Looking for a New Car? What You Should Know About Leasing vs. Owning

Leasing a car is a unique financial arrangement and while it has its perks, experts say it suits a fairly slim group of people. The biggest draw for leasing is lower payments, and on a shiny new car no less. This is usually what hooks drivers on a tight budget. “When it comes to leasing, new vehicles is definitely a big part of it,” said Brandon Wiebe, a fee-only financial planner with Money Helps, based in Saskatoon. “You’re getting into a vehicle that looks brand new, shouldn’t require immediate maintenance, has updated features, whether that’s safety or audio. And then another benefit that people see is the lease payments will tend to look lower than your purchasing new vehicle payments, so it’s less restrictive on their cash flow, right?”...