Used 2015 GMC Canyon
- Comfortable but confident ride quality
- many available high-tech features
- fuel-efficient engines
- classy-looking interior
- maneuverable size.
- Some full-size trucks are just as fuel-efficient
- pricey compared to other midsize pickups
- low-hanging front airdam limits off-road potential.
Used 2015 GMC Canyon for Sale
Edmunds' Expert Review
The 2015 GMC Canyon is now the most up-to-date and refined midsize pickup truck available. Compared to dated rivals or even as an alternative to full-size trucks, this new Canyon is very appealing.
In recent years, there hasn't been a whole lot to choose from for compact or midsize pickup trucks. GMC even stopped producing its Canyon for a few years. There's some good news for truck shoppers, though. The GMC Canyon is back for 2015, and this time it's a much more appealing truck in every regard.
Built on the same platform as its Chevrolet Colorado cousin, the new Canyon is dimensionally larger than the version GMC discontinued three years ago. It's now more or less the same size as its Toyota Tacoma and Nissan Frontier rivals. From there, GMC's design and engineering teams turned their attention to enticing buyers with an appealing combination of performance and cutting-edge technology.
Starting with the practical improvements, the Canyon's new four- and six-cylinder engines are both more fuel-efficient and more powerful, with V6-equipped models now capable of towing up to 7,000 pounds. The interior gets an equally important update, highlighted by improved materials and an available 8-inch touchscreen, which comes complete with smartphone-like apps and voice controls designed to make it easier and safer to interact with mobile technology. As with many other GM vehicles this year, the Canyon also benefits from the latest version of OnStar, which includes a fast 4G LTE connection and in-car WiFi hotspot functionality. Other notable technology includes safety-oriented options like available forward collision and lane departure warning systems and a standard rearview camera.
The GMC Canyon does have a few minor shortcomings. Its newness is paired with a price premium, and chances are you'll pay a little more to get a Canyon than for some other rival trucks. Also, the minimal price difference and fuel economy savings between this new compact model and many light-duty full-size trucks -- once the two chief arguments for buying a smaller pickup -- may also turn out to make it less attractive than in previous years.
In your consideration process you'll want to compare the Canyon back to back with its two long-running rivals, the 2015 Nissan Frontier and 2015 Toyota Tacoma, to see just how far the midsize pickup segment has come. The Frontier and Tacoma are priced lower than the Canyon, but they're both nearly a decade old. To get a broader view of your alternatives, you may also want to have a look at the roomier, more capable and yet still fuel-efficient full-size pickups like the redesigned 2015 Ford F-150 and 2015 Ram 1500. But with so many positive qualities, we think the 2015 GMC Canyon is definitely a pickup you'll want to consider this year.
2015 GMC Canyon configurations
The 2015 GMC Canyon is a midsize pickup offered in two- and four-seat extended-cab and five-seat crew cab body styles. There are two bed lengths and four trim levels available: SL, Canyon, SLE and top-of-the-line SLT.
The entry level SL base model, which is essentially a well-equipped work truck, comes with 16-inch alloy wheels, projector-style headlights with LED daytime running lights, outside mirrors with built-in spotter mirrors, air-conditioning, cloth upholstery, a four-way power driver seat with manual recline, deletion of the rear jump seats, black vinyl floor covering, a tilt-only adjustable steering wheel, power windows, a rearview camera and a six-speaker audio system with a 4.2-inch color display and a USB port.
Stepping up to the Canyon trim level adds fold-up rear jump seats (extended-cab models only), as well as color-keyed carpeting and floor mats. Notably, this trim also allows you to add desirable options like an available Convenience package that includes keyless entry, cruise control, a rear window defogger, theft-deterrent system and the EZ-Lift tailgate. Other available options include the OnStar telematics system (with a 4G LTE connection and in-car WiFi hotspot) and an upgraded audio system with an auxiliary audio input jack, Bluetooth phone and audio connectivity and voice controls.
Springing for the upscale SLE gets you 17-inch alloy wheels, foglights, body-color outside mirrors and door handles, a rear window defogger, keyless entry, a folding rear bench seat (crew cab models only), an overhead console, nicer soft-touch interior trim materials, cruise control, an auto-dimming rearview mirror, a tilt-and-telescoping adjustable leather-wrapped steering wheel with audio controls, and an upgraded audio system built around the 8-inch color touchscreen that provides access to GMC's IntelliLink infotainment system that also adds satellite radio and three more USB charging outlets. OnStar telematics, Siri Eyes Free voice controls that work with late-model iPhones and a 4G LTE WiFi hotspot are also standard.
