The main idea behind LeaseCosts is to provide a friendly tool that allows anyone to check the status of the Canadian Cars marketplace. This is what is commonly known as the Canada car lease calculator.
As the main factor for making the initial decision during a new car leasing process is the price, we have built this amazing tool that allows you to filter and explore all available Lease Options on the market in a single place.
The following article can be used as a guide that explains how to use it, understand the results and what each particular component does.
The Car Lease Calculator: we show you what you will pay
Making price calculations is always tricky. Even more when provincial and federal taxes are added later. This is why our Lease Explorer includes all prices with all the taxes on top.
Just to mention an example: In the province of Québec, a 610CAD/month price can quickly turn into 700CAD/month once Sales Taxes (14,95%) are included.
This results in the fact that each time we made an estimation of a monthly budget for a Car, we don't want to miss almost 100CAD difference from our original calculations.
We will always include Sales Tax and the price you see, is what will be debited from your account every single month of your contract.
We gather all prices from Manufacturers + Discounts + Interest Rate
Doesn't make much sense to display a monthly price if this is not up to date with the actual incentives that manufacturers offer every single month.
From the 1st to the last day of each month, manufacturers study previous months' results and make decisions based on it. This, plus some other factors, will help manufacturers prepare their incentives every single month to match with the actual market demand.
This means that even maintaining the same MSRP (Manufacturer Suggested Retail Price) during the whole year, the monthly price of a car usually varies month to month(while the value remains the same).
Just to mention an example, on February 2017, the Honda Civic LX Sedan dropped from 305CAD/month to 275CAD/month for a 60 months lease on March of the same year.
The example of the Civic illustrates how Honda Canada is willing to go down by 1,800CAD per unit, with the intention to balance the historical level of sales that usually occurs in March.
Each Car Card has all the info you need
Once you understand how our pricing works, we can take a look at the Car Card or listing result.
Monthly Price: The price with all discounts, interest rate, and 0 downpayments. The only way to make these all be at the same level is to restrict it to those parameters.
Car Base Model: For each car model (i.e. Tucson, Elantra, Sonata...), we show the three base ones for manual, automatic & AWD. This will allow you to filter all cars for AWD and get, for example, the price for the base 2017 Hyundai Tucson that comes with AWD.
Manufacturer Link: As our purpose is to facilitate, once you got a clear idea of what you want, you can just jump to the manufacturer website and see how much more will result from adding the accessories, or sub-products you want.
Lease Term: How much time you will be paying this monthly price.
Best Quote Request: Ask our brokers to beat that price for you and FOR FREE!
Offer Duration: The validity of the current price by the manufacturer.
Adjust the price to your needs
Everyone looks for something different. For sure I've noticed so after months of analytics review of the Lease Explorer. Well, the good thing is that it was designed for it: to let anyone just drag it around to an affordable value and then come up with a set of options
As I mentioned before, once you set your price range, the Lease Explorer will start reviewing prices on LeaseCosts database for showing all the matching results of a range between 15CAD more expensive and more cheaper.
This is a part we have emphasized as it's incredible the things you can note once you see everything in context.
Try to goo deep on the options around your budget, but more than nothing, go down and check the other alternatives cheaper to the ones you are expecting to see. You'll be amazed at what you will see in the market, and that is what most people love of the Lease Explorer we built.
Use the filters
Of course, filter, filter, and filter. The filters you need to simplify your search, are just ready to go. Among +600 Offers, filters will put you on the proper place in less than 30 seconds.
Check it regularly
All prices move from one month to the other. Manufacturers just do it during the first 1 to 4 days of the month, usually way faster.
If you are still not decided, do not know if it is the right moment to jump into a lease or just want to be aware for letting your friends/family know, just jump once a while.
We use to publish regularly our offers report, so just connect with us and drive safe!
