SNL | Frequently Asked Questions
1. Do you have more information for Commercial Vehicle Operators
The Ontario Ministry of Transportation offers extensive information about operating a vehicle commercially. You can check out their FAQs here: MTO Commercial Vehicle FAQs.
2. When do I need an Emissions Test for my vehicle?
Emissions Tests are required in the province of Ontario to be updated yearly for heavy-duty vehicles or once every two years for light-duty. You can find out more information here: Ontario Drive Clean Test FAQs
3. Do I need to make a down payment?
No down payment required (except security deposit which is refundable at lease termination).
4. How are the payments calculated?
Payment is calculated on the difference between the vehicle's original value and its expected value at the end of the lease term; benefit is a lower monthly payment based on your driving needs.
5. Why is it advantageous to lease?
With no major cash outlay and lower monthly payments, you will have more cash available to payoff other bills or for savings; frees up line of credit for better applications.
6. Will you provide selection assistance?
The Leasing Consultant can guide you through your selection process, emphasizing vehicle type, resale values, and option availability, as well as explaining the types and terms of leases available, all with consideration to your driving and financial needs.
7. How convenient is it to make my payments?
No need to arrange bank financing; also, as a full service leasing company, we can offer you vehicle comparisons and quotes on many makes and models. One stop shopping can save you a lot of time.
8. How often can I recycle my vehicle?
Leasing allows you to recycle your leased vehicle every four to five years before expensive maintenance costs occur. Choose the term that best reflects your anticipated use of the vehicle to
maximize this advantage.
9. Do I need to determine my vehicles value?
No need to determine the value or find a buyer; simply drop off the car. Of course, the option to purchase is always available.
10. How does inflation effect me?
You will determine your payment per month for the full term of your lease. If you choose a lease with a "buy-back", you can buy the vehicle at lease-end with inflated dollars.
11. Do I need to calculate my leases depreciation?
Simple record keeping - no need to calculate annual depreciation and monthly interest; its all in your monthly payment.
If you have any questions please "Click Here" and fill out our contact form.