Option high points include an All-Terrain package, which is offered only on SLE models, that bundles 17-inch dark-tinted alloy wheels and all-terrain tires, an off-road-oriented suspension, automatic locking rear differential, hill descent control, front recovery hooks, heated front seats including a four-way power passenger seat and distinctive cloth upholstery. Also available is a Convenience package that includes automatic climate control and remote starting capability. An optional sliding rear window (requires the Convenience package) and a safety-oriented Driver Alert package that features forward collision and lane change warning systems round out the major add-ons.
The top SLT trim starts with most of the SLE's features and then tacks on remote starting, automatic climate control, leather upholstery, a four-way power front passenger seat, driver and front passenger power lumbar adjustment and heated front seats. The main options here include the Driver Alert package, the sliding rear window, a navigation system and a premium Bose seven-speaker audio system.
Performance & mpg
Beneath the hood, the 2015 GMC Canyon offers a choice of two new engines. The 2.5-liter inline four-cylinder that puts out 200 horsepower and 191 pound-feet of torque is standard across much of the lineup. A six-speed manual transmission, which is offered only on the extended-cab two-wheel-drive base model, returns EPA fuel economy estimates of 22 mpg combined (19 city/26 highway). With the available six-speed automatic transmission, it again rates 22 mpg combined (20/27) with two-wheel drive and dips to 21 mpg combined (19/25) with four-wheel drive. Properly equipped, four-cylinder models can tow up to 3,500 pounds.
The available 3.6-liter V6 produces 305 hp and 269 lb-ft and comes mated to the six-speed automatic. EPA fuel economy estimates for V6-powered two-wheel-drive models are 21 mpg combined (18/26); four-wheel-drive models are rated at 20 mpg combined (17/24). Properly equipped V6-powered models have a maximum towing capacity of 7,000 pounds. During Edmunds performance testing, a crew cab long bed Canyon equipped with the V6 and rear-wheel drive went from zero to 60 mph in 7.4 seconds.
On the subject of the Canyon's four-wheel-drive system, buyers should know it differs from the version offered on the Colorado by way of its additional "Auto" setting. This mode allows it to function like an all-wheel-drive system by automatically shifting power to the front wheels when road conditions turn dicey, but aren't yet bad enough to necessitate engaging either the 4WD High or 4WD Low settings via the dash-mounted knob.
Standard safety features on the 2015 GMC Canyon include antilock disc brakes, stability and traction control, trailer sway control, front seat side impact airbags, full-length side curtain airbags and a rearview camera.
Advanced safety technologies including forward collision and lane departure warning systems are offered as options on select models. The available OnStar telematics system can also provide emergency crash notification, stolen vehicle notification, roadside assistance and turn-by-turn navigation.
During Edmunds testing, a GMC Canyon in crew cab long bed configuration with rear-wheel drive and the V6 engine came to a stop from 60 mph in 124 feet, which is a very good result for a midsize pickup. Rivals and full-size pickups average about 10 additional feet.
The Insurance Institute for Highway Safety gave the 2015 Canyon its highest possible rating of "Good" in its moderate-overlap frontal offset crash test, the only test that agency has conducted thus far on this vehicle as of this writing.
The 2015 GMC Canyon's ride quality isn't exactly plush, but it feels a good bit less truckish than you might expect. Handling feels equally secure, with relatively little body lean when you're driving around turns. Also, the Canyon feels genuinely maneuverable from behind the wheel. It may be larger than the compact trucks of yore, but it doesn't feel nearly as intimidating around tight bends or in parking lots as its big brother, the Sierra 1500.
The 2.5-liter four-cylinder is underwhelming, as it just doesn't have enough power to really motivate a vehicle this large, especially if you plan on doing any towing or hauling. Real-world fuel economy can suffer, too. If you need more muscle for toting heavy loads like dirt bikes or towing a good size boat or camping trailer, the 3.6-liter V6 is most definitely the way to go. Besides the engine's added brawn, the six-speed automatic's Tow/Haul mode and the stability system's trailer sway control are nice extras. The transmission does have a tendency to shift to the highest gear whenever possible, however, and it can be slightly hesitant to downshift when you need a bit more acceleration than that provided by just squeezing on the gas pedal.
