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Is it better to finance or lease a car in Canada?
Financing — you own the car once paid off; no kilometre limits; higher monthly payment.
Leasing — lower payment; typical limits of 16,000–24,000 km per year with charges of roughly 8–20¢ per extra km; wear-and-tear charges at return.
If you drive a lot, modify vehicles, or keep cars for a long time, financing wins. If you want a new car every three years and drive modestly, leasing can make sense. Use our auto loan calculator to compare the monthly payment on a loan.
Related Questions
Is it better to finance or lease a car in Canada?
Financing usually costs less over time if you keep the car more than 4–5 years. Leasing gives lower monthly payments and a new car every few years, but you never build equity and mileage limits apply.
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