Quote:
Originally Posted by Tcoat
Also leasing to keep the car is a bad, bad financial call.
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With the deals in Canada, leasing is the best option for keepsies.
Leasing and Financing was the same interest rate when I bought mine. @0.9% I'd rather defer as much payment as possible because...0.9%. Though there is a $495 lease paper work, the fact that if I got into a major accident during the lease that significantly decreased the value of the car, I have the option to give the car back at the residual (option is always better than no option). Lastly, if I do give it back or transfer lease, I only paid tax on the depreciation, not the full amount. I would rather lease than finance given the above trade offs.
At the time, there was a $1000 cash incentive which meant the informational rate was I believe 2.64%. That is still fairly low, and like someone else mentioned, I'd rather have my cash in the stock market or for a rainy day.