NISSAN CANADA LEASING

Leasing can be a great cost-effective option when you’re not looking to own. Learn the ins and outs of leasing a new car and see how Nissan Canada Finance is here to help.

WHAT IS LEASING?

A Long-Term Rental

When you lease a car, you enter into a contract with a company like Nissan Canada Finance and agree to terms around the vehicle’s use. These can include the duration of the lease, a yearly mileage cap, acceptable damages and the like. It’s a long-term rental and it offers lower monthly payments than financing. That’s because you’re paying for what you use — rather than paying to own.

How You Can Benefit

Lower monthly payments are great, but did you know there are other ways you can benefit from having a lease? Learn more about the perks of leasing and see whether it’s the right fit for you.

More Pocket Money

Leasing requires lower monthly payments, because you’re essentially paying for how you use your car, rather than 100% of the vehicle’s value. You’re also not being taxed on the total cost of your vehicle — only on what you pay per month.

Flexible Down Payments

When you lease a new vehicle, you can still make a down payment — with the option to tailor it to your needs. A higher down payment means lower monthly payments.

Nissan Canada Finance also offers a Multiple Security Deposit program, which allows you to lower your annual interest rate up to 1.50% on a lease contract. Choose between 4, 6, 8 and 10 deposits and enjoy the following rate reductions.

4 deposits | 0.75%
6 deposits | 1.00 %
8 deposits | 1.25%
10 deposits | 1.50%

Plus, we offer a pre-paid lease option for added flexibility. That means no monthly payments, lower tax and interest, no vehicle debt and the convenience of returning your car hassle-free if you’re looking for a change.

Change Vehicles at Lease End

If you’re spending less monthly, it can be more feasible to move up to a newer or better equipped model — a plus for those who like to try out different vehicles.

Try Before You Buy

There’s also the option to purchase your vehicle at the completion of your lease. That means you’re buying a car you’re already comfortable with. See your Nissan dealer for details.

A woman looking at her lease payments on phone

CALCULATE NISSAN LEASE PAYMENTS

Break Down the Costs

Thinking about leasing a Nissan? Use our payment calculator to explore different leasing options and see what they add up to monthly. Then find out how they compare to financing options shown side by side.

Estimate Payments

How Leasing Works

When you lease, it’s key to understand residual value. In basic terms, it’s the dollar amount your vehicle is estimated to be worth after you’ve used it. With certain leases, based on your contract and how you use your vehicle, you may need to pay extra if the residual value ends up being lower than the number you agreed to upfront. That said, Nissan Canada Finance does not offer leases with these terms, so you won’t need to worry about assuming this level of risk.

A man placing wooden planks in Frontier's trunk

Types of Leases

There are two types of leases: open-end and closed-end. In an open-end lease, the terms are often flexible, but you can be charged penalties if you go over your contract’s mileage or wear and tear limits. In a closed-end lease, the terms are more fixed, but the lessor takes on any risk associated with a vehicle’s depreciation in value.

View Leasing Glossary

A woman standing leaning against Nissan's trunk

Why Lease a Nissan?

Nissan Canada Finance offers closed-end leases only, which means we guarantee residual value and assume certain risks at lease end. If you choose to purchase your vehicle and the market value is higher than the residual value, you come out ahead. If it’s lower, you can return the vehicle.

What a Nissan Lease Offers

Our lease program allows for 24,000 km of driving per year. That’s about what the average Canadian drives. If you’re a high-use driver and expect to exceed the standard lease’s 24,000 km yearly limit, you may find it more economical to purchase extra km up front.   

It's the difference between paying 8¢/km in the beginning and 10¢/km at maturity — yet another way your Nissan dealership can tailor a lease to meet your needs.

Contact a Dealer

READY TO LEASE?

Consider a Few Things

Before you lease a vehicle, think through how you’ll use it on a daily basis. To help you determine whether leasing is right for you, here are a few key things to keep in mind. 

Lease terms in Canada often cover up to 24,000 km
You may need to add extra km to your agreement
You won’t own the vehicle when your lease is up
You’ll be responsible for excessive wear and tear

A man going through Nissan wear and tear guide

NISSAN WEAR & TEAR GUIDE

Learn Before You Lease

Find out what normal wear and tear looks like — and what’s considered to be excessive. Review the Nissan Wear & Tear Guide before you lease and know what to expect when it comes to cracks, dents, scratches and scrapes.

Download Guide

What Happens at Lease End?

Generally, you can replace, return or purchase your vehicle when your lease is coming to a close. If you go with Nissan Canada Finance, you can expect communication outlining your options toward lease end — along with exciting offers you can take advantage of should you continue on with Nissan.

Explore Your Options

Whatever path you take at lease end, Nissan Canada Finance is dedicated to making your customer experience as seamless as possible.Explore the different steps you can take when your Nissan lease is up, and connect with your local Nissan dealer about which options are right for you.

Replace Your Vehicle

Turn in your current vehicle in accordance with the terms of your lease agreement and lease or buy a new Nissan. Before you do, check to see if you’re eligible for the Nissan Canada Finance Loyalty Program.   

Please note, vehicles may be subject to an inspection whether or not the dealer purchases your vehicle at lease-end.

Purchase Your Vehicle

If you end up purchasing your leased vehicle, there will be no charges for excess mileage or wear and tear. You will not be responsible for any end-of-lease costs other than the predetermined purchase price (residual value) and the incidentals outlined in your Lease Agreement — plus applicable taxes.

