What Quebecers Should Know About Car Rental with Lease

Leasing a car can be an attractive option for many Quebecers, especially those who enjoy driving new models and prefer lower monthly payments compared to purchasing. However, it is important to understand the terms and conditions before committing. Here are some key points

to consider:

1. Understand the lease term : Car leases are typically two to four years. Make sure the lease term fits your personal needs and driving habits.

2. Limited Mileage : Most leases include an annual mileage limit. If you exceed this limit, you will be charged an additional per-mile fee. Evaluate your expected usage to avoid unexpected costs.

3. End-of-lease purchase options : At the end of the lease period, you often have the option to purchase the vehicle at a predetermined price. Consider this option if you are happy with the vehicle and its condition remains excellent.

4. Maintenance and Repairs : While the lessee is generally not responsible for major repairs, they are responsible for maintaining the vehicle in good condition. This includes regular oil changes, inspections and other preventative maintenance.

5. Insurance : Renters must purchase adequate insurance to cover the rental vehicle. Compare different insurance options to ensure you get the best coverage at the best price.

6. Early Termination Fees : If you need to terminate the lease before its term, early termination fees may apply. It is crucial to read and understand these terms before signing the contract.

7. Impact on credit score : As with any lease or credit agreement, your ability to make regular, on-time payments can affect your credit score. Make sure you can manage monthly payments within your budget.

By understanding these aspects, you can make an informed decision that fits your lifestyle and financial needs. Always read the contract carefully and ask questions if anything is unclear before signing.