According to Garry Speranza, Sales Manager at Capilano VW, the option of leasing a vehicle vs. buying one has never been so competitive—or compelling.
"Even though we often have amazing financing offers, such as our current Volksfest promotion of 0% financing for up to 84 months on select vehicles, leasing is still a popular option," he points out.
Garry and his colleague, Shaun Openshaw, Assistant Sales Manager at Capilano VW offer five reasons why people often consider leasing a vehicle instead:
1. It's an opportunity to try out a vehicle: "You have the option at the end of the lease to decide if that vehicle is right for you," explains Shaun. "If it is, you have the option of moving into another lease and driving a newer model."
2. You can buy-out the lease: Buying-out the lease at the end of the term means you're buying a used vehicle that you know has been well-cared for over the past three or four years.
3. No depreciation concerns: "If you have a lease," Garry says, "and someone hits you and causes, say, $10,000 worth of damage to your car, you no longer have to worry about the long-term impact on your car’s value. Instead, you just drop the vehicle off at the end of the lease. When you own the vehicle, any accident is going to impact the price of the vehicle when it’s time to sell it.
4. Low monthly payments: Lease payments usually work out to be lower than loan financing. "With a $400 lease payment, for example," Shaun explains, "you can get a high-spec car with more options—such as leather seats—for a much lower monthly payment over the same term. If you finance, you'd have to go to a much longer term to get the same payment. For instance, on a five-year financing term that same vehicle might cost you $600 or more."
5. It’s ideal for students: Often, parents are looking to buy a used car for kids heading off to university. "Maybe they want to spend $10,000-$15,000 on a used vehicle," says Shaun. "If they put that into a lease over four years, their son or daughter can be driving a brand new, zero kilometre vehicle that they know is going to be reliable and safe. Conversely, with a used vehicle, you may not know it’s history—and you may get stuck with a large repair bill down the road."
For more information on leasing options at Capilano VW, call 604.985.0694, send them an email, check out their website or visit their showroom at 1151 Marine Drive, North Vancouver. Capilano VW can also be found on Facebook and Twitter.