To Buy?

Traditional financing is an option whereby you borrow the amount you need to buy your vehicle, then repay that amount, plus interest, with the long-term goal of owning it.

A quick look at the advantages of buying:

• You will own the vehicle
• The vehicle will be registered under your name
• The bigger your down payment, the less you pay each month
• You can trade in your current vehicle to add to your down payment
• You can keep your vehicle as long as you wish
• There are no kilometrage restrictions
• There are no wear and tear limitations
• You may alter your vehicle any way you wish

The down and dirty details of buying your vehicle:

Up-front costs:

Down payment, registration fees and other charges.

Monthly payments:

Usually higher than lease payments because you're paying for the entire purchase price, taxes and finance charges.

When payments end:

You own your vehicle. You can choose to keep it, sell it or trade it in.

Excess Wear:

Is your responsibility. If excess, it may lower your trade-in or resale value.

Insurance:

Coverage is required for the amount specified by your finance contract.

To change vehicles:

Once fully paid for, you must sell it yourself, or negotiate a trade-in price when buying or leasing a new vehicle.

Annual kilometrage:

Unlimited. Drive as far and as often as you want. Keep in mind high kilometrage may affect trade-in or resale value.