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Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n

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Old 01-06-2019, 11:45 AM   #1
Why'd you do that for?
 
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Third Party Lease

Looking for recommendations on third party leasing companies. I've dealt with First West Lease, but it seems that their account exec is no longer with the company -- also tried reaching out to their HQ and no luck

Anyone with first hand experience with one?


I already googled and searched the forums -- no luck here
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Old 01-06-2019, 01:01 PM   #2
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What kind of car are you looking to lease?
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Old 01-06-2019, 04:04 PM   #3
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For business stuff at work I used to deal often with Ensign Pacific Lease in Vancouver as well as Jim Pattison Lease in Burnaby. Ensign usually had better prices unless it was something that came from a Pattison owned dealership.
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Old 01-06-2019, 06:38 PM   #4
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We use
https://www.atticusfinancial.com
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Old 01-06-2019, 07:43 PM   #5
Why'd you do that for?
 
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Thanks everyone, had a few people message me. For everyone else who's a lurker, I was suggested coast capital and Scotia.

Haven't decided on the vehicle yet but likely new or 1-2 years old
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Old 01-06-2019, 09:04 PM   #6
y'all better put some respeck on my name
 
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Westminster Savings does leases and you can also try Wilson @ Pffaf leasing.
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Old 01-06-2019, 09:51 PM   #7
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I'm just curious about this but if you're getting something near new from a dealer what advantages are there with this? So the lease company just buys the car for you to lease?
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Old 01-07-2019, 08:13 AM   #8
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Quote:
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Wilson @ Pffaf leasing.
^^
This
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Old 01-07-2019, 11:00 AM   #9
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I've used Westminster Savings for my Telsa model 3 and F150 leases. Worked really well for my truck but the residual for my car ended up being really low. Thing to really consider with these 3rd party leases is that the residual is guaranteed by you where as the manufacturer leases are typically guaranteed by them. Eg if you have an accident, the accelerated depreciation is on you.
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Old 01-08-2019, 11:50 PM   #10
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King's Auto Lease in Parker Place/Richmond

Home - King's Auto Lease
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Old 01-09-2019, 10:30 AM   #11
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I'm genuinely curious is there an advantage to use these instead of the manufacturer? I get that some people without the adequate credit history would not be approved but from what I see with car companies they tend to be very lenient.
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Old 01-09-2019, 12:09 PM   #12
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I'm genuinely curious is there an advantage to use these instead of the manufacturer? I get that some people without the adequate credit history would not be approved but from what I see with car companies they tend to be very lenient.
Used vehicles and private sales can be financed through 3rd parties as well as more flexible structures are offered. Not all OEM finance divisions will finance used vehicles even if it's off their lot.
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Old 01-09-2019, 01:38 PM   #13
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Would the rates even be worth it used? As I think most banks won't touch anything over 5 years and rates are usually 5%+ for finance
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Old 01-09-2019, 01:50 PM   #14
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what is the range in finance percentages for used cars through a third party?

I have been looking at a used mini for my partner but the dealership is offering finance at 6.9% for 3 years...
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Old 01-09-2019, 03:21 PM   #15
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I have deal with traveler and work out great for me
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Old 01-09-2019, 03:29 PM   #16
14 dolla balla aint got nothing on me!
 
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Would the rates even be worth it used? As I think most banks won't touch anything over 5 years and rates are usually 5%+ for finance
There's 3rd party lenders that rates start in the mid 4's and look at vehicles up to 10 years old. Obviously the older the car, the shorter the term. Definitely not as good rates as buying new from the OEM but there's still benefits like offsetting the cost, avoid paying taxes on the full amount of the vehicle (if it's sold before the lease ends), and writing off payments if it's for business purposes.
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