Crown Nissan General Manager Brent Sayles: “You always Want Options”
Laresa Sayles has had a monthly car payment for her entire adult life. Because of that, her husband, Brent Sayles, the General Manager at Crown Nissan, has decided that his wife needs a few options.
For Laresa Sayles, now might be a good time to lease a new vehicle as opposed to buying one.
“When it comes to your question, ‘Should you lease or finance a new car?’ the answer isn’t necessarily that simple,” said Sayles (is that the best name for a Sales Manager or what?). “It depends on your situation, but I have to say, leasing has become popular again.
“There are now ways to get out of your lease early (we’ll discuss that over the next few weeks) without a penalty. People in a 60-month lease can get out after 48 months and we’ll put them into brand new technology.”
That’s great but why would I like leasing more than owning my own car.
“First of all, it’s a lot easier to get out of a lease than a purchase,” said Sayles with a laugh. “And I don’t know if you know this, there are now 96-month financing contracts. That’s a long time. Say you have an 84-month financing agreement and you come in after three years to buy a new car, you still have a lot of money owing on the vehicle you have.
“Leasing, meanwhile, gives you more options. For instance, if you have a three-year lease and you really like the car, you can still buy it at the end of the lease. And don’t forget that typically, leasing provides the lowest car payment. That’s a lot to consider.”
Which brings us back to Laresa. As the General Manager at Crown Nissan, what would Brent recommend.
“She is going to have a car payment. She’s always had a car payment,” he said. “But if she’s going to put 6,000 kilometres on her car, she should have the lowest car payment with an option to either get out early without penalty or to buy the vehicle. For my wife, I’d recommend leasing. It’s good to have options.”