Discussions

Looking at upgrading my vehicle shortly and someone suggested that I look at leasing instead of buying or getting another car loan. So I am basically looking for the pros and cons of both as I know nothing about leasing and like to be somewhat informed so I can maybe figure out what is best for me

I leased once and would never do it again! Its great in the way the payments a month are cheaper but after your lease term is up either give it back or purchase it out right. After a 4 year lease with mine I chose to give it back as I could get a newer model for cheaper than the purchase price that was left owing. But they charge you for everything. I ended having to pay an extre 1700 when giving it back cause of stone chips in the paint on the hood a stain on the back floor mat the size of a thumb print. Plus after giving it back, unless you've saved during the lease period you have no money towards a down payment of a new/ new to you vehical. Needless to say I'd never lease again. Its not for me but some people like it as you can get a new vehicle every 2-4 years

Leased my new vehicle through Hyundai (Fowlers).  
 
We have only leased one other time and the experience forever severed our dealings with GM it was so awful.  
 
I found the team at Fowlers to be very informed, and made things easy for us to understand. Leasing has been very out of favour for quite a few years now and companies are fixing the way they do things to get people back into leases as a result.  
 
For people who take care of their vehicles - ie maintenance, low kms and fix ups when needed, leasing can be very good. They were able to get me the zero financing through a lease that they could not while financing outright due to us being self employed.  
 
Hyundai also has a pretty decent bumper to bumper care warranty you can purchase that fixes things like paint chips and scratches in the interior - so we shall see in 2-1/2 years when it comes time to trade it in if that five hundred dollar purchase was worth it or not.  
 
I cringe to think that due to the bad experience with GM leasing, but the people at Fowlers know I take care of my vehicles so I am the kind of driver they WANT leasing cars as I will return a car hypothetically in great shape with higher resale.  
 
My accountant has said the tax implications of purchase vs leasing for us in our situation are no issue, that may be a factor for you.  
 
It really will depend on you and your situation to know what is best.  
 
I will highly recommend Bob Simmerson and the team at Hyundai though - I have never had such great service from a car company.

if you own a business, lease a vehicle. IF you dont then  
buy or finance it.

I have leased many vehicles over the years-it is a good option. Think of it like renting and apartment versus buying a home. Just take the time to do some research (on line or with different dealers) to determine which is right for your needs

I have leased my last 2 vehicles from Kellehers, Traded them in 1 month prior to end of my lease and actually received more for trade than what my buy out would have been.  
Take out a lease for the same term as the bumper to bumper warranty, then no additional maintenance costs unless you exceed the mileage.  
Just make sure you know your expected KM's as the $/km overage charges can add up quickly...