Foreign Student Car Loans Canada

Simply put, auto leasing is a way of obtaining a vehicle for a defined period of time. Since the average Canadian trades cars every three to four years, the auto leasing alternative addresses many desires. Because the term of the average auto lease is shorter than that of the average loan, it allows you to move onto the next car more quickly, and lease payments tend to be more affordable than loan payments. Approximately 50% of new Canadian vehicles are leased.

A Lease Take-Over is when a person takes over the payments of a leased vehicle with the approval of the original lease company, assuming the rights and responsibilities under the current term of the auto lease agreement.

Most of us finance our vehicles with a loan which means we're already in the habit of making monthly payments. To keep those payments as low as possible, we tend to take out a five-year loan to pay for our new purchases. The result? At the end of the five-year period we may well own the car, but chances are we really wanted to trade it in a year ago. One other point is that a car is a depreciating asset, that is, it loses value over time with some makes and models depreciating faster than others. So, the car we now own and don't really want isn't worth very much when we try to trade it in.

It is important to understand that the cost of the lease is really the difference in the purchase price at signing and the purchase price available to you at the end of the lease, plus some finance charges, divided by the number of months in the lease.

Foreign Student Car Loans Canada

* Lower monthly investment than what you would pay to service a loan for the same investment. Lease payments are generally 2/3 of a loan payment, with the same term and interest rate. The result is your can have a lower payment or keep the payment the same and drive a nicer vehicle.

* You only pay tax on the monthly payment, rather than up front on the full price of the vehicle. That adds up to big savings.

* Down payment is flexible

* Guaranteed future value

* No resale hassle

* Trade more often

* Cash flow benefits as you avoid putting too much of your money in a vehicle

* Drive more cars for the money

* Drive new for the price of used

* Gratification of an affordable new vehicle more often (every 2-3 years).

* Peace of mind of knowing your vehicle is under a new car warranty. Even better if you turn the vehicle in before the factory bumper-to-bumper warranty expires, and therefore you never have to deal with mechanical difficulties.

* Leasing does not affect your ability to borrow for your business because a lease unlike a loan is neither an asset nor a liability.

* If you lease a car, you can deduct the entire amount, up to CCRA's maximum (currently $800 plus taxes per month), while considering any tax restrictions relative to your employment, business-use, or a percentage attributed for personal use.

One of the best parts to leasing is that you also have options at lease end. At the end of your lease, you can walk away from the car, and not have to worry about negotiating its trade-in value, buy the vehicle, re-lease the vehicle, or use any equity as a trade-in:

Keep it

If you love your vehicle and don't want to part with it, simply buy it for the guaranteed residual price (which is generally a wholesale price) or extend the lease.

Trade it

If you decide you want a new vehicle just trade in the old one. If the trade value exceeds the residual value, the difference is yours to apply to your new vehicle.

Keep the Profit

If you sell the vehicle yourself privately for more than the guaranteed residual price, the excess is yours to keep.

Return it

If market conditions change or if you just don't want to trade or sell it, then based on the lease term & condition of the returned vehicle, simply hand us the keys and walk away.

Credit for Foreign Student in Canada

Cars are getting more expensive. The average person can go into "budget shock" just doing the math before buying a new car. A substantial down payment and high monthly payments make owning a new vehicle difficult. Our lease plans provide all the benefits of automobile ownership and more. No big loans, you don't have to tie up a lot of cash or credit, enjoy lower monthly payments. Instead of paying the full price, you pay only for what you use.

Paying only for the usage means that your monthly payment goes a lot further, which translates to you affording a vehicle with more options or a more expensive model. Flexibility is another key benefit of a lease plan. Drive a new vehicle more often, every two years, three years . . . whatever you want. Plus, being an all makes lease company, we can supply you with any make or model vehicle to your specifications.

Start driving the easy way today! It's just like owning but with less risk. You don't have to worry about market value and resale. Our commitment to quality business practices guarantees our high standards. We offer experienced, knowledgeable and trustworthy professionals, unlimited selection, innovative programs and flexible payment plans.

For more information about Car Leasing for New Immigrants or Foreign Students in Canada visit www.autosourcefinancial.com. Auto Source specializes in all makes leasing and Car, Truck and SUV loans for people with No Credit, Bad Credit in Canada.