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Mon 7:30am - 5:00pm
Tue 7:30am - 9:00pm
Wed 7:30am - 5:00pm
Thu 7:30am - 9:00pm
Fri 7:30am - 5:00pm
Sat 7:30am - 4:00pm
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1800 Toyo Circle, Mississauga, ON, L4W 0E7

Leasing vs Financing

Leasing vs. Financing

Once you have found your perfect vehicle match, and organized a loan, the final big decision arises: leasing or financing.

Breathe easy knowing there is no "right" or "wrong" solution to payment, rather pros and cons for each unique buyer. A decision can be made by evaluating personal financial situations, preferences and driving habits.

Let's break down this decision by answering some questions most buyers have, and should ask themselves upon car shopping.

Firstly, what is the difference between leasing and financing?

Financing is paying the total purchase price of your vehicle over time, in consistent monthly payments. This makes it more manageable to afford the purchase of a car, with the end result being ownership of your vehicle.

Leasing is making consistent payments, (bi-weekly, monthly) to drive and keep the vehicle for a long term amount of time. Included in the lease payment is the cost to use the vehicle and the amount of depreciation occurred as the vehicle is in your possession. At the end of a lease term, you must return the vehicle to the dealer, or utilize the option to buy. You can do this by paying out the residual value, or "value remaining" on the vehicle you were leasing.

Financing

When should I lease?

What are the Advantages to leasing?

  • Driving a more expensive vehicle, with lower payments and little to no down payment.
  • The vehicle included factory warranty offers lower repair costs.
  • More flexibility with new vehicles every few years.
  • At the end of the lease, no trade-in troubles apply.
  • Less sales tax.

When should I finance?

What are the Advantages to financing?

  • The financing payments make the vehicle "yours" and therefore, the vehicle can be modified as you like.
  • Purchasing a vehicle saves money if compared long term to leasing (several years).
  • No excess mileage penalty allows kilometres and travel to be a non issue.
  • The freedom to sell the vehicle at any time.

 

Now that you fully understand the differences between the two options, In the end, choosing to finance or lease should be based off your driving needs, payment plans and personal preferences.

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Established Credit

My credit is fine, I have credit cards, a mortgage or have financed other vehicles in the past.

  • Existing credit
  • No defaults

Apply

Rebuild Your Credit

I'm working at rebuilding or repairing my current credit rating to allow me the lowest rates possible.

  • Credit Repair
  • Bruised credit

Apply

Car Loans in Sherwood Park| Auto Loans in AB

Finance professionals

Sherwood Park Hyundai will get you the best available rate on a car loan in the Sherwood Park area. You can qualify for an auto loan for your used car at an affordable rate, regardless of what your past or current credit situation is. Good credit, no credit or bruised credit, special financing is available for everyone.

Give the finance team at Sherwood Park Hyundai a call or visit us at 41 Automall Rd. You can also contact us by filling out our credit contact form and starting your credit application process. We look forward to serving your Grande Prairie auto financing needs.

We have a dedicated team of long-term finance professionals who offer a wide variety of options to suit your financing needs. They work with you to find the best terms and finance rates available.
divider

Purchase Financing from Leading Financial Institutions

We offer automotive purchase financing from various lending institutions including:
RBC Royal Bank
Scotiabank
BMO
TD Bank
Sherwood Park Hyundai maintains a comprehensive lineup of used cars, trucks and SUVs from auto manufacturers. Come into our Family Friendly Dealership located at 41 Automall Rd in SHERWOOD PARK, AB, Sherwood Park Hyundai strives to maintain the best and most comprehensive inventory of Pre-Owned vehicles.

Remember to browse the Used Specials for up-to-date promotions, or check out Sherwood Park Hyundai's Featured Vehicles, highlighting select vehicles from our entire inventory. If we do not currently stock your ideal vehicle, simply complete the CarFinder form and Sherwood Park Hyundai will begin the search!

Selection of used inventory: Hyundai Elantra,, Santa Fe, Toyota RAV4, Dodge Ram and many more!

If you cannot find your ideal vehicle in our current pre-owned inventory, check out our handy CarFinder tool. After specifying a search period (1 to 8 weeks) and providing vehicle details, we'll begin the search process for you and send you a notification when a matching vehicle arrives in our inventory.

**No payments for 90 days means payments deferred not skipped. Full term payments are still required to be paid in full to satisfy the terms of the finance contract. Payments would commence 90 days after the contract start date. Interest accrues during the payments free time based on the contractual terms and must be satisfied regardless if full payments is made at any point.

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Established Credit

My credit is fine, I have credit cards, a mortgage or have financed other vehicles in the past.

  • Existing credit
  • No defaults

Apply

Rebuild Your Credit

I'm working at rebuilding or repairing my current credit rating to allow me the lowest rates possible.

  • Credit Repair
  • Bruised credit

Apply

Car Loans in Sherwood Park| Auto Loans in AB

Finance professionals

Sherwood Park Hyundai will get you the best available rate on a car loan in the Sherwood Park area. You can qualify for an auto loan for your used car at an affordable rate, regardless of what your past or current credit situation is. Good credit, no credit or bruised credit, special financing is available for everyone.

Give the finance team at Sherwood Park Hyundai a call or visit us at 41 Automall Rd. You can also contact us by filling out our credit contact form and starting your credit application process. We look forward to serving your Grande Prairie auto financing needs.

We have a dedicated team of long-term finance professionals who offer a wide variety of options to suit your financing needs. They work with you to find the best terms and finance rates available.
divider

Purchase Financing from Leading Financial Institutions

We offer automotive purchase financing from various lending institutions including:
RBC Royal Bank
Scotiabank
BMO
TD Bank
Sherwood Park Hyundai maintains a comprehensive lineup of used cars, trucks and SUVs from auto manufacturers. Come into our Family Friendly Dealership located at 41 Automall Rd in SHERWOOD PARK, AB, Sherwood Park Hyundai strives to maintain the best and most comprehensive inventory of Pre-Owned vehicles.

Remember to browse the Used Specials for up-to-date promotions, or check out Sherwood Park Hyundai's Featured Vehicles, highlighting select vehicles from our entire inventory. If we do not currently stock your ideal vehicle, simply complete the CarFinder form and Sherwood Park Hyundai will begin the search!

Selection of used inventory: Hyundai Elantra,, Santa Fe, Toyota RAV4, Dodge Ram and many more!

If you cannot find your ideal vehicle in our current pre-owned inventory, check out our handy CarFinder tool. After specifying a search period (1 to 8 weeks) and providing vehicle details, we'll begin the search process for you and send you a notification when a matching vehicle arrives in our inventory.

**No payments for 90 days means payments deferred not skipped. Full term payments are still required to be paid in full to satisfy the terms of the finance contract. Payments would commence 90 days after the contract start date. Interest accrues during the payments free time based on the contractual terms and must be satisfied regardless if full payments is made at any point.