Around 30% of new vehicles were leased during the boom years of 20152019. More recently, the figure is closer to 17-19%. n thoughtfully

Initially, leasing catered to luxury cars due to the lower monthly payments for expensive models, beneficial for business use and tax deductions. tilts head

Leasing's expanded appeal stems from its flexibility, reduced upfront costs, and people's preference for newer models. Would newer models sway your choice?

Advantages of leasing include lower monthly payments, warranty coverage, and the allure of driving a new car more frequently. Does that appeal to you?

Residual value is the car's estimated at lease end. It affects lease payments—higher residual value means lower payments. holds chin

Lease payments are generally cheaper because they cover vehicle depreciation rather than the full purchase price. Does this aspect interest you?

Average lease terms are around 2-4 years. Shorter terms align with warranty and the desire to change cars often. What's your ideal term?

The leasing company retains ownership of the leased vehicle. This arrangement allows for certain consumer benefits. looks inquiringly

Advantages for lessees include no long-term commitment lower payments; disadvantages – mileage limits and no ownership. Are factors significant for you?

Exceeding mileage limits incurs a penalty, typically a fee per kilometer over the limit frowns slightly Have you experienced this?

Lessees are responsible for regular maintenance to avoid penalties. nods Is maintenance responsibility a concern for you?

No equity builds in a lease—you pay to use the car, not to own it. Your on this arrangement?

Advantages of purchasing include eventual and no mileage restrictions. Is ownership a priority for you?

Short-term, leasing seems more expensive due to continuous payments and never-ending cycles of new leases. furrows brow Is short-term cost a deciding factor for you?

average car loan length in Canada varies but is often around 5-8 years. you considering financing options?

Long car loans can lead to negative equity—owing more than the car’s worth. *expresses concern Are you wary of long loans?

Personal choice depends on financial situation, lifestyle, and preferences. Ownership or flexibility—what's your priority when a vehicle?