CAA Manitoba Spring 2018 - Page 27

auto IQ Buy, Lease or Finance? How to determine which option is right for you By Mark rIChardson In Canada, there are three ways to buy a new vehicle: Pay in full upfront, finance it with a loan or lease it through monthly payments. With pros and cons to each, which is best for you? Rich Pentney, sales manager at Murray Chevrolet Cadillac Buick GMC in Brandon, says the choice is evenly split for more affordable cars, with probably one-third of buyers at his dealership choosing each option. But, he adds, more expensive cars tend to be leased—nearly three of every four Cadillac buyers prefer leasing. And that proportion can be as high as 90 Pros and Cons The good and bad about car-buying options percent for other premium brands. Leasing is often the better choice for people who buy a premium car as they’re more likely to trade it in sooner, usually after just a year or two. “They want to have the latest and greatest,” Pentney says. It’s also the cheapest choice, month- to-month, for any car. Leasing is cost-effective since you don’t pay for the car—just the time you have it. But it comes with one big drawback: You’ll never actually own the vehicle while you lease it, and at the end of the contract, you must either p &VFWFW&֖VB&FRF'WB"W7@BB&6BvƲvvFFr6vRRv( BFRBFRFW&V6FFBWrfV6W0WW&V6RFRf'7BfWrV'2@^( WW&V6R֖&W WV6W2^( v2&RrFǒVBbR66RF6FVRV6rWr6"f6rFRFW"BvfR&vW"FǒVG2&V6W6P^( &RrFvFRfV6RWBЧ&vBfW"FRW&BbFRFPvW"FRVwFbW"FRW70RfRFV6F&V6W6PFRVG2&R7G&WF6VBWBfW"w&VFW"FRN( 2BV6pFvWBf"6WfV"VvBV'2WfVBrFW&W7BvWfW"7V6rFW&26&rRFvFV'B6RG&fW'2v&RFVFVBF'W&6W"fV6RFFW6&Vǐff&B'WFVFrFV"VG2f Gv"F&VR&RV'2W2vW ֖vBV^( &Rrf FR6"gFW"G2v'&G2W&VBv6V2^( &Rrf FV6R67G2BFR6RFRf6Gf6'2&V6V@&RFF&VRV'2f"FPfW&vRF&vB&WBrf"fV6RWBЧ&vBvF66b^( fRvBFRWFR&( Fvf"B'WBvFFF( 0rFW&W7B&FW2BFRFW&V6F&FW2bWr6'2V6rBf6pgFVR&Rf66V6R( ĖגFN( 2vVW&Ff֖ƖW2BWBЧ&vBf"6'266v2r( VFW62( 6WvW&RFR7BffRV'2vRFRGW&Brf6pBV6r&Rw2( Хv6WfW"FR66R'V6RWBVFR&FR%WWG$vBd6RV6P&3FW&W7BVG3RvFR6.( 2WVG&3RvFR6"@FRVBbVG3V֖VvRƖ֗G2&36VW"FǐVG36W G&FR֖63Rf"FPVF&R6"6VFrFVrvW"VG263RF( BvFP6"W7BFRW6Rb@63RVVBFR66FR&F7F'CR6V@6fR&RbRfW7BFPW6fw266V@4D$7$r##p