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Should I Lease or Buy a New Car in Hannon?

Should I Lease or Buy a New Car in Hannon?

If you’re in the market for a new car, you typically have two options, leasing or buying. Both have benefits and both work well in different situations. So, should you lease or buy a new car?


Our Hannon auto loans team explains whether you should lease or buy a new car by listing the pros and cons to each.


Pros of leasing a new car in Hannon


There are definite upsides to leasing a new car.


Lower monthly payments – Car leases are typically cheaper than the average auto loan per month. This can be a deciding factor for some.


Drive a new car every 2-3 years – If you like driving new cars or having the latest model, leasing lets you drive a brand new car every 24-36 months. Changing a car that often is much easier with a lease.


No warranty or maintenance worries – As you’re constantly driving a new car, you’re driving under the protection of a warranty. Some leases also include all servicing and maintenance too.


Cons of leasing a new car in Hannon


There are areas where leasing isn’t the ideal option and where buying comes into its own.


You’re buying an asset – Leases are rentals and you end up owning nothing. Buying a car means you’ll end up with an asset that’s worth something. When it comes time to change up, you can trade in your old car as part payment on the new.


No end of lease handover or fees – Ask anyone who has ever leased a car and the handover is their least favourite part. The inspection and inevitable fees are always something to dread. No such thing when you buy a car!


Your car, your way – Once the car is paid for, it’s yours to do with what you want. You could customize it, personalize it, drive as many miles as you want, take it overseas, change the colour or anything you like!


As you can see, there are pros to leasing and to buying and one will likely suit you better than the other.


If you drive a lot of miles, want to personalize your car or buy something tangible, purchasing may work best for you.


If you like driving new cars all the time, like the idea of not having to worry about maintenance or servicing and don’t drive so many miles, a lease might work out best.


Either way, our Hannon auto loans team can help. We can help you find a competitive lease deal or an auto loan. It’s all part of the service!


We will use all our skill and experience to deliver the lowest possible Hannon auto loan rates, guaranteed. Contact Car Nation Canada Direct to learn how we can help.


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