Here at Avery Greene Honda, we like our customers to make the most informed decisions possible when it comes to financing a vehicle, especially because it’s such a large and long-term decision. Therefore, we’d like to take a moment to explain the differences between buying and leasing a vehicle. Most of all, we’d like to dispel the nasty idea that one of these methods is “better” than the other. Instead, we’d just like to show you how to tell which way is the right way for you!
First, let’s look at the benefits of buying a new car. Obviously, the biggest benefit of actually purchasing a new vehicle is ownership. Once you pay a new vehicle off, it’s completely yours. Therefore, buying a car can provide a more long-term feeling of value and worth, and for some people, makes all the years of car payments that much more worth it. Plus, when you buy a car, you can get special offers like no money down and low interest or financing rates. The same rates might not always be available when you want to lease.
Purchasing a car is also great for drivers who plan to take long trips in their vehicles. Lease agreements typically limit a vehicle’s annual mileage, and a driver can be required to pay for additional mileage at the end of the agreement. Buying, on the other hand, allows drivers complete freedom when it comes to mileage.
However, buying might not be the best option for you if you’re looking for more of a short-term driving solution. If you only need a certain vehicle for a year or two, or if you are the kind of person who simply loves getting a new car every couple years, leasing is definitely the way to go for you. After a couple years or whenever your lease runs out, you can simply turn it in and get a new model—starting the whole process over again.
Drivers who lease can also be required to pay less for a car than if they chose to purchase a vehicle. With leases, drivers essentially pay for the difference between a car’s MSRP and its expected value at the end of the lease. Therefore, monthly and down payments can be far less with a lease, making it an ideal option for some drivers.
As we said earlier, there’s no correct answer to the question, “Is leasing or buying a car a better option?” However, there usually is an answer to the question, “Is leasing or buying a car a better option for me?” Based on your circumstances and driving needs, you can make the most informed choice when picking out your next new vehicle!
For more information, come see us at Avery Greene Honda for friendly assistance and advice! Our sales and finance teams can work with you to find the right car and payment options to fit your budget and lifestyle. You can also check out our great selection of new Hondas and used cars to learn more about the options we have available. See something you like? Give us a call today or stop by our dealership in Vallejo, CA. Avery Greene Honda is proud to serve Napa, American Canyon, Fairfield and surrounding Bay-Area cities!