The Original Applewood Motors
19820 Fraser Hwy, Langley, British Columbia, V3A 4C9
(604) 670-4765 Toll Free 1 888 381-2522

Should I Lease or Buy My Vehicle?

Every month The Original Applewood Motors sees hundreds of customers, and many come to us with the same question: what’s the difference between financing and leasing?

Sadly, most other dealerships don’t do a very good job of explaining the difference between these two types of financial plans and which one works best for your situation. Thankfully, Original Applewood Motors has put together this simple breakdown of the two so you have a better idea which one works best for your situation.

Helping our customers make difficult decisions is just one more way we try to stand out when it comes to service in Langley and Surrey.

Lease or Finance? Depends on Your Preferences

There are several advantages to both options, and determining whether you should lease or purchase your next vehicle all comes down to your needs. Here is a breakdown of the advantages of each option so that you can see which makes more sense to you.

Leasing

Advantages:

  • A new vehicle every two to three years
  • A lower monthly payment
  • The latest vehicles and the protection of a warranty

Leasing will, therefore, be the perfect option if you have:

  • A stable, predictable lifestyle
  • To drive an average number of miles each year
  • No problem maintaining your vehicle

Financing

Advantages:

  • Complete ownership of the vehicle
  • Can benefit from vehicle’s resale or trade-in value
  • The ability to customize the vehicle

Financing will, therefore, be the perfect option if you have:

  • To drive an above-average number of miles each year
  • Possible lifestyle changes in the future

In the end, if you’re looking to constantly drive the latest and greatest vehicle for a shorter period of time before returning it to upgrade to the next vehicle, then leasing will work best for your situation.

On the other hand, if you’re looking to own your vehicle but simply don’t have all the cash to pay for it outright, then financing is the better option. Not only will that vehicle be yours to keep once the financing is paid off, but you can customize it to your heart’s content! Either way, contact our Finance Department, and our team of financing specialists will be more than happy to help set up your financing or leasing plan.

Which Option is More Affordable ?

This is another question we get asked on a consistent basis, and the answer is: it depends. Leasing is typically cheaper in the short term thanks to lower monthly payments and fewer initial fees. However, leasing is designed for you to ‘own’ the vehicle only for a few years, meaning that over time financing becomes less expensive as you pay off the vehicle.

In the end, which financial plan is cheaper ends up being determined by what you intend to do with the vehicle and how long you intend to own it for. If you’re still not certain which would work best for you, contact our finance department today at 604-670-4538. We'll be happy to help you make a decision between financing and leasing your next vehicle.

To Speak With Us
(604) 670-4765