Lease vs finance in Prince Edward Island
Original AutoMart Canada notes for shoppers in Prince Edward Island. Rates and programs change — confirm with a dealer, insurer, or the provincial government before you buy.
Leasing in Prince Edward Island means tax on the payment stream (HST at 15% 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 Prince Edward Island 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 Prince Edward Island on this site include Charlottetown, Cornwall, Stratford and Summerside. Open the Prince Edward Island city list or the Canada map.