Leasing vs. Buying a New Car in Jefferson City, MO
Should you buy or lease your new Honda vehicle? There’s no right answer to this question, as it simply all depends on what works better for you and your financial situation. There is a list of benefits to both buying and leasing and this leasing vs. buying overview guide put together by the team at Honda of Jefferson City will explore a handful of benefits to both options. For the latest Honda models, view our new inventory in Jefferson City, MO. If you have any questions, please contact us online or call us by phone at (573) 893-7676 and we’ll be more than happy to help you.
How Leasing Works
When you lease a vehicle, you don’t pay for the full price of the car or take out a loan. You simply make a small down payment and then continuously make monthly payments for however long the term of your lease is. You return the car when your lease expires, so essentially you do not own a leased vehicle.
Pros of Leasing
As previously mentioned, there are many advantages that come along with leasing a vehicle. Check them out below!
Lower Monthly Payments
Perhaps the most appealing aspect of leasing, low monthly payments are made during the duration of your car lease. In addition, you’ll only be making payments based on the depreciation during the time of your lease, rather than the entire overall value of the vehicle.
Driving in a New Car
Who doesn’t want to cruise around town in the latest and greatest Honda vehicle? When you lease, your vehicle will always be equipped with the latest interior refinements and technologies! Automotive technologies are always evolving, so after a few years, or whenever your lease is up, get a brand new vehicle with even more to love.
Enjoy a hassle-free experience when you lease with us at Honda of Jefferson City in Jefferson City, MO. Selling or trading in your leased vehicle has never been easier!
Have peace of mind while driving behind the wheel of a leased Honda vehicle thanks to great warranty protection.
Pros of Buying
As with leasing, buying a new vehicle upfront brings along several advantages as well. Explore them below.
One thing you don’t have to worry about when it comes to financing is mileage restrictions. Drivers who lease have the extra burden of enduring pesky mileage restrictions as outlined in their lease. Avoid this completely when you buy your vehicle.
When you finance, your car will be 100-percent yours after you pay off your auto loan. Feel proud driving around in a car you own.
When you buy a car, you are free to customize and deck it out however you wish. When you are leasing a vehicle, you do not have the freedom to do this, as you do not own the vehicle.
No Payments When Loan Is Paid Off
When you finance a vehicle, your payments stop when you’ve paid your loan off.