Lease vs finance

Leasing a vehicle:

• Pay for what you drive. You only pay for the portion of the vehicle that you drive.
• Down payments can be lower depending on the term.
• Newer Sooner. Drive a new vehicle every two to three years.
• Warranty Worriless. Many lease terms are the same length as the manufacturer's warranty.
• Pay less tax. You only pay the sales tax on the portion that you use.
• Monthly payments may be lower with a Lease.
• Depreciation protection from large accident repairs. When you go to trade your vehicle in with a Finance contract you will get less for your trade if it has a large repair claim through insurance. With a lease General Motors takes the hit when you turn the vehicle in.
• At the end of a lease, you have the option to turn the vehicle back into General Motors and lease another new vehicle or you can purchase the vehicle if you would like to keep it.

Financing a vehicle:

• Typically, customers that plan to own the vehicle for a longer period prefer to finance vs lease. i.e 60 to 84 months vs 24 to 36 months for a lease.   
• There are no Kilometer allowances when financing.
• Financing through the dealership is available through all national banks.
• You can pay off your loan at any time without penalty.
• The only collateral is the vehicle itself.
• Different options and terms are available for your credit rating. Banks can compete for your business and offer preferred interest rates vs what your personal bank can offer, this can save you money.
• Approvals are done at the dealership and are much faster than through your own bank.