One of the big advantages that leasing a new car has over financing a new one  is the payment. When you finance a new car you are paying for the whole car, all the taxes and fees. 

With a car lease your payment is based on the amount of car you will be driving over a set period of time. You are paying taxes on a car lease, however, the taxes pertain to the payment not the car as it does when you are financing.

One big question that comes up a lot is lowering the payment by putting money down. On a finance it makes a little more sense. The whole point of financing a car is because you plan on keeping the car for a while.

For a lease and if you were at my desk, I would certainly advise you to rethink it, especially if you were planning on putting a sizeable amount down. That large sum down would be more beneficial to you if you were to finance. With a lease that money down is only lowering the payment, if you are comfortable with the payment as it is, then leave it and keep the money in your pocket where it belongs.  

When your car lease is up you have two options available to you:

1. You can decide to give the car back and get into another vehicle.

2. You can decide to do a lease buy out instead where you are planning on keeping the car.

Before you make the hard-fast decision about  a lease buy out, read through this so that you know what to expect and do you homework!

What Is The Lease Buy Out?

When you initially signed the lease contract you were provided with the lease buy out value … what you would have to pay for the  car if you decided to keep the vehicle. Keep in mind that the value is before tax and also keep in mind that the lease buy out value is NOT negotiable. The price is the price. It doesn’t matter if this is your “x” number of vehicle with the brand, the price is the price. (more…)

At the North American International Auto Show in Detroit, Volvo Car Corporation will present a battery-electric Volvo C30 with a range of 150 km. The show car represents the first step toward building a test fleet of at least 50 electric Volvo C30s that will be on the road in 2011.

Volvo Cars first presented a basic, driveable electric car prototype in September, 2009. The C30 to be shown in Detroit takes the company one step further in the development process as this vehicle features a complete interior, full instrumentation and as well as enhanced battery packaging. (more…)

• Ontario’s GO offers holiday transit options

December 15, 2009

• The Honda Civic is still the most stolen vehicle in Canada

December 10, 2009

• Volvo awards XC60 in Twilight contest

December 13, 2009

When people come into our dealership looking to buy a new car, a great many overlook the possibility of getting into a demo.

A demo model is one that has been driven by a sales person or management and has kms on it. How many typically depends on the dealership, you will find kms on a demo anywhere from 7,000 kms or over.

A demo that is within the same model year is still eligible for all the manufacturer programs and incentives. On top of that you can save on some of the fees like; fuel tax, air tax, PDI and freight. In some cases that could save you $1500 or more, again depending the dealer group and their policies.

It is a very viable option for you, especially if you want to benefit from the savings and don’t mind the fact that it has kms on it.

Keep that in mind when you are looking to buy a new car and don’t forget to ask the dealer if they have any demo models!

Image by harry_nl via Flickr