Nicholas is a partner in an accounting firm in Oakville, Ontario. He is married with two children and is very well off financially due to a high salary and annual bonus. His clients are all wealthy business people in the Oakville, and he takes them out for meals regularly and wants to impress them with his "success". It is important to him and his accounting firm that he has a nice, newer vehicle for this purpose, and Nicholas is in the market for a new car since his current vehicle is now over 3 years old. In an average year, Nicholas will put about 17,000 km on his vehicle, which he uses mostly for work; his wife owns an SUV, which the couple uses on weekends and for travelling on holidays. Nicholas would prefer not to use his own money to purchase a new vehicle, so he will either borrow the funds from his bank to buy a new car or lease a car from the dealership.
List and explain a total of three advantages
and/or disadvantages of leasing a car versus borrowing to buy a car, as they pertain to Nicholas' situation, and identify which option Nicholas should choose (leasing or borrowing to buy a car).