# data[].attributes.body
Hello There, we are here to discuss the comparisons between leasing and buying

# data[].attributes.body
o   1. What did you learn about your topic that surprised you the most?

I learned that when you are leasing a vehicle you to have to return it as the vehicle is not really yours.  I also learned that leasing vehicle has a mileage restrictions and fees for overages. You also must pay high insurance and you must have a high credit score to lease a vehicle. Overtime you will pay more for a leased vehicle.

o   2. Provide a real-life example of how this topic is relevant or interesting for you.

When my family van broke down, we search for a SUV and found a Ford escape truck. We decided that it was better to buy the truck as leasing was a very expensive option. My parents did not want to have a payment every month, year after year and then return the lease vehicle.

When you are purchasing a vehicle, you pay monthly for a fixed term and then you own the vehicle; by purchasing the vehicle, they saved thousands of dollars.

o    3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

I learned that leasing a vehicle is not always the best option when you are starting out as a young adult. I learned the pros and cons of both leasing and purchasing options.

The most important thing I learned is that you must calculate how much money you are able to afford for vehicle and you also have to do your search on the type of vehicle that you want, financing, credit score and Insurance.

# data[].attributes.body
This website offers different types of Cars, SUV’s, Performance Trucks, Commercial vehicles, Upcoming, Electric cars, Fleet and Discounted vehicles.  You can find the following under the “Owner’s Tab”: The Owner Centre, Certified Service, Accessories, Warranty tools, Vehicle Health, Recalls, Vehicle Support, On Star & Connect Services, and Videos that talk about the vehicle that you are interested in the website.  It gives you a full description of any vehicle.

I found this information important and interesting as it gives a person so much help when you are searching for a new/old vehicle.  You can search under the “Shopping Tab” Current offers, Search Inventory, Build & Price, Search Inventory, and Find a dealer. You can find Inventory of any vehicle that you are looking for specifically for 2020 and 2021.  They offer both the Lease and the Finance Option for any vehicle that you are interested on, so you know exactly how much you will be paying.  They also offer their latest offers from Chevrolet Canada based on your location. For Example, on a 2020 Spark vehicle 2LT Model shown on the website, they offer 0% financing and discount if you are a Cosco Member.  On Leasing the offer 1.9% down payment for 48 months.  It also has a “Build Price” section, where you can choose a vehicle and customize your vehicle.  It will calculate your new price, after you choose your new modifications.  Under the “Dealer Tab”, you can find the vehicle that you are interested in by entering your location.

There is also “A helping hand to heroes”, discount section to “First Responders, and healthcare professionals that are working hard to keep us safe during this Pandemic.

You can also download a brochure, owner’s manuals, request a quote, look at Student bonus, mobility program, prequalify for credit, GM Card, schedule a test drive, Preferred pricing, and a chance to Win a Chevrolet. It also talks about their Company, career centre, News, and events.

# data[].attributes.attachment_link.readable_text
^Black Friday Bonus valid toward the retail purchase or lease of one eligible new in-stock 2020 or 2021 vehicles purchased and delivered in Canada between November 20th, 2020 and November 30th, 2020. Tax exclusive credits and allowances are manufacturer-to-dealer and are applied to vehicle purchase or lease at dealer discretion. Eligible 2020 models include: Chevrolet: Camaro, Bolt EV, Trax, Equinox, Blazer, Traverse, Tahoe, Suburban, Colorado, Silverado LD, Silverado HD. Eligible 2021 models include: Chevrolet: Camaro, Trailblazer, Trax, Equinox, Blazer, Traverse, Colorado, Silverado LD, Silverado HD. This offer cannot be redeemed for cash and cannot be combined with certain other consumer incentives. Conditions and limitations apply. See dealer for details.

