What Quebecers should know about leasing a car

Here are some key points to consider:

1. Understand the length of the lease: Car leases are generally for 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'll be charged extra per kilometer. 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 of purchasing the vehicle at a predetermined price. Consider this option if you are satisfied with the vehicle and its condition remains excellent.
4. Maintenance and repairs : Although the lessee is generally not responsible for major repairs, he or she is required to keep the vehicle in good condition. This includes regular oil changes, inspections and other preventive maintenance.
5. Insurance: Renters must take out adequate insurance to cover the leased vehicle. Compare insurance options to ensure you get the best coverage at the best price.
6. Early termination fees: If you need to terminate the lease early, early termination fees may apply. It's crucial to read and understand these conditions before signing the contract.
7. Impact on credit rating: As with any lease or credit agreement, your ability to make regular, on-time payments can affect your credit rating. 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.