Incidentals include: the cost of all governmental or other regulatory fees and taxes; all safety standards, emissions and other required certification incurred in connection with the purchase of your vehicle — and the transfer of ownership of the vehicle to you.

Should you choose to purchase, and require a purchase loan, Nissan Canada Finance may be able to assist. Your dealership can provide you with more details. Please note, administration fees may be charged at the dealership.

Return Your Vehicle

If you decide to return your Nissan, keep the following details in mind.

Our Lease Customer Network department will contact you approximately 30 days prior to maturity to answer any questions you may have. 

Prior to your maturity date, we strongly recommend contacting your Nissan dealer to schedule an appointment for your vehicle drop-off. Please remember to bring your two key fobs when turning it in. 

Your Nissan dealership will ground your vehicle in your presence using an internal website. At this time, they will print off a Nissan Canada Finance grounding receipt to be signed by both you and the dealership. Be sure to retain this form; it’s a receipt acknowledging the date you returned the vehicle.   

The grounding receipt is not a vehicle inspection report. If the dealer does not end up purchasing your vehicle, an independent third-party inspector will complete a detailed condition report. This report will then be used by Nissan Canada Finance to determine whether excess wear and tear charges are warranted, or if the vehicle has been driven beyond the allowable contract kilometres — which would then be charged to you.

A woman taking out her stuff from Nissan's trunk

NISSAN LOYALTY PROGRAM

You Could Be Eligible

Find out whether you qualify for the Nissan Canada Finance Loyalty Program. If you’re already a Nissan driver, this could apply to you.

Explore Loyalty

FAQ

Can I lease a pre-owned vehicle?

Nissan Canada Finance (NCF) only offers leases for new Nissan vehicles. However, your local Nissan dealer may offer pre-owned leases for Nissan and INFINITI vehicles.

Do I have to notify NCF if my lease vehicle was involved in an accident and sustained damage?

Yes, please contact NCF at 1-800-268-6499 (Eastern Canada) or 1-800-268-0764 (Western Canada). If your insurance company is issuing a cheque that NCF must endorse, copies of the insurance estimate and the repair bill showing the completed repairs are required. A representative of our Insurance department will provide you with the details.

How much can I get for my trade-in?

It depends on a number of factors, including the vehicle model, year and condition. You can also get a general idea of your car's worth by checking independent car value guides. However, a vehicle survey by your Nissan dealer is always necessary to determine whether that Nissan dealer is willing to accept a trade-in and what the final trade-in value will be.

There’s an entry on my credit report from NCF. Who do I contact?

The credit bureaus will help you investigate any issue in your credit file.

You may contact them at:

Equifax Canada Inc.
1-800-865-3908
www.equifax.ca

TransUnion of Canada Inc.
1-866-525-0262 for residents of Canada, except Quebec1-877-713-3393 for residents of Quebec www.tuc.ca

Can I change the due date on my account?

Contact our Customer Service Department to verify that your account is eligible and to determine the terms for a payment due date change. If eligible, you may make a written or verbal request to process the due date change. You may reach a Customer Service Associate by calling 1-800-268-6499 (Eastern Canada) or 1-800-268-0764 (Western Canada), Monday through Friday, from 9:00 a.m. to 8:00 p.m., Eastern Time.

Can I change the account for my pre-authorized payment?

Yes, please mail or fax your request along with a copy of the cheque for the new account-marked "VOID" to NCF. Please ensure the cheque is fully MICR encoded as we cannot accept handwritten account number information.

NCF will only accept cheques drawn on accounts in the name of the lessee/lessees on the agreement and we cannot accept those drawn on lines of credit or credit cards. If you wish to have the payments taken from a business account not listed as a lessee on the account, you must provide full business signing authorities to support the request.

Email: bankinfo@nissancanada.com
Fax: 1-877-848-0880

Can I skip or defer the payment on my account?

Your account may qualify for a payment extension. Please contact our Customer Service Department at 1-800-268-6499 (Eastern Canada) or 1-800-268-0764 (Western Canada), Monday through Friday, from 9:00 a.m. to 8:00 p.m., Eastern Time.

What if I can no longer afford the payments on my lease account?

If you cannot afford to make your monthly payments, contact the NCF Collections Department or your dealer immediately and explain your situation.

Will NCF allow another party to take over the payments on my account?

Subject to credit approval, yes. If you would like to have another party assume the payments on your existing contract, that party would submit a credit application through your local Nissan dealer to NCF for review. There is a minimum of $750.00 plus applicable GST and Provincial taxes fee for each Assignment or Assumption.

How do I notify NCF if I’m moving?

Please access the Nissan Owners Portal to update your account information. Login or register here.

My name recently changed. How do I update the name on my lease?

Please send written verification of your legal name change, such as marriage license or divorce decree to:

Nissan Canada Finance
5290 Orbitor Drive
Mississauga, Ontario
L4W 4Z5
Attention: Customer Service

How is my payment amount determined?

Your payment amount is determined by the sum of the Rent Charge and the depreciation and any amortized amounts over the term of the lease. Except in the case of a single-payment lease, these amounts are totalled and divided by the Lease Term. Any applicable monthly taxes are then added.

Will my late payment be reported to the credit bureau?

NCF is obligated to report any payment received more than 30 days past the due date.

Keep Exploring

Estimate Payment Learn About Financing Contact a Dealer

Choose Your Language

Language