The Canyon won't be your best choice for off-roading. The truck's modest ground clearance combined with the low-hanging front airdam, which is meant to improve aerodynamics and therefore fuel economy at highway speeds, limits how much tough terrain it can take on. You'll certainly want to remove the airdam if you're planning on doing any serious four-wheeling.
While the interiors of GM's new trucks are a huge improvement over those in both their own ancestors and their current competition, look a little closer and you'll find the 2015 GMC Canyon is just a little nicer inside than the Colorado. Examples include the use of higher-quality materials, from soft-touch plastics and padded door panels to the genuine aluminum surround that frames the 8-inch color touchscreen used to access GMC's IntelliLink infotainment system. The available All Terrain option package adds soft leather and unique trim that makes it seem at once rugged and cushy. As in the Colorado, the extra sound-deadening materials used in the Canyon's passenger cabin result in low noise levels that add to the upmarket feel.
Gauges, controls and displays are ideally positioned for easy use. Even the IntelliLink system uses large icons like those on a smartphone that make it easier to navigate than similar touchscreen setups. Better still, the system can be controlled by voice commands, and the built-in Siri Eyes Free technology allows users of late-model iPhones (it also works to a more limited degree with Android phones) to further expand this functionality. Unfortunately, we've found that the touchscreen can sometimes be slow to respond to inputs or require a reset before it responds at all.
On a more practical front, the crew cab's rear seat offers a few additional inches of legroom compared with that of its rivals, which is convenient if you plan on transporting any adults or locking large items in the cab. The seating is pretty comfortable for two normal-size adults, though full-size crew cabs are still the way to go for three-across seating and/or superior legroom.
As in most extended-cab models, the rear jump seats in the Canyon are no place you'd want to put an adult for more than a short jaunt. Both body styles offer storage space under those rear seats for valuable tools or gear you'd rather not leave unprotected in the bed. For those shoppers who are interested in the extended cab, GMC has integrated a feature where the rear headrest doubles as an extension to the rear seat bottom, allowing for the installation of a child seat.
The Canyon's taller sides and tailgate (they're almost full-size truck high) provide superior ease of hauling bulky payload items, and the Canyon long bed model can carry standard 4-by-8 sheets of plywood with the tailgate down without any overhang. The available EZ-Lift and Lower tailgate makes opening and closing the tailgate less of a workout, too.
Most helpful consumer reviews
Features & Specs
More About This Model
The GMC Canyon compact truck went missing from showrooms two years ago, leading some fans to lament its apparent demise. Turns out there was no reason to fret, because the 2015 GMC Canyon is back in a big way.
Well, slightly bigger, anyway. The 2015 is larger to the point where it now measures up well against its chief competition, the Toyota Tacoma and Nissan Frontier. Combined with a more refined interior and the latest technology, it's now the most advanced midsize pickup you can buy.
What Is It?
There has been only one prior generation of the GMC Canyon compact pickup, and it was sold from 2004-'12. It was an outgrowth of the workmanlike GMC S-15 truck, with a new name and larger cabs intended to help it better compete with the Tacoma and Ford Ranger, which was still going strong at the time. That worked for the first year, but in 2005, all-new and significantly enlarged versions of the Toyota Tacoma and Nissan Frontier came out. Almost overnight, the Canyon felt small in comparison.
Eleven years down the road, the very same Toyota and Nissan pickups are still on dealer lots. That opens the door for the all-new 2015 GMC Canyon pickup, which enters the fray with the last decade's worth of new thinking baked into its engine, transmission and in-car electronics.
What Has Changed?
A new fully boxed frame with a 128.3-inch wheelbase supports a four-passenger extended-cab model with a 6-foot-2-inch long bed or the five-passenger crew cab model with a 5-foot-2-inch short bed. GMC has also followed the competition's lead and now offers a crew cab with the longer bed for the first time in the model's history. Meanwhile, the stubby regular cab model has been discontinued.
No one will miss the outgoing 185-horsepower 2.9-liter four-cylinder base engine. Its 2.5-liter replacement makes 200 hp and delivers 90 percent of its peak torque at just 2,000 rpm. Better still, the unloved 3.7-liter five-cylinder that made 242 hp and a similar amount of torque is stepping aside in favor of a 3.6-liter V6 that makes 305 hp and 269 lb-ft of torque.
