No other financial institution will view a leased car as an asset, but the OSAP office does. We know of a case where the student leased a car because it was required for a summer job. There was no extra family car to be loaned. A rental car would have cost as much as the lease.

If you go to a bank and they ask for a list of assets, a car would be considered a liability, not an asset. Please check your particular situation before proceeding.