical factor) and we didn't want to be left with something with a questionable resale value.
It's also worth noting that the 0% finance deals usually involve either buying the car for the nominal MRSP which is generally higher than if you came with cash or alternative finance arranged and/or buying over an extended period to get the lower monthly rate. That 72 month deal is all well and good but the vehicle will depreciate from its market price, not the MRSP and for much of the 72 month period you will owe considerably more than the vehicle is worth. You are thus stuck with that vehicle for probably all of that 5 years. We typically take a lease over a shorter period - 3 or 4 years & yes we're locked into it for that time but the assessment of outgoings vs. value works for us. YMMV may vary of course.
It's also worth noting that the 0% finance deals usually involve either buying the car for the nominal MRSP which is generally higher than if you came with cash or alternative finance arranged and/or buying over an extended period to get the lower monthly rate. That 72 month deal is all well and good but the vehicle will depreciate from its market price, not the MRSP and for much of the 72 month period you will owe considerably more than the vehicle is worth. You are thus stuck with that vehicle for probably all of that 5 years. We typically take a lease over a shorter period - 3 or 4 years & yes we're locked into it for that time but the assessment of outgoings vs. value works for us. YMMV may vary of course.
