Leasing vs Financing

[Nick]

Hi all,

I came across this financial services section on my local dealer's site: https://lotusvancouver.com/services/financial-services/leasing-financing
They seem to be strongly advocating in favour of leasing for vehicles such as the Emira (mostly because of taxes). I never really considered leasing as an option, but since I am unsure on if I would like to keep the vehicle long term (they are bound to release some tasty future versions) it could be worth mulling over. Now, I have no experience with leasing, so I was wondering if anyone has suggestions on what to watch out for in this particular context.

 

[James]

Hi all,

I came across this financial services section on my local dealer's site: https://lotusvancouver.com/services/financial-services/leasing-financing
They seem to be strongly advocating in favour of leasing for vehicles such as the Emira (mostly because of taxes). I never really considered leasing as an option, but since I am unsure on if I would like to keep the vehicle long term (they are bound to release some tasty future versions) it could be worth mulling over. Now, I have no experience with leasing, so I was wondering if anyone has suggestions on what to watch out for in this particular context.

Hi Nick - i have put $ down on a Emira (from ON) and when it comes to leasing many advantages espcically if you have a registered business and can write off expenses . ON makes it well worth it with a write off of over 800.00 monthly with no depreciated amount over time . From a lease to own perspective - i always look at leasing as a try-before-you-buy and assuming a high residual value-lease to own often makes more sense with less risk .

 

[supersix]

Thanks for posting this question Nick - This might be the first vehicle I leased as well due to the business/tax benefits. Still need to dig into this a bit more.

 

[James]

Thanks for posting this question Nick - This might be the first vehicle I leased as well due to the business/tax benefits. Still need to dig into this a bit more.

It’s well worth a good hard look - i almost always do this with higher end auto’s due to the tax implications and saving - what will matter on this Lotus is the residential at lease end - if the car is considered good value and it has a higher residual - leasing has the advantage - if the Lotus is not considered a good value or has quality control issue (possible) then - this may impact the rate (higher) but the write off opportunity pending province can be quite significant (try before you buy) is not a bad way to go .

 

[Nick]

Thanks for posting this question Nick - This might be the first vehicle I leased as well due to the business/tax benefits. Still need to dig into this a bit more.

My concerns around leasing are due to the not so stellar reputation Lotus has in this area. I was wondering if anyone is familiar with unscrupulous practices within the industry to give the rest of us a bit of a heads up.

 

[James]

My concerns around leasing are due to the not so stellar reputation Lotus has in this area. I was wondering if anyone is familiar with unscrupulous practices within the industry to give the rest of us a bit of a heads up.

Most don’t realize but leasing can be easily handled by parties other then manufacturer direct - that’s not an issue and in many circumstances , better.

 

[Nick]

Most don’t realize but leasing can be easily handled by parties other then manufacturer direct - that’s not an issue and in many circumstances , better.

Oh I had no idea, will look into that too. Thanks!