Both engines manage these impressive gains thanks to variable valve timing and direct fuel injection, but they also benefit from the two extra cogs in the 2015 GMC Canyon's six-speed automatic transmission. This gearbox is standard in most versions of the truck except for the low end of the model range, where a six-speed manual can be found in two-wheel-drive extended-cab trim levels.
At first glance, the suspension doesn't seem that new. The front half sits on double wishbones and coil-over shocks, while the back rides atop the usual solid axle and two-stage leaf springs. But the geometry and the tuning of these bits have been significantly altered.
The old truck's hydraulic-boosted rack-and-pinion steering has been booted in favor of the efficiency and reliability of electric power steering. And the old rear drum brakes have been tossed in favor of discs all around, a change that improves the effectiveness of the standard stability control, traction control and antilock braking systems.
How Many Trim Levels Are There?
The new Canyon comes in four trim levels. The 2.5-liter four-cylinder engine is standard except for any crew cab with four-wheel drive or a long bed, in which case the 3.6-liter V6 is fitted.
The SL trim sits at the low end of the scale and starts at an affordable $21,880. It's a vinyl-floor price leader that comes in one flavor: two-wheel drive, extended cab, 2.5-liter straight-4 and a six-speed manual transmission. This is a fleet special, and its extended cab only holds two because the rear side-facing jump seats have been deleted.
Next up is the self-named Canyon, which is the work-truck version that starts at $23,575. All cab and bed combinations are available here, and the V6 is optional on those versions that don't already have it. The six-speed automatic comes standard in most of them, the lone exception being the two-wheel-drive extended cab, which comes with the manual.
The $27,520 SLE is the next rung in the ladder, and it's expected to be the most popular trim. Everything at this level gets the six-speed automatic. Standard features are comparable to the typical consumer-based pickups with a few extra niceties that include keyless entry and an 8-inch touchscreen.
At the top of the Canyon lineup is the SLT, which comes standard with 18-inch wheels, a limited-slip differential, automatic climate control, heated seats, leather upholstery and many other features that are optional on the SLE. Prices start at $30,655 and our rear-drive long-bed SLT crew cab further benefits from the optional chrome assist steps, premium Bose audio, a navigation system and the Driver Alert package that adds forward collision alert and lane departure warning. This brings the as-tested price up to $36,460.
How Does It Drive?
As in the Chevrolet Colorado, the Canyon's 3.6-liter V6 comes to life with little fanfare, and it settles into a calm idle that's accompanied by a tiny amount of mechanical engine sound. There's plenty of grunt when we roll gently onto the gas, and it pulls strongly when we press harder. The six-speed automatic is smooth and sure as it goes up through the gears, and there isn't much wind or road noise as we settle in at 70 mph.
In Edmunds testing, our V6-powered SLT crew cab test vehicle accelerated to 60 mph in 7.4 seconds, which is quicker than similarly outfitted Toyota and Nissan rivals. The Canyon also outperformed these competitors in terms of braking from that speed, needing 124 feet to come to a stop.
The steering has enough heft and on-center definition to make straight-ahead cruising a relaxing pursuit, and it turns in accurately when corners enter the mix. The response is a little slower than we'd like, but not by much. There's less overall body roll than in the last Tacoma we drove, and it leans in more gradually.
We could easily spend all day behind the wheel of one of these. It's clearly better than the Canyon of old, and it feels more grown up than the competition.
What About Comfort?
The Canyon's ride feels identical to that of the Chevrolet Colorado, which isn't much of a surprise, frankly. In both cases GM engineers have found the Goldilocks zone. The ride is neither too hard over bumps, nor too floaty and bouncy when the pavement gets wavy.
Yes, a lone occupant hauling nothing but Grade-A air might notice a little firmness, but that's par for the course when it comes to an empty pickup. Add some cargo in the bed or a light trailer and the busy shimmy from the rear wheels is history. Mostly, the Canyon shrugs off bumps and potholes with little aftertaste. The stiffness of the underlying structure clearly helps the suspension do its job more effectively.
The SLT's attractive leather bucket seats offer good support, and they certainly take the edge off coarser road inputs. If you frequently transport passengers, the crew cab is easily the preferred choice for both space and access. Adults will find the crew cab's rear seats roomy and comfortable for extended periods, while the extended cab is best left to small passengers and shorter trips.
