Any make or model of vehicle qualifies for the AutoLEASE program whether it be a new or used vehicle. Vehicles may be factory ordered to your exact specifications, taken from current dealer stock or located from a variety of preferred sources nationally.

Lease payments are based on preferred pricing for new or used vehicles and are fixed for the term of the lease regardless of fluctuating bank interest rates. All payments are conveniently made through pre-authorized payment from the account of the lessee's choice.

Lease terms may be arranged to suit each individual's needs and finances, and range from 24- 48 months. Open-end leases have the added flexibility of an early termination schedule providing the option of purchasing the vehicle after 24 months or maintaining the lease for the full term.

Although no down payment is required on approved credit, down payments or trade in vehicles may be applied to reduce monthly payments. Where the proceeds of sale of a trade-in vehicle which is owned by the lessee are applied to the new leased vehicle, the lessee recovers the provincial and federal taxes on the proceeds of sale resulting in a significant saving.

Extended manufacturer's warranties, aftermarket services such as audio systems, rust-proofing, paint sealants, interior protection sprays, and a host of other services are available at preferred prices under the AutoLEASE program and can be conveniently included in the monthly lease payment.

Seven Reasons to Lease

1. Leasing is an alternative form of financing, freeing up cash and lines of credit for investment in appreciating assets or to pay down higher interest rate debt.
2. Leasing typically has a lower monthly payment compared to other forms of financing.
3. New leased vehicles are purchased tax exempt and therefore do not require the additional expense associated with financing the GST or PST as with an outright purchase. Taxes are paid based on the monthly lease payment.
4. Leasing guarantees a fixed interest rate and therefore a fixed payment for the term of the lease. Alternative forms of financing may have fluctuating interest rates and this may be costly in the long term. Leasing makes budgeting for monthly expenses easier.
5. Leasing provides flexible lease terms from 24 to 48 months or any term in between.
6. Leasing lets you choose any make and model of vehicle, new or used.
7. Leasing allows you to trade in your current vehicle, accept cash or apply the proceeds to reduce your lease payments.

Open-End AutoLEASE Program

The AutoLEASE open-end lease program is totally flexible, requires no kilometer limits and provides for a residual value guarantee by the lessee based on the projected wholesale value of the vehicle at the end of the lease term.

Each open-end lease is designed to each lessee's requirements for annual kilometers, while offering any make and model, new or used. Provision is made to accept your trade-in vehicle, make cash down payments and include aftermarket services and extended warranties at fleet prices in the monthly lease payment.

AutoLEASE offers lease terms up to 48 months with a buyout schedule after 24 months thereby providing the flexibility and freedom necessary to meet rapidly changing vehicle requirements. On lease expiry, or before as per the buyout schedule, the lessee may purchase the vehicle for the stated buyout amount, have a friend or relative purchase the vehicle at a price stated by the lessee with any surplus being paid to the lessee, or Bodkin will sell the vehicle on the lessees behalf.