Roughly 200,000 cars are sold every month in Canada. Most of the customers that are buying these vehicles must make one big decision, whether to lease or finance the vehicle.
While leasing and financing have some similarities, they are actually very different methods of owning a vehicle. When financing, the majority of times you are in a 5, 6, or 7-year contract. However, at the end of the contract, you do own the vehicle. Leasing, on the other hand, you have the vehicle for a shorter-term usually 3 or 4 years with the option of buying it out or leasing another vehicle at the end of the contract. This allows you to have the option to upgrade vehicles sooner as your lifestyle can easily change in 3 or 4 years.