What Is the Interior Like?
The cab of the new Canyon is simply a nice place to be. It feels much more up to date and manages to translate the feel and atmosphere of GMC's full-size Sierra 1500 to a smaller package.
The Canyon's instrument pod is more stylized than that of the Colorado, but it's no less functional. GMC's 8-inch IntelliLink screen occupies a prominent and easy-to-reach spot in the middle of the dash, and the buttons and knobs that control it are clearly separated from the climate control array that sits a respectful distance below. Convincing stainless-steel accents set the whole thing off nicely.
Though it doesn't necessarily look it from the outside, the backseat of the crew cab offers a smidge over 2 inches more legroom than a Nissan Frontier and just over 3 inches more than a Toyota Tacoma. As for the extended cab, its front-facing jump seats aren't that inviting for grown adults, but you can haul a decent amount of luggage back there.
GM truck interiors of a few years ago drove us mad with tiny lookalike buttons and oddball layouts, but the folks responsible for the newest redesigns of the Sierra, Yukon, and now the Canyon, deserve a lot of credit for reversing this trend and making their products functional and attractive.
How About Off-Road?
All 4x4 versions of the Canyon come equipped with a two-speed low-range transfer case that's electronically controlled by a switch on the dash. There's also a Z71 off-road suspension option (order code: GAT) that comes with all-terrain tires and other goodies.
Our drive didn't include the sort of off-road component we prefer, but the low-hanging front fascia makes for a poor approach angle. We know several easy trails near the office that might cause it trouble. Aerodynamics in the name of fuel economy was clearly the higher design priority.
As it sits, the new Canyon seems more suited to muddy tracks and snow than the rocky places we're picturing, places where the Tacoma's generous underbody clearance and clearance angles give it a big advantage. Still, the Canyon has good bones and a great powertrain. The aftermarket is sure to offer solutions to those who don't mind paying for them.
What About Cargo and Towing?
All V6-powered Canyons come with a 3.42-to-1 final drive ratio. There are no optional choices, so the same truck that can tow the maximum of 7,000 pounds can also achieve the rated fuel economy when empty. If only full-size tow ratings were this simple.
A 2015 Toyota Tacoma can tow 6,500 pounds. These numbers are directly comparable for a change because both manufacturers used the SAE J2807 tow rating procedure to determine the maximum tow rating. Aside from the V6 engine, the only options necessary to achieve the max are the locking rear differential and the Z82 Trailering package (hitch and integrated seven-pin wiring).
On paper there's ample power and torque, and the V6 engine comes with a Tow/Haul mode switch that has proven to be very effective in past towing tests with other six-speed-equipped GM trucks. With a light 2,000-pound ramped trailer, the Canyon performed admirably while climbing steep grades. Power was plentiful enough to require some restraint to keep from exceeding the recommended speed limit. It's also praiseworthy when descending grades for its use of engine braking to keep speeds in check.
The bed looks good, primarily because it's so deep: 2 more inches, according to GM. A long tailgate makes for a longer platform length when it's folded down, which is how 8-foot lumber can fit in the 6-foot 2-inch bed without hanging over.
What Kind of Mileage Does It Deliver?
The V6 is the engine everyone is going to want, especially when they hear the fuel economy bottom line: 21 mpg combined (18 city/26 highway) for the 4x2 version. All this from a powertrain that can tow 7,000 pounds. In the time we spent with this Canyon variant we averaged 17.6 mpg, which included several hundred miles of light towing. On our evaluation loop we achieved 21 mpg in mixed driving conditions.
The competing 4.0-liter V6 in the Tacoma is rated at 19 mpg combined (17 city/21 highway), and the Nissan Frontier V6 achieves 18 mpg combined (17 city/22 highway).
Four-cylinder ratings have not yet been announced, but we have no doubt they'll be even better. And don't forget about the 2016 model year, when an even more efficient 2.9-liter turbodiesel is set to appear.
What Are Its Closest Competitors?
The 2015 Toyota Tacoma is the most obvious target. But after 11 years on the market it's looking tired inside and the fuel economy is subpar. That said, Toyota takes off-road capability to heart, and the basic design of the truck includes many nods to the needs of those who go routinely past the point where the road grader stops.
