| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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01-06-2019, 10:45 AM
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#1 | | Why'd you do that for?
Join Date: Sep 2007 Location: Vancouver
Posts: 1,399
Thanked 302 Times in 137 Posts
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| Third Party Lease
Looking for recommendations on third party leasing companies. I've dealt with First West Lease, but it seems that their account exec is no longer with the company -- also tried reaching out to their HQ and no luck
Anyone with first hand experience with one?
I already googled and searched the forums -- no luck here
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01-06-2019, 12:01 PM
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#2 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
Posts: 18,328
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What kind of car are you looking to lease?
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01-06-2019, 03:04 PM
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#3 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 16,346
Thanked 16,856 Times in 5,626 Posts
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For business stuff at work I used to deal often with Ensign Pacific Lease in Vancouver as well as Jim Pattison Lease in Burnaby. Ensign usually had better prices unless it was something that came from a Pattison owned dealership.
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01-06-2019, 05:38 PM
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#4 | | My dinner reheated before my turbo spooled
Join Date: Oct 2002 Location: vancouver
Posts: 1,766
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01-06-2019, 06:43 PM
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#5 | | Why'd you do that for?
Join Date: Sep 2007 Location: Vancouver
Posts: 1,399
Thanked 302 Times in 137 Posts
Failed 30 Times in 19 Posts
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Thanks everyone, had a few people message me. For everyone else who's a lurker, I was suggested coast capital and Scotia.
Haven't decided on the vehicle yet but likely new or 1-2 years old
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01-06-2019, 08:04 PM
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#6 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
Posts: 18,328
Thanked 9,377 Times in 2,402 Posts
Failed 390 Times in 157 Posts
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Westminster Savings does leases and you can also try Wilson @ Pffaf leasing.
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01-06-2019, 08:51 PM
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#7 | | Rs has made me the woman i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,383
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I'm just curious about this but if you're getting something near new from a dealer what advantages are there with this? So the lease company just buys the car for you to lease?
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01-07-2019, 07:13 AM
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#8 | | I STILL don't get it
Join Date: Aug 2011 Location: LOL
Posts: 472
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| Quote:
Originally Posted by Harvey Specter  Wilson @ Pffaf leasing. | ^^
This
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01-07-2019, 10:00 AM
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#9 | | NEWBIE ACCOUNT!
Join Date: Mar 2012 Location: white rock
Posts: 10
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I've used Westminster Savings for my Telsa model 3 and F150 leases. Worked really well for my truck but the residual for my car ended up being really low. Thing to really consider with these 3rd party leases is that the residual is guaranteed by you where as the manufacturer leases are typically guaranteed by them. Eg if you have an accident, the accelerated depreciation is on you.
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01-08-2019, 10:50 PM
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#10 | | RS Lurker, I don't post!
Join Date: Oct 2010 Location: Canada
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King's Auto Lease in Parker Place/Richmond Home - King's Auto Lease | |
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01-09-2019, 09:30 AM
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#11 | | Revscene.net has a homepage?!
Join Date: Feb 2005 Location: Vancouver
Posts: 1,296
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I'm genuinely curious is there an advantage to use these instead of the manufacturer? I get that some people without the adequate credit history would not be approved but from what I see with car companies they tend to be very lenient.
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01-09-2019, 11:09 AM
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#12 | | 14 dolla balla aint got nothing on me!
Join Date: Apr 2007 Location: Surrey
Posts: 638
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| Quote:
Originally Posted by jackmeister I'm genuinely curious is there an advantage to use these instead of the manufacturer? I get that some people without the adequate credit history would not be approved but from what I see with car companies they tend to be very lenient. | Used vehicles and private sales can be financed through 3rd parties as well as more flexible structures are offered. Not all OEM finance divisions will finance used vehicles even if it's off their lot.
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01-09-2019, 12:38 PM
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#13 | | Rs has made me the woman i am today!
Join Date: Apr 2014 Location: Van
Posts: 4,383
Thanked 1,870 Times in 988 Posts
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Would the rates even be worth it used? As I think most banks won't touch anything over 5 years and rates are usually 5%+ for finance
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01-09-2019, 12:50 PM
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#14 | | RS has made me the bitter person i am today!
Join Date: May 2005 Location: 604
Posts: 4,502
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what is the range in finance percentages for used cars through a third party?
I have been looking at a used mini for my partner but the dealership is offering finance at 6.9% for 3 years...
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01-09-2019, 02:21 PM
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#15 | | I Will not Admit my Addiction to RS
Join Date: Mar 2003 Location: vancouver
Posts: 586
Thanked 297 Times in 45 Posts
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I have deal with traveler and work out great for me
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01-09-2019, 02:29 PM
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#16 | | 14 dolla balla aint got nothing on me!
Join Date: Apr 2007 Location: Surrey
Posts: 638
Thanked 1,212 Times in 188 Posts
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| Quote:
Originally Posted by JDMDreams Would the rates even be worth it used? As I think most banks won't touch anything over 5 years and rates are usually 5%+ for finance | There's 3rd party lenders that rates start in the mid 4's and look at vehicles up to 10 years old. Obviously the older the car, the shorter the term. Definitely not as good rates as buying new from the OEM but there's still benefits like offsetting the cost, avoid paying taxes on the full amount of the vehicle (if it's sold before the lease ends), and writing off payments if it's for business purposes.
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