Choosing whether to lease or purchase your new vehicle can be a difficult decision. Both options have their advantages but finding the right option for your pocket book will depend largely on your individual lifestyle. John Roth, vice president of sales, service and marketing at General Motors of Canada offers some insight and comparisons between leasing and buying: Leasing periods typically last two to three years. This is a good option for those who like to switch to new vehicles frequently.
Depending on the type of leasing contract, regular maintenance may be included under the contract.
Leasing contracts include a limit on kilometres. Leasing may not be the best option for drivers who regularly drive long distances.
On the other hand, ownership means you'll have the vehicle for a longer period of time. This is a good option for those who like to keep their vehicle for longer periods of time.
Owners of vehicles are fully responsible for the cost of regular maintenance.