Leasing vs. Buying a Honda in Cape May Court House, New Jersey
Deciding whether you'll be leasing or buying your next new car is one of the toughest decisions that car buyers face today. With leasing, you can enjoy lower monthly car payments than you typically would when buying a car. However, if you're diligent about vehicle maintenance and don't mind spending a little bit of money on wear items the allure of owning a car outright is very tempting to the savvy shopper. With the average monthly payment on a new car upwards of $500, we don't blame you for wanting to keep your beloved Honda as long as you can.
Benefits of Leasing a Honda
- You can upgrade to the newest model in an average of 2-4 years. Leasing allows vehicle owners to remain up-to-date with the latest entertainment and safety technology.
- Lease payments are typically lower than loan payments since you're only paying for a portion of the car. Longer term leases may offer even lower monthly payments.
- The car will remain covered under the standard manufacturer's warranty for all or most of the lease. Driving a vehicle covered under warranty eliminates the need to pay out of pocket for potentially costly vehicle repairs.
- Trading in a car at the end of its lease term is easier than trying to sell a car privately. Also, there is the option to buy the car at the end of the lease if desired.
Benefits of Buying a Honda
- Quite possibly the biggest deciding factor for many who choose to buy a new car is the mileage restrictions on leases. Lease offers typically include a 12,000-mile per year allotment, and driving additional miles can be extremely costly.
- When you buy a car, you're free to customize it to your heart's content without worrying about incurring and hidden fees. Whether it's a new set of wheels, window tints, or performance modifications there are zero restrictions on what you can and can't do.
- The potential to drive a car with no monthly payment is very enticing to many vehicle owners. After you've paid off the car loan, there is a potential to save some serious cash on a monthly basis.
- There are no wear and tear fees to worry about when you buy a car like you would when leasing. Not being charged for vehicle damage is especially beneficial if a car is going to be driven in extreme conditions or regularly carries around rambunctious kids.
If you have any questions about Honda financing or leasing, please don't hesitate to contact our finance center. We look forward to helping your turn your dreams of owing a Honda into a reality!