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Pros;
- Cheaper payments compared to financing
- It's easier, in most cases, to get approved for a lease compared to financing
- Don't have to worry about getting stuck with a lemon or trying to sell a car that's been in an accident or has a big ass ICBC claim
- You can drive a new car every 2-3 years
- You can drive the crap out of the car and walk away from it at lease ends.
Cons;
- You don't own the car
- Might have to put a big down payment
- You might end up paying extra if you drive in excessive of the allowed km's
- Very hard to get out of a lease unless you find someone to take over it.
- Can't pay off a lease so this might be an issue for someone trying to secure another loan (e.g for a house or business)
- Some buyouts are higher compared to the actual market value of the car when your lease is up
- You might get raped with fees for damages
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