Smart Advice Borrowing and Credit

Learn the pros and cons of leasing a new car, and some ways to make leasing work for you.
CIBC Apr. 17, 2018 4-minute read

Leasing pros

Lower monthly payments

Warranty coverage

Flexibility at the end of the contract

No resale risk

Businesses can deduct lease payments

Leasing cons

No equity

Other costs

Mileage limits

Wear and tear

Strategies for leasing

Focus on price and residual value

Lease cars that retain their value

Choose an optimal lease term

Avoid lease-end penalties

Consider buying at the end of the lease

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