You are here

Leasing a Car - Prevent problems

Prevent problems

Step 1. Ask questions

When you lease a vehicle, just as when you buy one, its cost is negotiable and based on a variety of factors. Here are some questions to keep in mind or ask the dealer as you negotiate the lease.

Topic Questions to ask
Ownership

What would be the total cost to buy the same vehicle and finance the purchase instead? 

Monthly payments

What is the total financial obligation of the lease, including the cost of all lease payments, plus all taxes, fees, and any down payments?

Early termination

Can I terminate the lease before the end date and are there penalties or additional charges if I do?

Mileage

How is extra mileage defined and how much will I have to pay per kilometre?

Excessive wear and tear

What is excessive wear and tear that will make me liable for expenses at the end of the lease?

At the end of term

Is there an option to buy the vehicle at the end of the lease? 

Step 2. Read and understand the lease

Before you sign the lease, make sure that you read and understand everything on the page. Have terms you do not understand explained to you.