Lease vs Finance Comparison
Compare leasing and financing side-by-side to make the best decision for your situation
Vehicle Details
Financing Options
Typical: 6-8% for new cars
Leasing Options
Typical: 3-6% for leases
30% of price
💰 Financing (Loan)
Monthly Payment
$686
for 60 months
You Own It: After 60 months, the car is yours!
🚗 Leasing
Monthly Payment
$464
for 60 months
Payment Breakdown
Return or Buy: Option to purchase for $10,500 at end
💡 Comparison Summary
Monthly Payment Difference:
Loan
$686
Lease
$464
Leasing saves $222/month
Financing Advantages:
- ✓ You own the car after 60 months
- ✓ No mileage restrictions
- ✓ Can modify or customize
- ✓ Build equity in the vehicle
Leasing Advantages:
- ✓ Lower monthly payments
- ✓ Drive new car every few years
- ✓ Always under warranty
- ✓ No resale hassle
5-Year Total Cost Outlook:
* After 60 months, if you financed, your car may be worth ~$10,500
Still Not Sure? Here's a Simple Guide
Your Priority
Lease if: Low monthly payment matters most
Finance if: Long-term value and ownership matters
Your Driving
Lease if: You drive <20,000 km/year
Finance if: You drive >20,000 km/year
Your Timeline
Lease if: You want a new car every 3-4 years
Finance if: You keep cars for 5+ years
💡 Pro Tip: In Canada, most people who lease do so for the lower monthly payments, while those who finance value ownership and no mileage limits.