*To qualify for the Costco Member Pricing, you must be a Canadian resident holding a valid driver's license, have been a Costco member since August 31, 2020, or earlier and must: (1) Register with Costco to receive your non-transferable Authorization Number; (2) Present the Authorization Number to a participating dealer; (3) Retail purchase, finance or lease an eligible new or demonstrator in-stock 2020 Chevrolet: Trax, Bolt, Camaro (excl. ZL1 1LE), Equinox, Blazer, Traverse, Tahoe, Suburban; 2021 Chevrolet Trailblazer; delivered from September 1, 2020, to November 30, 2020. In addition, to receive a $500 Costco Shop Card by mail, submit a redemption form to Costco within thirty (30) days of vehicle delivery and complete a Costco member satisfaction survey. Please allow three weeks for Costco Shop Card delivery, pending completion
of all eligibility requirements; including redemption form submission, purchase verification and survey completion. Costco Shop Cards will be mailed to the mailing address provided to Costco at the time of registration. The purchase or lease of a vehicle does not qualify for the calculation of the Costco Executive Membership 2% Reward. Offer may not be redeemed for cash. Conditions and limitations apply to this limited time offer.

For full program details and for any applicable exclusions see a participating dealer or costcoauto.ca/GM. For Costco Shop Card terms and conditions, visit Costco.ca and search "Shop Card".

Tax, title, registration and license fees, personal property registration fees, and additional products and services are not included in the Costco Member Pricing. Offer is valid at participating authorized GM Canada dealers. Offer not available in the U.S. or Mexico. Offer is subject to change without notice. Void where prohibited. Costco and its affiliates do not sell automobiles nor negotiate individual transactions.

®: Registered trademark of Price Costco International, Inc. used under license.

*2020 Silverado 1500 Crew Cab Custom Lease (Excluding Quebec):
Offer available to qualified retail customers in Canada on select vehicles delivered to an authorized GM Dealer in Canada from Nov - 3 - 30. Lease based on suggested retail price of $45,263 includes $2,000 Delivery Allowance Credit (tax exclusive) towards the lease of an eligible 2020 Silverado 1500 Crew Cab Custom. Bi-weekly payment is $178 for 24 months at 3.9% lease rate on approved credit to qualified retail customers by GM Financial. The $89 weekly payment is calculated by dividing the bi-weekly payments of $178. Payments cannot be made on a weekly basis. Equivalent weekly payments are for informational purposes only. Annual kilometer limit of 20,000 km, $0.16 per excess kilometer. $1,998 down payment required. Payment may vary depending on down payment trade. Total obligation is $11,235. Taxes, license, insurance, registration and applicable fees, levies, duties and, except in Quebec, dealer fees (all of which may vary by dealer and region) are extra. Option to purchase at lease end is $37,147. See dealer for details. Credits vary by model. Dealer may sell for less. Limited time offer which may not be combined with certain other offers. General Motors of Canada Company may modify, extend or terminate offers in whole or in part at any time without notice. Conditions and limitations apply. Offers may not be redeemed for Cash and may not be combined with certain other consumer incentives.

Quebec: 2021 Silverado 1500 Crew Cab Custom Lease
104 payments. Annual limit of 20,000 km; $0.16 per excess kilometer. $2,000 down payment required. RDPRM registration fees (# REQUIRED) not included. Offer available to qualified retail customers in Canada on select vehicles delivered to an authorized GM Dealer in Canada from Nov - 3 - 30. Lease based on suggested retail price of $45263 includes $2,000 Delivery Allowance Credit (tax exclusive) towards the lease of an eligible 2020 Silverado 1500 Crew Cab Custom. Bi-weekly payment is $178 for 24 months at 3.9% lease rate on approved credit to qualified retail customers by GM Financial. The $89 weekly payment is calculated by dividing the bi-weekly payments of $178. Payments cannot be made on a weekly basis. Equivalent weekly payments are for informational purposes only. Annual kilometer limit of 20,000 km, $0.16 per excess kilometer. $1,998 down payment required. Payment may vary depending on down payment trade. Total obligation is $11,235. Taxes, license, insurance, registration and applicable fees, levies, duties and, except in Quebec, dealer fees (all of which may vary by dealer and region) are extra. Option to purchase at lease end is $37,147. See dealer for details. Credits vary by model. Dealer may sell for less. Limited time offer which may not be combined with certain other offers. General Motors of Canada Company may modify, extend or terminate offers in whole or in part at any time without notice. Conditions and limitations apply. Offers may not be redeemed for Cash and may not be combined with certain other consumer incentives.

