Initially, there are essentially two types of leasing agreements: open-end and closed-end leases. Whether you opt for an open-end or closed-end lease, the residual value of the vehicle is determined at the time of signing the contract. However, in a closed-end lease, NCF secures the residual value and takes responsibility for it until the contract's expiration date. In the case of an open-end lease, you (the lessee) are responsible for the vehicle's residual value at the end of the lease term.
To ensure your safety and peace of mind, all lease agreements offered by NCF are closed-end leases. We take on the associated risk. As a result, if the market value of the vehicle exceeds the residual value we have set and you decide to purchase it, you stand to benefit. If the market value is lower, you are shielded from risk.
Our leasing plan allows you to drive up to 24,000 km each year, which corresponds to the average annual distance traveled by Canadians. If you make heavy use of your vehicle and anticipate exceeding the standard annual limit of 24,000 km, it might be more cost-effective for you to purchase additional mileage in advance.
There can be a significant difference between paying $0.08 per kilometer at the start of the lease and $0.10 per kilometer at its end. This is another way for your L'Ami Junior Nissan dealer to tailor the lease agreement to your needs.