Lease or Buy

Leasing or Buying in Smiths Falls, Ontario

If you want a vehicle from us at Mike Fair Cadillac you have a few options that you need to consider, chiefly, leasing or buying. Leasing offers payments lower than the purchase of the vehicle, but for a set amount of time that you drive it, while buying is an outright ownership purchase of the vehicle. Read below to help decide which path may be best for you!

Benefits of Leasing
at Mike Fair Cadillac

Leasing provides affordable payments with shorter terms. Under a lease from our GM Financial team, you won’t be as constrained by the overall price of a vehicle, since you’re only paying what you’re using, as opposed to outright buying it.

Is Leasing Right for You?

  • You’ll be able to consider a wider range of vehicles with more options.
  • Sick of your vehicle? You can trade it in for the latest model more frequently.
  • Have peace of mind with the lease term matching up to the factory warranty period.

"Should I Lease?" Checklist

Ask these prompts to yourself when deciding if leasing is for you, if you find yourself agreeing with these statements, leasing may be perfect for you:

  • Leasing a new vehicle at a comparable price to a pre-owned vehicle is appealing.
  • I may be able to include more add-on options than I could afford if purchasing.
  • I prefer a lower bi-weekly or monthly payment plan.
  • I want to drive the latest model every few years.
  • I drive a set number of kilometres each year.

Benefits of Buying
at Mike Fair Cadillac

When you buy a vehicle it means the vehicle is all yours to do what you want with. That includes several key advantages that illustrate your freedom:

  • You own the vehicle outright.
  • The vehicle is registered under your name.
  • You can trade your current vehicle to add to your down payment.
  • You can keep your vehicle for as long or short as you wish.
  • There are no kilometre restrictions, drive as far as you want.
  • There are no wear and tear limitations, drive it as hard as you want.
  • You may alter your vehicle any way you wish, customize to your heart’s content.

Factors to Buying a Vehicle

  • Up-front Costs: Costs like registration fees, down-payment and others are all your responsibility.
  • Monthly Payments: Usually higher than lease payments because you’re paying for the entire vehicle.
  • Wear and Tear: Any breakdowns or repairs outside of a factory warranty are up to you to get fixed.
  • Vehicle Responsibility: Once paid off, it’s up to you to sell or negotiate a trade-in price.
  • Unlimited Kilometres: You can drive as far and hard as you want, but its resulting condition may affect resale value.

If you have any further questions about leasing or buying, or trying to decide which route is best for you, don’t hesitate to reach out to us at Mike Fair Cadillac.