How much does it cost to lease a car in ontario

What is car leasing?

Car leasing is a popular way of financing a vehicle. Instead of owning the car outright, when you lease a vehicle, you commit to hiring it for an agreed-upon amount of time at a set monthly or annual price.

These long-term rental agreements typically last between 3 and 5 years. During this time, you’re effectively paying for the depreciation of the vehicle before handing it back to the leasing company.

10 reasons not to lease a car

In this article, we’ll answer questions like “How does leasing work in Canada?” before sharing the tips and tricks you need to avoid paying over the odds.

Why consider car leasing in Canada?

Leasing is a popular way to finance car use in Canada.

In the past, leases accounted for between 60% and 80% of car finance deals. However, rising interest rates and the cost-of-living crisis mean that fewer Canadians are buying used cars. Despite this trend, leasing is not going anywhere because of the following benefits.

• Leases allow you to drive a new car every few years.
• You don’t need as large a downpayment to f
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  how does leasing work in canada