Lease vs finance in Nunavut
Original AutoMart Canada notes for shoppers in Nunavut. Rates and programs change — confirm with a dealer, insurer, or the provincial government before you buy.
Leasing in Nunavut means tax on the payment stream (GST only at 5% — no territorial sales tax on a new vehicle.). A loan means tax on the purchase, then interest. Neither is “cheaper” until you fix term, residual, kilometres, and the money factor.
Residuals are set by the captive finance company. High-kilometre rural driving in Nunavut can make a loan the cleaner path.
AutoMart is not a lender. Use the lease and payment calculators, then apply so a dealer or finance partner can quote real numbers.
City hubs in Nunavut on this site include Iqaluit. Open the Nunavut city list or the Canada map.