The 2015 Nissan Frontier is on the list, too. But it's also going into its 11th year and feels perhaps even more dated than the Toyota. It's a solid truck, but it's thirstier than some of the newer full-size offerings.
Perhaps the biggest threat comes from within. Styling differences aside, the 2015 Chevrolet Colorado is pretty much the same truck, and it's generally several hundred bucks cheaper. And even though the Z71 is the top-level trim in the Chevy lineup, it is the cheaper way to get the Z71 off-road goodies if that's what you're after.
Why Should You Consider This Truck?
This Canyon has enough capability for all but the most demanding tasks of the average truck owner. It's also easier to park, gets better mileage and is more likely to fit neatly into your garage than the full-size GMC Sierra.
Why Should You Think Twice About This Truck?
If you typically tow a trailer combo that's well over 6,000 pounds, the Canyon will be approaching its limits on a regular basis. It's a similar story if you like to push your truck on difficult off-road trails on a typical weekend.
The manufacturer provided Edmunds this vehicle for the purposes of evaluation.
Used 2015 GMC Canyon Overview
The Used 2015 GMC Canyon is offered in the following submodels: Canyon Crew Cab, Canyon Extended Cab. Available styles include SLE 4dr Crew Cab LB (3.6L 6cyl 6A), SLT 4dr Crew Cab 4WD SB (3.6L 6cyl 6A), SLT 4dr Crew Cab 4WD LB (3.6L 6cyl 6A), SLT 4dr Crew Cab LB (3.6L 6cyl 6A), SLE 4dr Crew Cab 4WD SB (3.6L 6cyl 6A), SLE 4dr Crew Cab 4WD LB (3.6L 6cyl 6A), 4dr Extended Cab SB (2.5L 4cyl 6M), SLE 4dr Extended Cab 4WD SB (2.5L 4cyl 6A), 4dr Crew Cab SB (2.5L 4cyl 6A), SLE 4dr Extended Cab SB (2.5L 4cyl 6A), SLE 4dr Crew Cab SB (2.5L 4cyl 6A), 4dr Crew Cab LB (3.6L 6cyl 6A), SLT 4dr Extended Cab 4WD SB (2.5L 4cyl 6A), 4dr Extended Cab 4WD SB (2.5L 4cyl 6A), SL 4dr Extended Cab SB (2.5L 4cyl 6M), SLT 4dr Crew Cab SB (2.5L 4cyl 6A), and SLT 4dr Extended Cab SB (2.5L 4cyl 6A).
What's a good price on a Used 2015 GMC Canyon?
Save up to $300 on one of 8 Used 2015 GMC Canyon for sale at dealerships within 25 miles of Ashburn, VA with prices as low as $23,995 as of12/10/2018, based on data from dealers and consumer-driven dealer ratings ranging from5 to 5 out of 5 stars.
Price comparisons for Used 2015 GMC Canyon trim styles:
- The Used 2015 GMC Canyon SLE is priced between $23,995 and$28,798 with odometer readings between 32413 and47437 miles.
- The Used 2015 GMC Canyon SLT is priced between $28,995 and$30,591 with odometer readings between 17676 and26749 miles.
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Which used 2015 GMC Canyons are available in my area?
Shop Edmunds' car, SUV, and truck listings of over 6 million vehicles to find a cheap new, used, or certified pre-owned (CPO) 2015 GMC Canyon for sale near. There are currently 8 used and CPO 2015 Canyons listed for sale in your area, with list prices as low as $23,995 and mileage as low as 17676 miles. Simply research the type of car you're interested in and then select a used car from our massive database to find cheap prew-owned vehicles for sale near you. Once you have identified a used vehicle you're interested in, check the Carfax and Autocheck vehicle history reports, read dealer reviews, and find out what other owners paid for the Used 2015 GMC Canyon. Then select Edmunds special offers, perks, deals, and incentives to contact the dealer of your choice and save up to $300 on a used or CPO 2015 Canyon available from a dealership near you.
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Should I lease or buy a 2015 GMC Canyon?
Is it better to lease or buy a car? Ask most people and they'll probably tell you that car buying is the way to go. And from a financial perspective, it's true, provided you're willing to make higher monthly payments, pay off the loan in full and keep the car for a few years. Leasing, on the other hand, can be a less expensive option on a month-to-month basis. It's also good if you're someone who likes to drive a new car every three years or so.