Lease vs. Buy -- What's Right for You?

Making the Right Decision for Your Needs

When you're ready for a new vehicle, one of the first questions to answer is: Should I lease or buy? At Steele GMC Buick in Fredericton, we help you make that decision with confidence. Whether you're after the latest features, lower payments, long-term ownership, or flexible business solutions, we offer both leasing and financing options tailored to your needs.

We work with GM Financial for both personal leases and financing solutions, and we also offer in-house commercial leasing through Steele Leasing to support business clients across Atlantic Canada.

Leasing a Vehicle: Smart, Flexible, and Low Commitment

Leasing is a great option for drivers who like flexibility, new features, and lower monthly payments. With GM Financial, you only pay for the portion of the vehicle's value that you use during the lease term--usually 24 to 48 months.

Benefits of Leasing with GM Financial

Lower monthly payments compared to financing the same model
Lower upfront costs and often no down payment
Easy to upgrade to a new model every few years
Most lease terms remain under full factory warranty
Avoid long-term maintenance or resale concerns
End-of-term options: return, upgrade, or buy out the vehicle
Commercial and tax-friendly lease structures available

Leasing is ideal if you want newer vehicles more often, shorter commitments, and fewer long-term repair concerns.

Buying a Vehicle: Long-Term Flexibility and Ownership

Financing is a better fit for drivers who plan to keep their vehicle long term or drive high annual mileage. With financing, you're building equity with every payment, and once the loan is paid off, the vehicle is yours.

Benefits of Financing

Full ownership at the end of the loan term
No mileage limits or wear-and-tear restrictions
Ability to customize or modify your vehicle
No end-of-term charges or return obligations
Best suited for drivers planning to own for 5+ years

We offer competitive rates through banks, credit unions, and GM Financial, and we also work with Steele Advantage Finance for customers needing non-prime or second-chance credit solutions.

Steele Leasing vs. GM Financial Leasing -- What's the Difference?

At Steele GMC Buick, we offer both personal lease options through GM Financial and in-house commercial leasing through Steele Leasing.

GM Financial Leasing (Personal and Business Use)

Structured for individual drivers and some small businesses
Great for drivers who want to switch vehicles every 2--4 years
Access to loyalty and early upgrade programs
End-of-lease options to return, purchase, or renew
Ideal for retail buyers or short-term company use

Steele Leasing (Commercial, Fleet, and Business Clients)

In-house leasing through the Steele Auto Group
Built for business and commercial clients needing long-term solutions
Flexible payment plans and custom term lengths
Options to lease heavy-duty trucks, vans, and fleet units
Scalable leasing solutions for multiple vehicles
Dedicated fleet and leasing support specialists

If you're running a business, Steele Leasing offers direct access to commercial-grade solutions that can grow with you.

Quick Comparison: Lease vs. Buy

Feature	Lease (GM Financial)	Buy (Finance)
Monthly Payments	Typically Lower	Typically Higher
Upfront Costs	Often Lower or Zero	Varies
Vehicle Ownership	No -- You Return or Buy Out	Yes -- You Own It
Mileage Limits	Yes -- Customizable	None
Vehicle Modifications	Not Allowed	Allowed
Wear & Tear Charges	Possible	None
Vehicle Upgrades	Every 2--4 Years	When You Choose
Warranty Coverage	Often Full Lease Term	Varies
Long-Term Cost	Higher Over Time	Lower Over Time
Best For	Short-Term Users	Long-Term Owners

Common Questions About Leasing vs. Buying

Can I lease if I drive a lot?

Yes. GM Financial offers customizable mileage options to match your driving habits. Whether you drive 16,000 or 40,000 km per year, we can structure a lease accordingly.

What if I want to keep the vehicle at lease end?

You can buy out your lease at a pre-determined residual value. Many customers choose this option if they love their vehicle.

Can I lease a vehicle for my business?

Yes. GM Financial offers business leasing programs, and for more customized commercial needs, we recommend Steele Leasing for its flexibility, fleet options, and tailored solutions.

Is leasing better for building credit?

Both leasing and financing help build credit when paid on time. Leasing may offer lower monthly payments, which can be helpful for monthly cash flow.

Why Choose Steele GMC Buick?

Wide range of new GMC and Buick vehicles available for lease or purchase
Transparent advice on lease vs. buy, tailored to your situation
Access to both GM Financial and Steele Leasing options
Non-prime financing available through Steele Advantage Finance
Friendly, experienced Finance Managers who guide you every step of the way

Let's Help You Decide

Not sure whether leasing or buying is the right fit? Our team will walk you through the numbers, your lifestyle needs, and available promotions to help you make the best decision. Whether you want the freedom of ownership or the flexibility of a lease, we'll find a plan that works for you.

Visit Steele GMC Buick in Fredericton today or start your journey online. Let us help you drive away with confidence.

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