Why Lease?



Leasing is an option that allows you to pay for the portion of the vehicle's value you expect to use over a period of time, plus a borrowing charge and applicable taxes.

The Benefits of Leasing

  • Lease terms are shorter than most finance terms so you can drive a new car more often
  • No trade-in obligations
  • You can drive a more luxurious model or get more features than if you financed
  • You pay taxes only on your monthly payments
  • You are only paying for the portion of the vehicle's value that you intend to use


  • When you buy a vehicle using traditional financing, monthly payments are based on the whole value of the vehicle plus interest.
  • When you lease a vehicle, your payments are based on the portion of the vehicle you expect to use (plus interest) over the lease term, which can range from 36 to 48 months.

Leasing Details

Up-Front Costs

May include first month's payment, an administration fee, a down payment and other miscellaneous fees.

Monthly Payments

You are only paying for the depreciation of the vehicle over the lease term, along with the other charges (i.e. monthly tax and borrowing charges).

Annual Kilometrage

24,000 km for a typical lease (see us for low kilometre lease options). You may buy more kilometres up front or pay per kilometre over the limit at lease end.

Excess Wear and Tear

Usually assessed at lease-end. Ask us dealer for further details. Maintenance and repairs are your responsibility.


Required for the amount of coverage specified by your lease.

Other Leasing Options

At Preston, we offer an alternative array of leasing options, including through our own Preston Auto Lease.

Ending Your Lease

Should you have any concerns with your present lease or wish to discuss early termination, lease assumption, or other buy out options, please don't hesitate to contact our Leasing Manager, Doug Souter. With nearly four decades of vehicle sales experience, Doug can help you evaluate your many options and make the choice that is best for your circumstance.