Buying Vs. Leasing by Kaitlyn Northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o Buying vs. leasing, which one is the better option en-us 2019-03-29 15:46:23 UTC 2024-06-06 17:26:04 UTC hello@padlet.com kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346608808 Hi there, thank you for visiting my padlet. Today we will be learning about the pros and cons of buying and leasing]]> 2019-03-29 15:51:08 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346608808 Video #1 - Leasing vs. buying: what is best for you? kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346609830 In this video is gives you pros about buying and leasing. Here are the pros they gave in this video:
·Leasing can mean lower monthly payments
·Buying means monthly payments will eventually end
·Buying your car through financing means that a consumer can calculate not only the cost per month, but also the exact point when their monthly payments will end 
·Leasing can easily be written off as a business expense 
·Buying a vehicle requires no restrictions on annual distances or damages
·Lease agreements have a variety of rules of how much you can drive a car per year, what kind of wear and tear is acceptable without additional charges.
·Leasing allows you to drive a newer model
·Leasing is a way for you to continually upgrade your vehicle for the recently released model.
·There is equity in a vehicle that is purchased
]]> 2019-03-29 15:53:24 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346609830 Video #2 - Buying vs. leasing a car kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346626570 This video shows you with visuals, if you were to want a new car, which option would be more beneficial. This video explains to you if you were to want a car that costs $17,700, it shows you what you would be paying in the end if you were to buy it or lease it. This video also puts this into two perspectives, if you were to keep the car in the end or if you wanted to give up the car after the lease is over. In the end, buying the car in both scenarios was the cheaper option. Saving around $1,000-$2,000.]]> 2019-03-29 16:34:09 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346626570 Video #3 - When leasing might come out better than buying kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346628724 This video is a follow up of video number 2, asking when in this scenario would it be cheaper to lease. Now if you watched video number two, it showed you what you would owe if you were to buy or lease a car but what also happens if you were to keep it or give it up at the end of the payments. In the second video, under the give it up scenario, the gentleman did an estimate on the expected resale price of the car, he estimated it at $12,000. Now in that scenario, that would be selling it to a buyer, if you were to sell it back to the dealership, the expected resale price would be much lower. In this case, leasing would be the cheaper option if you were to give up the car after the payments were finished.]]> 2019-03-29 16:39:55 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346628724 Website #1 - Should I buy out my lease? kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346928690 This Canadian website helps you determine whether or not you should buy out your lease or return it to the dealer in the months before the lease period ends. This website gives you a lot of useful information regarding leasing. It talks about what a lease is and how it works, it talks about what residual value is and how it is calculated. It gives you information about getting out of a lease in specific situations. It also gives you the pros and cons of buying out a lease. This website is a great help for people who need help deciding whether a lease buyout is right for them. ]]> 2019-03-31 18:35:48 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346928690 Website #2 - 3 numbers you should check before deciding whether to lease or buy a car kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346928808 This website gives you valuable information about whether to buy or lease a car. It gives you three numbers you need to look at which will then help you decided whether it is better for you to buy a car or lease a car. The first number they say you should consider is the equity you give up by opting for lower lease payments. This one includes the monthly payments you will be paying which you should consider depending on how much you’re willing to pay per month. The second number is your yearly mileage. This section talks about how when leasing, you are only allowed to drive a certain number of kilometres or you will have to pay more if you exceed the limit. The last number is your tax deductions, this section talks about how the only way leasing could yield better tax deductions is if your vehicle is rather expensive (more than $40,000).]]> 2019-03-31 18:36:50 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346928808 Website #3 - Lease or buy a car: What's the better option? kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346984553 This website talks about the better options when wanting to purchase a new car. It broke down a scenario where someone wants to buy a new car and what they would be paying if they were to lease it and if they were to buy it. It talks about why the monthly payments are lower when leasing compared to buying. It gives you a step by step math equation that will compare the payments of buying a new car and leasing the same car. ]]> 2019-04-01 01:01:59 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346984553 Website #4 - Leasing vs. buying: What is best for you? kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346988654 Did you know that according to Statistics Canada, the average Canadian puts 20 per cent of their income towards an auto loan every year? This website talks about how leasing a vehicle work and how financing a vehicle works. It talks about how leasing is different from financing. It even mentions the penalties of leasing and financing. Leasing is a very popular alternative to financing in Canada. ]]> 2019-04-01 01:24:18 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346988654 Picture #1 kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346992607 This picture is a chart comparing buying and leasing a car. This chart includes the money, the bills, the commitment, and the dollars and cents when buying vs leasing. This gives you a quick look at what fits your budget.]]> 2019-04-01 01:46:32 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346992607 Picture #2 kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346992838 This picture talks about the pros of buying and leasing. Gives a list of pros like how many vehicles you could have in a sixty month payment period, mile allowance per year, even maintenance agreements. ]]> 2019-04-01 01:47:43 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346992838 kaitlyn_northcott https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346996604 2019-04-01 02:11:04 UTC https://padlet.com/kaitlyn_northcott/e3y54ci84a1o/wish/346996604