Leasing a Vehicle
Positives of Leasing a Vehicle:
- Lower monthly payments
- Driving a brand new vehicle ever 2-3 years
- Cheaper up front
Negatives of Leasing a Vehicle:
You essentially rent, not buy, the car, so you don’t own the car when your lease expires
Over time, the cost of leasing several cars will likely exceed the price of buying a new car
Lease terms can carry steep penalties if you exceed your allotted mileage or cause significant wear and tear.
Why Lease Your Vehicle With Us?
Leasing offers many advantages vs conventional financing that include: more flexibility, shorter terms, lower monthly payments and the ability to trade more often. Please see us for details.
What happens next?
With your lease coming to an end, there are a few things to keep in mind as you prepare for what’s next. Nissan Canada Finance (NCF), a division of Nissan Canada Inc. has made embarking on a new lease or purchasing a Nissan (your current vehicle or a new one), easier than ever.
We will be in touch as the end of your lease approaches. You will receive a letter outlining your lease end options and the exciting offers available should you choose to lease or purchase a new Nissan again as well as a wear and tear guidebook to help you measure the condition of your vehicle and prepare you for any additional financial responsibilities that may arise from excessive wear and tear.
1. Lease or Purchase a New Nissan Vehicle
Turn in your current vehicle in accordance with the terms of your lease agreement and lease or buy a new Nissan. NCF’s Preferred Customer Retention Program (see below) makes this a particularly attractive option!
2. Purchase your Current Leased Vehicle
There’s no better used vehicle than the one you already know and drive! If you purchase your leased vehicle, there will be no excess kilometre or excess wear & tear charges. You will not be responsible for any end of lease costs other than the predetermined purchase price (residual value) and the incidentals outlined in your Lease Agreement plus applicable taxes. Incidentals include the cost of all governmental or other regulatory fees and taxes and all safety standards, emissions and other required certification incurred in connection with the purchase of your vehicle and the transfer of ownership of the vehicle to you.
Should you choose to purchase, and require a purchase loan, NCF may be able assist you with your financing needs. Please see your dealership for more details.
3. Return your Nissan
If you decide to return your Nissan, we will make the process as easy and seamless as possible.
- NCF’s Customer Remarketing Department will contact you via telephone approximately 30 days prior to maturity to answer any questions that you may have.
- Prior to your maturity date, it is strongly recommended that you contact your Nissan Dealership to schedule an appointment to drop off your vehicle. You should give yourself ample time to investigate and explore all of your lease end options to ensure that you make a knowledgeable, well informed decision.
- The Dealership will ground your vehicle in your presence using an internal website. At time of drop off, the Dealer will print off an NCF Grounding Receipt to be signed by both you & the Dealership. This form is a receipt acknowledging the date that you returned the vehicle. The grounding receipt is not a vehicle inspection report. An independent 3rd party inspector will complete a detailed condition report within 48 hours of grounding. The condition report is then used by NCF to determine whether the vehicle has suffered excess wear and tear charges or has been driven beyond the allowable kilometres which would then be charged to you.
- To avoid any unpleasant surprises or excess wear and tear charges, it is highly recommended that any potential excess wear & tear issues be remedied by you prior to grounding the vehicle.
Nissan Canada Finance Loyalty Program
Our primary goal at Nissan Canada Finance is to offer our valued customers a hassle-free, quick and smooth transition into their next new Nissan vehicle. We want to help you and your family members make every journey a memorable one and as a loyal customer, we can deliver more! If you are leasing or financing your Nissan vehicle with Nissan Canada Finance, or if you currently own a Nissan vehicle 2009 model year or newer, you and your immediate family members residing at the same address are eligible to take advantage of the Nissan Canada Finance Loyalty Program.
To ensure the process runs smoothly and fairly, NCF has selected an independent 3rd party company, AutoVIN, to complete all vehicle condition and inspection reports on behalf of NCF. All of their Field Inspectors receive continuous training on NCF’s standards and procedures.
To alleviate any concern and anxiety over this process, NCF provides a detailed wear & tear guide in the 6 month mailing that you will receive. This guidebook outlines exactly what NCF considers excess wear and tear and also provides a Driveway Check-up tool which will assist you in performing your own self-assessment. It is recommended that you schedule an appointment with your Dealership to rectify potential excess wear and tear problem areas before grounding your leased vehicle.