{"id":868142,"date":"2020-07-15T18:20:39","date_gmt":"2020-07-15T22:20:39","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=868142"},"modified":"2026-03-09T18:29:55","modified_gmt":"2026-03-09T22:29:55","slug":"should-i-lease-a-car","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/car-loans\/car-leasing\/should-i-lease-a-car","title":{"rendered":"Should I lease a car?"},"content":{"rendered":"

Leasing continues to be a popular option for many young drivers. If you’re on the fence, start by considering whether the flexibility outweighs its overall high cost.<\/p>

6 reasons why you may want to lease a car<\/h3>

If you like the sound of these six features, leasing may be for you:<\/p>

1. Flexibility<\/h4>

A lease is going to give you the most flexibility with the least hassle. You can change the type and size of your car as your needs change. And the more you lease, the more you save.<\/p>

Love a manufacturer? You may be able to score a loyalty bonus. Want to change brands? Competitors often offer a conquest bonus to people who switch from a qualified lease. You might not get the same kinds of discounts when you buy.<\/p>

2. Newest technology<\/h4>

Vehicle technology is updated each model year. Leasing lets you take advantage of changes in infotainment systems, safety regulations and design.<\/p>

Think about the rise of bluetooth and Wi-Fi hotspots. Only luxury trims had them in the beginning, but now every car comes equipped.<\/p>

If you want to be part of the next trend, a lease gives you the opportunity \u2014 without needing to buy the most tricked-out trim available.<\/p>

3. Lower monthly payment<\/h4>

It’s no secret that leases are cheaper in the short term. Because you’re only paying for a portion of the car’s ownership and depreciation, you’ll pay less than if you’d financed. This is especially true for luxury cars. The high price point combined with high depreciation make leasing a much more appealing option for drivers seeking an expensive ride.<\/p>

But don’t forget \u2014 leasing will always cost more money in the long run. You should compare the costs between leasing and buying to see which option makes more sense for your preferences and lifestyle.<\/p>

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\nRelated: <\/span>How much car can I afford based on my salary?<\/a>\n<\/div>\n<\/article>

4. Tax deductions<\/h4>

If you own a business that involves a lot of driving, leasing may be a good option. The CRA allows you to deduct a portion of your monthly lease payments. But the tax deductions are best for luxury brands, so choose the car you work with wisely.<\/p>

5. Less maintenance<\/h4>

Many manufacturers offer discounted or free maintenance programs, saving you hundreds of dollars over the life of your lease. Maintenance and repairs are a major competent of the cost to owning a car<\/a>. If your lease includes free maintenance, you could end up saving a lot of money.<\/p>

Even if yours doesn’t, you’ll still save. Cars require more maintenance and repairs as they age. If you’re switching things up every few years, you won’t have to keep up with rising maintenance costs.<\/p>

6. Warranty and maintenance coverage<\/h4>

Because a lease will only last two to four years, your car will be covered under the manufacturer’s bumper-to-bumper warranty. This means you won’t be on the hook for any mechanical problems that crop up. Even better, you won’t need to worry about things like extended warranties.<\/p>

Why leasing may not be the best idea<\/h3>

Leasing is a great choice for some \u2014 but it has its fair share of downsides, too:<\/p>