Finance Takeover in Canada: We've got You Covered Too

A finance takeover may not sound as popular as a lease one but, you know what, lots of people do it too. If you are not new to it, there aren't many options to show it to everyone out there. At our "Takeovers Marketplace" we welcome everyone with a Finance/Lease Takeover to publish his deal and help you boost it up to all Canada online.

Financing Has An Original Purpose: Owning

When someone finances a vehicle, has a clear purpose from the very beginning: owning it. When you are at the dealership, right before grabbing the vehicle, you come up with that decision thinking on a "long-term" intention to own the vehicle, otherwise, you will be likely to evaluate the leasing alternatives. We could summarize it by saying that leasing doesn't fit the case and that you may have future intentions such as:

  • Keeping it for a longer period of time: And I will explain this using the sample of a Mechanical Engineer friend of mine. He has such knowledge of mechanics that he feels confident enough to come up with future decisions regarding his cars. He can refute a garage "evaluation" of a malfunction and come up with an affordable and acceptable agreement with garages that helps him rolls vehicles up to 250,000 km confidently. But that is not a generalized case. Most of us, we go to garage shops right after the warranty is over just to pay thousands in what we assume (and are told) will solve the problem. That is why I've always said that cars for more than a decade old are ideal for people who know how vehicle mechanics work. Otherwise, you will end up paying a lot to people who really do know.
  • You expect it to last more than the financing period at an affordable cost: While this is very attached to the previous point, manufacturers like Honda and Toyota have a reliability prestige that results in a more extended life and better ROI (Return On Investment) that is superior to most other manufacturers.
  • You intend to re-sell it: Going back to the ROI fact, yes, you expect to sell the vehicle either to a dealership or to an individual. I've known multiple people who confidently finance the cars during 4 - 5 years to later re-sell these and recover a considerable amount of the vehicle original value back.
  • You will drive a lot: Yes, that is another point if you see it only from the "cost" perspective. I invite you to read my article about the mileage breakpoint between leasing and financing
  • Work vehicles: Businesses sometimes require vehicles that will be used at and "excessive" way. Heavy loads, lots of miles(km), multiple drivers, extreme conditions and locations, custom modifications and painting work for branding/marketing. Leased vehicles are the property of the financing entity, and the level of care is expected to be superior.
  • There are multiple other...

On the specific case of work vehicles, although it is popular to lease passenger vehicles for businesses, it is also prevalent to see pickup trucks (the most sold vehicles in Canada) and minivans (for taxis & transportation) to be financed. 

Things Can Change

Yes. Anytime. Your original plan may be affected because of multiple reasons such as marriage, moving, a new family member, divorce, work change, a new work vehicle was given to you... there are many many reasons that can affect your plans.

This is the part where we talk about what to do when that happens...

Well, although it is not branded for financing, our new Lease Takeover Marketplace supports Finance Takeovers too. In fact, there are multiple listed already in it.

The only difference between a Lease Takeover, regarding listing, and a Finance Takeover, relies on the end Residual Value of the vehicle. You can read more about this specific difference here, but basically feel free to post your finance/lease takeover in our marketplace.

We've got you covered too.

Explore the Finance/Lease Takeover Marketplace

About the author

Jorge Diaz is a passionate car lover, winter driver & Software Engineer. For the last 10 years, he has built Online Solutions used by more than 5,000 companies across the globe. He founded LeaseCosts in 2016 with the purpose of simplifying and helping Canadians to better understand the complex market of car leasing in Canada. You can connect with him at

Jorge is also the author of Car Leasing Done Right: A Canadian Guide for Understanding & Optimizing Vehicle Leasing Costs, released on Nov. 5th, 2021. It is available at