Leasing a car in Canada

[njoseph]

Hello all,

I plan to move to Vancouver, BC this September and was looking at what options I have in terms on leasing a car as soon as I get there. Is it possible for me to lease a car on US license? I will be applying for switching my US license to Canadian but with the given COVID situation the process might be slower.
Please let me know if you can provide some details on this.

Thanks!

 

[canuck78]

Hello all,

I plan to move to Vancouver, BC this September and was looking at what options I have in terms on leasing a car as soon as I get there. Is it possible for me to lease a car on US license? I will be applying for switching my US license to Canadian but with the given COVID situation the process might be slower.
Please let me know if you can provide some details on this.

Thanks!

Leasing is not a great option unless you have a business and you can write off as a business expense. Would recommend purchasing a used car if at all possible. You should be able to get a Canadian license quite easily.

 

[njoseph]

Thanks for your recommendation! My move to Canada is temporary and I plan to stay there for about a year, which is why I was looking at the leasing option. If leasing is going to be a hassle, I will look to buy a used car.

 

[swan0206]

Leasing is not a great option unless you have a business and you can write off as a business expense. Would recommend purchasing a used car if at all possible. You should be able to get a Canadian license quite easily.

Hi, i am planning to lease a car for 3 years, as i plan to move back after 3 or 4 years max. Should i finance a car or lease it. Your suggestion is appreciated.

Thanks.

 

[gurpreet.ts]

Thanks for your recommendation! My move to Canada is temporary and I plan to stay there for about a year, which is why I was looking at the leasing option. If leasing is going to be a hassle, I will look to buy a used car.

I would strongly recommend to go for a lease in your case. You can also check the leasebuster website for any lease transfers, you may get great deals there.

 

[gurpreet.ts]

Hi, i am planning to lease a car for 3 years, as i plan to move back after 3 or 4 years max. Should i finance a car or lease it. Your suggestion is appreciated.

Thanks.

You can basically compare the pricing of both options, usually shorter term lease is expensive as 5 year lease is the most common here. If you check the leasebuster website you may get some good deals on lease transfers. Alternatively you can also buy an used car and then sell it before your move

 

[swan0206]

You can basically compare the pricing of both options, usually shorter term lease is expensive as 5 year lease is the most common here. If you check the leasebuster website you may get some good deals on lease transfers. Alternatively you can also buy an used car and then sell it before your move

Thanks for your response gurpreet. I am not sure how easy is it to sell a car before we move out, so planning to take a lease actually. i had to sell my car back in United states which is not easy, if you get a private party its a good deal or else dealers give a very worst quote, we will be on the losing side, so i dont want to take a risk of financing or cash down thingy.

so if i want to go for a lease transfer option, what are the things i need to look for. Would it be through a broker or directly with the owner if its through Leasebusters. i was looking at few cars.

 

[Keyjoe23]

I was leasing a car and let me tell you don't do it.

1 year lease is going to be very expensive as you can only lease cars model of the year so they are already expensive.

Do not take any lease takeover from someone. Lease return is going to be tough for you due to some issues the previous owner may give you the car with.

If you lease a car then in order to get rid of it, you will need to find someone who takeover your lease and you will have to pay incentive payment for him to convince him to take your car (thousands sometimes) + lease transfer free that goes up to 700 CAD.

Buy a cheap car since it's only 1 year, and sell it after that.

 

[swan0206]

Hi, i am planning to lease a car for 3 years, as i plan to move back after 3 or 4 years max. Should i finance a car or lease it. Your suggestion is appreciated.

Thanks.

@YoussefZaky : what do you suggest in my case. thanks

 

[steaky]

I was leasing a car and let me tell you don't do it.

1 year lease is going to be very expensive as you can only lease cars model of the year so they are already expensive.

Do not take any lease takeover from someone. Lease return is going to be tough for you due to some issues the previous owner may give you the car with.

If you lease a car then in order to get rid of it, you will need to find someone who takeover your lease and you will have to pay incentive payment for him to convince him to take your car (thousands sometimes) + lease transfer free that goes up to 700 CAD.

Buy a cheap car since it's only 1 year, and sell it after that.

If you can afford and want to have every new features and technologies what a new car should have and want to change whenever a new improvement comes up, then why not?

 

[swan0206]

If you can afford and want to have every new features and technologies what a new car should have and want to change whenever a new improvement comes up, then why not?

Hi steaky,

For 3 to 4 years is it a good idea to take a new car lease from the Dealer directly rather than lease transfer from random person?

Thanks.

 

[steaky]

Hi steaky,

For 3 to 4 years is it a good idea to take a new car lease from the Dealer directly rather than lease transfer from random person?

Thanks.

If a random person, you might get a better deal but makes life more complicated.