What's the difference in payment between a lease and a finance loan?

Here is an example that shows the difference in your monthly payment depending on whether you lease or finance your vehicle.

LeaseLoan
Term48 Months48 Months
Interest Rate7.95%6.95%
Selling Price$ 18,000.00$ 18,000.00
Taxes*N/A$ 2,340.00
Selling Price$ 18,000.00$ 20,340.00
Lease End Value$ 9,000.00N/A
Base Payment$ 277.29N/A
Taxes on Payment*$ 36.05N/A
Total Payment$ 313.34$ 486.59

The MSRP and rates used above are approximate and used only as an example. Please see your Dealer for current finance and lease rates.

*Taxes (GST & PST) are 13% in this example.

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