Dealership hours of operation
Mon - Thu 7:30am - 7:00pm
Fri 7:30am - 6:00pm
Sat 8:00am - 5:00pm
Sun Closed
Dealership hours of operation
Mon - Fri 7:30am - 5:00pm
Sat 8:00am - 4:00pm
Sun Closed
Dealership hours of operation
Mon - Fri 8:00am - 5:00pm
Sat 8:00am - 4:00pm
Sun Closed
413 Lantern Street, Red Deer County, AB, T4E 0A5
My Garage

Leasing A Vehicle

What are the benefits of leasing a car, SUV or truck?

  • When leasing a vehicle, the main benefit is a lower monthly payment than financing. Some people who can afford to purchase a vehicle outright will actually choose to lease instead.
  • You drive the vehicle during its most trouble-free years. Often major maintenance that is needed during a car's lifecycle will happen after the vehicle lease term. Things like timing belts, for example, are typically required after 100-140 thousand kilometres*.
  • Having a nicer vehicle compared to what you would be able to afford if financing. Maybe you don't want to deal with a cold steering wheel when the weather drops well below freezing, which is typical for Red Deer, or perhaps you would like to be able to park your vehicle safer with a 360-degree camera system.
  • When you usually trade-in your vehicle, the car's worth can fluctuate dependent on the current market. When leasing, you don't need to worry about the fluctuating price at trade-in or go through the hassle of selling the car, truck or SUV.
  • If you are a business owner or self-employed, there also tax advantages that you might take advantage of. For instance, you can deduct up to $800 per month plus GST, which works out to an annual total of $9,600 (Make sure to check current tax incentives that apply to you).
  • At the end of the lease, you can drop the car off at the dealership. Maybe the vehicle was not right for you, or it didn't have the space you think you needed. When leasing, you aren't tied to the car for the long term.

FAQ About Leasing:

Q: Does leasing a car increase your insurance?
Leasing a car does not increase your insurance cost. You are required to protect the asset (the vehicle) you are leasing and are required to have collision and comprehensive insurance.
Q: Does leasing a car help your credit?
One of the biggest advantages is the positive impact leasing a car can have on your credit. Keep in mind this advantage only comes if you are making your payments on time.
Q: What does residual value mean?
The residual value is the market value of the leased asset (the vehicle) after the lease term has ended. Basically, it is the price of the car if you wish to purchase it after your lease period.

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