Lease Or Buy A Vehicle In North Bay Mitsubishi

Should You Lease or Buy a Vehicle in North Bay, Ontario

North Bay Mitsubishi is the preferred Mitsubishi dealership in North Bay, Ontario, serving the surrounding areas of Powassan, Sturgeon Falls, South River and Mattawa. Our friendly, professional staff will be happy to help you with your car-shopping decisions.

Your Two Major Finance Options: Lease or Buy?

One of the most important decisions for a car shopper to make is whether to lease or buy. Each method has its advantages, and what is best for you depends on your financial situation and what sort of car you want. Buying is the most familiar option for most people as they finance their purchase with a car loan from a bank, which you then need to repay with interest. Leasing, on the other hand, is a rental arrangement. You make payments for the car's use and then return it to the dealer at the end of the agreed period - typically 24 or 36 months.

Leasing is the less familiar option to most shoppers, but it has its advantages. The monthly payments can be significantly lower, and the down payment also tends to be low or sometimes isn't even required. Leasing is a more comfortable option for people with a lower credit score. It's less demanding on your cash and credit, and you'll always be driving a relatively new car.

Buying a vehicle is the more usual option for good reasons. If you're planning on keeping a new vehicle for a long time, then you can have a "free" period without payments once you've paid it off. If you're buying a vehicle used, which is often the more economical option, then leasing is usually not available. Financing also usually leads to lower insurance payments. By buying a vehicle, you get more freedom about the choices you make regarding ownership and use of your car in the future. The terms of a lease may be restrictive concerning your maintenance schedule and how much distance you're allowed to drive. In general, if you can afford to buy, it's usually the better option.

North Bay Mitsubishi Can Help You Understand Your Options

Our helpful representatives at North Bay Mitsubishi are friendly, helpful, and knowledgeable. We can walk you through the process of evaluating your options, value your trade, and help you secure a loan to buy a new vehicle.

Come and See Us!

Contact Us for more information on financing and leasing options available at North Bay Mitsubishi. Visit our finance page or see us at the dealership today!

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  1. North Bay Mitsubishi

    202 Lakeshore Drive
    North Bay, ON P1A 2B5

    • Sales: (705) 495-6487
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Get in Touch

  • Contact our Sales Department at: (705) 495-6487
  • Monday09:00AM-05:30PM
  • Tuesday09:00AM-05:30PM
  • Wednesday09:00AM-05:30PM
  • Thursday09:00AM-05:30PM
  • Friday09:00AM-05:30PM
  • Saturday09:00AM-05:00AM
  • SundayClosed