Should I Lease or Finance My New Car?

Is it better to lease or finance a new car? There isn’t a clear-cut answer, because
each scenario has its own set of pros and cons and honestly, it really comes
down to your lifestyle and how you prefer to pay for things. Let’s compare
leasing with financing in a little more detail:

OWNERSHIP
Lease – The vehicle is titled in GM’s name, and at the end of term, you have the
option to purchase the vehicle or turn it in and lease a new one.
Finance – The vehicle is titled in your name, and you own the vehicle free and
clear after the terms of your purchase finance agreement are fulfilled.
DOWN PAYMENT
Lease – The down payment amount required for leasing varies based on the
lease transaction structure and monthly payment you desire, but in general,
is often lower than financing.
Finance – In some cases, the down payment amount needed for buying may be
higher when compared to leasing.
KILOMETER LIMITS
Lease – Kilometer limits (typically 20,000 or 24,000 yearly) apply as per your
lease agreement, and charges may be applied if these limits are exceeded.
Finance – No contractual limits on kilometers apply, however vehicle resale
values generally decrease as more kilometers are added.
MAINTENANCE/WEAR
Lease – You are required to service the vehicle as per GM’s maintenance
schedule and cannot make any changes to the vehicle’s appearance.
Finance – You can change the appearance of the vehicle, and select which
repairs to make, subject to the terms of the purchase finance agreement.
MONTHLY PAYMENTS
Lease – Monthly payments may be lower than financing the same vehicle, since
you only pay for the value of the vehicle during the term of the lease.
Finance – Monthly payments may be higher than leasing the same vehicle, as
the full value of the vehicle is paid over the term of the contract.
TAX SAVINGS FOR BUSINESS OWNERS
We have seen more and more businesses leasing vehicles to enjoy tax savings.
We recommend you speak to your accountant to see how you could benefit
from leasing your next vehicle.
In a nutshell, leasing makes it easier to get more car for less money, as you only
pay for the use of the vehicle for two or three years, instead of paying for the
vehicle itself. Financing, on the other hand, frees you from the restrictions
involved in leasing, such as mileage caps, and the vehicle is yours to do with as
you wish.
Have you ever wondered if you get more money by selling your car privately or
from trading it in at the dealership? Stay tuned for our next article.

Learn more about Kipp Scott.

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Kipp Scott GMC Cadillac Buick is a family-owned business that has proudly served Red Deer, and all of Alberta, for over 50 Years since first opening our doors in 1968. Treating our customers with respect has always been our number-one priority, and we believe when it comes to selling vehicles, honesty is the best policy. Rest assured we’ll do everything we can to make sure you leave our dealership 100% satisfied.

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Alberta

$1,200 Covid payment for 76,500 more Albertans including truck drivers, janitors, taxi drivers, security guards, farm workers, etc

Published on June 22, 2021

Government of Alberta

More Albertans to receive $1,200 Critical Worker Benefit

76,500 more workers to receive a one-time payment to recognize the risks they have taken to support Albertans and the economy.

The Critical Worker Benefit is a joint federal-provincial program with $465 million available to recognize the hard work of critical workers during the pandemic.

During the first round of the Critical Worker Benefit Alberta’s government provided $1,200 payments to over 277,800 workers in the healthcare, social services, education and private sectors who deliver critical services to Albertans or support food and medical supply chains.

Workers in new job categories will be eligible for the same $1,200 payment. This includes workers in social services and the private sector who provided critical services to Albertans, were essential to the supply and movement of goods, and faced greater potential risk of exposure to COVID-19 through their work environments.

To be eligible for the benefit, employees must have worked a minimum of 300 hours during the period of Oct. 12, 2020 to Jan. 31, 2021. Support staff working in licensed child care must have worked a minimum of 243 hours during this period.

Eligible social services sector employers do not need to apply. Employers of support staff working in licensed child care programs, disability support workers providing independent living supports, respite, community access, and employment supports, and front-line workers in seniors-serving organizations and non-profit affordable housing providers will be contacted by the Government of Alberta to confirm details.

Eligible private sector workers making $25 per hour or less will also qualify for the benefit. These workers include: truck drivers, farmworkers, security guards, cleaners, funeral workers, employees at quick service and dine in restaurants and taxi drivers who can demonstrate they worked at least 300 hours during the eligibility period. The complete list of eligible workers for this phase of the program are available in the Application Guidelines for the private sector at alberta.ca/criticalworkerbenefit.

Private sector employers can apply on behalf of employees at alberta.ca/criticalworkerbenefit as of June 22. Employers have until July 23 to apply.

Employers will be responsible for distributing the $1,200 Critical Worker Benefit to their eligible employees.

Alberta’s government is responding to the COVID-19 pandemic by protecting lives and livelihoods with precise measures to bend the curve, sustain small businesses, and protect Alberta’s health care system.