Cargo and load capacity limited by weight and distribution.

Read the vehicle owner's manual for important feature limitations and information.

Chevrolet Infotainment System functionality varies by model. Full functionality requires compatible Bluetooth and smartphone, and USB connectivity for some devices. Data plan rates may apply.

Cargo and load capacity limited by weight and distribution.

The Forward Automatic Braking feature may help reduce crash damage under certain conditions discussed in the Owner's Manual. Never rely on this feature to brake the vehicle.

Before you buy a vehicle or use it for trailering, carefully review the Trailering section of the Owner's Manual. The weight of passengers, cargo and options or accessories may reduce the amount you can tow.

Before making a lane change, always check the exterior and interior rear-view mirrors, look over your shoulder for vehicles and hazards and start the turn signal.

Not compatible with all devices.

With second and third row seats folded flat. Cargo and load capacity limited by weight and distribution.

With available 3.6L V6 engine.

Gross Combination Weight Rating (GCWR) is the maximum allowable combined weight of the tow vehicle, passengers and cargo in the tow vehicle, plus the trailer and cargo in the trailer.

Requires available Vortec 6.0L V8 engine on 3500 Series 139-inch and 159-inch Wheelbase models. Included on 3500 Series 177-inch Wheelbase and all 4500 Series models.

Requires available Vortec 6.0L V8 engine.

Requires Long Box. Cargo and load capacity limited by weight and distribution.

Requires available Duramax 6.6L V8 Turbo-Diesel engine.

Functionality varies by model. Full functionality requires compatible Bluetooth and smartphone, and USB connectivity for some devices. Data plan rates may apply.

2500HD and 3500HD SRW (Single Rear Wheel) models.

Available on 2500HD Crew and Double Cab models.

Included on Extended Cab and 2WD Crew Cab Short Box models.

Included on 2WD Crew Cab Long Box and 4WD Crew Cab models.

Included on Extended Cab models.

Included on Crew Cab models.

Always use seat belts and child restraints. Children are safer when properly secured in a rear seat in the appropriate child restraint. See the Owner's Manual for more information.

Premier shown seats seven. Standard on LS. Available on LT

3rd-row is vinyl-covered.

Premier model shown. Nine-passenger seating available on LS models only, with available front-row split-bench seat.

Does not detect people or items. Always check the rear seat before exiting the vehicle.

To avoid the risk of injury, never use Recovery Hooks to tow a vehicle. For more information, see the Recovery Hooks section of your Owner's Manual.

To avoid the risk of injury, never use Recovery Hooks to tow a vehicle. For more information, see the Recovery Hooks section of your Owner's Manual.

Read the vehicle Owner's Manual for important feature limitations and information.

Standard on Extended Cab and 2WD Crew Cab Short Box models.

Standard on 2WD Crew Cab Long Box and 4WD Crew Cab models.

Available on Extended Cab models.

Available on Crew Cab models.

# data[].attributes.attachment_link.title
Chevrolet Canada | Cars, Trucks, SUVs, Crossovers & Vans

# data[].attributes.attachment_link.description
Offer valid toward the retail purchase of an eligible new in-stock 2020 and 2021 vehicle purchased and delivered in Canada between December 1, 2020 and January 4, 2021. Eligible Chevrolet models : 2020 Equinox, Blazer (excl. 2.5L, 2LT AWD), Traverse (excl. 1LT AWD) and 2021Trailblazer. Terms vary by model.

# data[].attributes.body
Leasing a Vehicle has lower monthly payments depending on your car that you choose.   Your monthly payments maybe the same as the payments that you would be purchasing a vehicle.  Lease and drive a car that you like every 2 to 4 years with all new technology and design updates.   You don’t have to worry about the warranty expiring.  You pay less tax, when you lease a vehicle you only pay on the portion that you use of the vehicle.  When you lease a vehicle, you have a vehicle accident protection.  When you lease a vehicle you only pay for the portion of the vehicle that you use over the term of the lease.

