Buying Vs. Leasing
Buy Vs. Lease
Decide What’s Best For You
When it comes to buying or leasing a car the options can be confusing. To help you make an informed decision we have provided the information below. Be sure to visit the Finance Center to learn about financing options for your new Honda and check out the specials page to see the different lease offers. We hope you find it informative and useful.
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Buying
You own the vehicle and keep it as long as you want.
Leasing
You don’t own the vehicle. You get to use it for a finite period of time, and usually for a limited number of miles.
Buying
If you are financing, there can be a down payment ranging from zero to several thousand dollars plus other fees.
Leasing
Down payments can range from zero to several thousand dollars, plus other fees.
Buying
Can be higher than lease payments, but does allow you to gain equity in the vehicle.
Leasing
Monthly payments can be lower with a lease payment, because the bulk of payments are covering depreciation.
Buying
If you are financing, there can be a down payment ranging from zero to several thousand dollars plus other fees.
Leasing
Down payments can range from zero to several thousand dollars, plus other fees.
Buying
There are no mileage limitations, keeping in mind the higher the mileage, the less value it will retain.
Leasing
Leases have language that limits the number of miles allowed during the lease term. Going over this number will result in additional fees.
Buying
When you are ready to move on, once payments are finished you can either sell your car or trade it in on another, again depending on if there is a balance owed.
Leasing
When your lease is up, you turn the car in, you walk away, start over with another vehicle, or if you like your vehicle you have the option of financing it.