Quick facts

Alberta’s government contributed $118 million to the $465 million program.
A total of about $367 million has been spent on about 289,800 workers.
$355 million has been spent on about 277,800 workers in the phase one of the Critical Worker Benefit. This includes social services workers, health care workers, education workers and critical private sector workers, such as grocery cashiers, pharmacy assistants, and gas station attendants.
Announced in April 2020, Alberta also used $12 million of the one-time federal funding along with a provincial investment totalling $30 million to date to provide a $2 an hour wage top-up for about 12,000 health care aides working in long-term care and designated supportive living facilities.
About $99 million is available for about 76,500 workers in the social services and private sectors.
The break down of benefit recipient is:
- Up to $18.5 million in the social services sector supporting 14,300 workers
- Up to $80.3 million in the private sector supporting 62,200 workers

Workers in the following private sector occupations are eligible to receive the Critical Worker Benefit:

truck transportation, primarily engaged in the transportation of goods, in the following occupations:
- transport truck drivers
- light duty cleaners
- janitors, caretakers and building superintendents
- security guards and related security services
- material handlers
- dlivery and courier services drivers
- other trades helpers and labourers
crop production, animal production or aquaculture directly involved in the production of food for human consumption
funeral homes, cemeteries and crematoria
- not eligible: municipally-run funeral homes, cemeteries and crematoria
security guards
- not eligible: private investigators, armoured car guard, house detective, personal bodyguards and security
light duty cleaners, janitors and specialized cleaners working in commercial, institution and industrial locations
- not eligible: private residence cleaners
taxi drivers
- not eligible: chauffers and drivers of ride-share companies such as Uber and Lyft
workers in full-service restaurants and limited services eating places – workers must be primarily involved in the preparation, cooking or service delivery in an eligible establishment
- not eligible: drinking places that do not serve food onsite

Read the application guidelines for the private sector for more information.

Business

City Hall reopening Monday June 21 – details

Published on June 21, 2021

cityofreddeer

City Hall reopening for payments and in-person customer service

Red Deer City Hall will reopen for utility and tax payments on Monday, June 21, and licensing and permit customer service and payments on July 12. The re-introduction of in-person customer service and payments is in alignment with the provincial easing of restrictions that is currently taking place. City Hall will be open Monday through Friday, 8 a.m. until 4:30 p.m. with the exception of holidays.

“We are excited to be reopening City Hall for in-person payments and customer service. This long awaited reopening will enable us to reconnect with our customers in person and still support doing business with us online, where possible,” said Acting City Manager Tara Lodewyk.

Starting Monday, June 21, 2021, key customer service employees will return to City Hall with a phased reopening taking place in the coming weeks and months. With renovations that took place while the building was closed, all customer and public interactions are now provided on the main floor of City Hall.

Some additional changes include new windows and doors, improved customer service kiosks, new security controls and numerous health and safety measures that serve to protect employees and customers accessing City Hall. All renovations were focused on making necessary changes that facilitate improved customer interactions while considering the safety, health and wellness of all employees and citizens.

“As we reopen City Hall for in-person customer service, the health and safety of our citizens and employees is still top of mind. Masks are required inside the building and there will be capacity limits for the number of customers permitted inside at one time,” said Lodewyk. “We kindly ask that anybody coming to City Hall, or accessing any of our recreation or public facilities, uphold all public health restrictions as we work to keep everyone safe throughout the phased reopening.”

A full reopening and return to work for all City employees is expected to take place between June 21 and September 7, 2021. In many cases, City employees have continued to report to their workplace, in-person, based on the requirements of their position; however, with the lifting of the provincial work from home order, The City will welcome its remaining employees back into the workspace with the intention to have everybody back between now and September. This includes City Hall, the Professional Building, Civic Yards and all City owned and operated recreation and culture places and spaces.

“Covid-19 has limited us in many ways. It has taught The City to innovate, work differently and find efficiencies. As we transition back to in-person service, we ask our customers to be patient with us as we navigate the new challenges of our ever changed in-person business offerings. Our business looks different than it did when we closed City Hall more than 15 months ago, and while we are excited to be once again serving you in person, we do expect some bumps along the way,” said Lodewyk.

With changing and modified provincial restrictions continuing to be announced, The City of Red Deer will adapt and update its programs, services and offerings on an ongoing basis. This will include everything from the number of people permitted within a facility at one time, to masking requirements.

“We will continue to take our direction from the provincial government as they ease restrictions and introduce their phased relaunch strategy,” said Lodewyk. “We share the community excitement around the easing of restrictions and continue to work together with our community to uphold public health orders and preventing the spread of Covid-19.”

Starting June 21, the following payments can be made in person at City Hall: