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jeffrey · 03-20-2007, 07:42 PM

How long are you going to keep the car for?
If your answer is 4 years or less then lease the car.

Leasing is paying for the part of the car you use over those years.

I'll always lease. That way if the resale falls through the floor you arent stuck with it, and if its higher then the buy out then sell it and use that money as a downpayment on the next car, or to have a night on the town.

If you buy a 40k car, finance over 4 years you would pay 833 a month.
after 4 years you sell that car for 20k.
Or you can lease that car, and pay 416 a month, and in the end give them the keys back.
Thats with 0% interest and no tax, but you get the idea. It just gets complicated when you start putting tax and interest rates, but in the end it works out close enough to the same for me.

Leasing would allow you to say, double up your RRSP contributions, or well whatever you wanted.

03-20-2007, 07:42 PM
jeffrey Confirmed User Industry Role: Join Date: Jul 2004 Location: Alberta Posts: 1,864	How long are you going to keep the car for? If your answer is 4 years or less then lease the car. Leasing is paying for the part of the car you use over those years. I'll always lease. That way if the resale falls through the floor you arent stuck with it, and if its higher then the buy out then sell it and use that money as a downpayment on the next car, or to have a night on the town. If you buy a 40k car, finance over 4 years you would pay 833 a month. after 4 years you sell that car for 20k. Or you can lease that car, and pay 416 a month, and in the end give them the keys back. Thats with 0% interest and no tax, but you get the idea. It just gets complicated when you start putting tax and interest rates, but in the end it works out close enough to the same for me. Leasing would allow you to say, double up your RRSP contributions, or well whatever you wanted. __________________ Coming Soon!