What are the restrictions of driving a “borrowed” vehicle?
Annual kilometres restrictions are a major limitation for customers who choose to lease. Lessors want their vehicles returned in saleable low-kilometer conditions, so they place kilometer caps on them. A typical yearly figure is between 20,000 and 55,000 kilometres. Beyond the established limit, fees accrue on a per-kilometer basis, usually in the range of $0.10 to $0.25 per kilometer. So if most of your driving is local, leasing makes sense. However, if you consistently tack on 500 or more kilometres a week, definitely look into a loan.
