FINANCING VS. LEASING IN VANCOUVER
|Taxes at 12%||N/A||$5,400|
|Total amount to be financed||N/A||$50,400|
|Lease End Value||$20,000||N/A|
|Term||48 mo.||48 mo.|
|Monthly payment at 8% before taxes||$738.73||$1,230.41|
|Monthly taxes owing||$88.65||N/A|
|Total monthly payment||$827.38||$1,230.41|
|Total monthly savings||$403.03||N/A|
As you can see, one option isn’t necessarily better than the other and whatever you choose depends on your situation. If you want to save money on your monthly payments, avoid nasty out-of-warranty repair costs, and you like the idea of driving a new vehicle every few years, leasing is a great choice.
On the other hand, if you like the idea owning your vehicle, you don’t want to be financially responsible for any significant wear and tear that may happen, or you plan on putting a lot of mileage on the vehicle, financing may be the better option for you.
Still, there are lots of things to consider when deciding whether to buy or lease, so feel free to call us at our Finance Department at 604-256-5673 or stop by and visit us! We offer the finest vehicle financing and leasing options to those in the Vancouver, Richmond, Burnaby, West Vancouver, and Coquitlam, British Columbia regions. You can also learn more about the benefits of leasing a vehicle with Toyota by visiting the Toyota Lease Advantage