# data[].attributes.attachment_link.readable_text
1st payment - monthly or biweekly

PPSA - amount depends on term ($30.75 to $57.87)

License cost - $32 for a transfer, $179 for new plates and sticker for a year

Can I change my bi-weekly payment to monthly payments?
These changes can only be made prior to taking delivery and must be set up in the original contract. At this time, GMF is unable to modify after you have taken delivery.
I have bad credit - can I still lease?
We will submit all credit applications for approval. Every situation is unique and our Business Managers are experienced in the area. We will work to help you get into a new vehicle.
Do I need to have a security deposit on my lease?
Security deposits are not required on a consumer lease, unless it is part of the credit approval conditions. Business lessees are required to provide a security deposit equal to one monthly payment unless otherwise stipulated at time of approval.
Do I need to put money down?
Many leases are done with $0 down payment, subject to approval. We can tailor the lease to suit your specific needs and budget. Money down will reduce the payment.
Can I trade in a vehicle when I lease?
Yes, you made trade in a vehicle. If there is equity in your trade, you may request the cash back (i.e. if your trade value is $8000 and the lein amount is $3000, you could take $5000 back to you in equity).
What if I change bank accounts during my lease?
Please contact 1-800-465-4591or email cservice@gmfinancial.com
Can I change the date of my payment?
GMF is unable to modify the payment date or frequency.
Can I pay my lease payment with a credit card?
You must provide a void cheque or PAP (Pre-authorized Payment form) when you take delivery of your new vehicle. This is the only payment method allowed at this time.
Can I write off my payment?
Conversations should be had with your accountant or financial advisor on this. If you are eligible to write-off all or a portion of your vehicle, the CRA will make adjustments based on the payment for a lease or on a depreciation percentage if you purchase.
With a lease, am I protected from possible negative equity?
With a lease, you avoid the potential risk that your vehicle's value has declined beyond its projected residual value at the end of your lease term.
Can I buyout⁸ my lease prior to the end of the lease?
At any time during the lease, the lessee may buyout the vehicle. We would obtain a lessee's buyout quote (early or at maturity) and other information related to the lease.
What do I need to buyout my lease vehicle?
The lessee would require the following documentation. OMS will send to GMF for the buyout of the vehicle:

Buyout quote with odometer reading (we are able to provide this for all GMF leases done anywhere in Canada)

We are able to arrange financing for the buyout - in part of whole subject to approval; or you can provide a certified cheque or bank draft totalling the amount on the quote plus applicable taxes - $50 CarFax Fee and License amount ($32 transfer)

A completed Vehicle Disclosure Statement (VDS)

Valid safety certificate (emission test not required for buyout)

We will provide a Bill Of Sale and License the vehicle for you

There is NO administration fees charged by OMS on a lease buyout

What are my financial responsibilities at the end of the lease?
The lease we do for you with GMF is a closed end lease, which means your only responsibility is paying for excess kilometres and or excess wear and tear (unless you added the XS Wear Protection)
How do I know how much I owe for excess wear and tear?¹¹
OMS will help arrange the vehicle inspection to be done approximately 60 days prior to the end of your lease. Once this has been completed by a third party under the direction of GMF, we can help you understand what charges you can expect from GMF once the vehicle is returned. By arranging this with you early enough, you will have the option of getting the repair done prior to the vehicle return. So, no surprises.
I'm returning my lease early - will payments keep coming out of my account until the end?
If the vehicle is returned prior to maturity with more than three months outstanding, the lessee is responsible for all remaining payments and those payments are to be forwarded to the GM Financial within ten (10) days of the return of the vehicle.

# data[].attributes.attachment_link.title
Leasing: Everything You Need to Know - Ontario Motor Sales

# data[].attributes.attachment_link.description
1st payment - monthly or biweekly PPSA - amount depends on term ($30.75 to $57.87) License cost - $32 for a transfer, $179 for new plates and sticker for a year Can I change my bi-weekly payment to monthly payments? These changes can only be made prior to taking delivery and must be set up in the original contract.

# data[].attributes.body
This will be a good vehicle as it has an eye-catching design and premium comfort. This vehicle looked very interesting as it has many features such a rear-view camera, rear view media systems on each side on the back of the front seats, and sunroof.  This SUV would perfect for a travelling family vehicle with lots of storage space.  It is good in all types of terrain.