Buying and leasing: Which is right for you?
There are many things to consider when you are in the market for a new car, but one that often falls through the cracks until the last minute is whether to buy or lease your new Honda model. What is the difference, and which makes the most sense for you? Here we will lay out some of the reasons why a lease may be better, while offering the buying side as well. When you are ready to test drive our models and discuss financing, pay us a visit at Hoffman Honda and inquire about our Honda lease deals for Connecticut drivers.
We are located at 40 Albany Turnpike in West Simsbury and ready to explain the terminology, and get your into the Honda lease or loan that best fits you.
- Lease a new Honda if you enjoy the freedom of trading your car for a new model every few years.
- When leasing, your credit score may be improved, due to the fact that a lease lowers your debt to income ratio, and paying on time reflects positively.
- Driving off the lot does not depreciate the value of your car once it is time to trade it in, since you are essentially just renting the model out. When the lease is up, you get a new car, it's that simple.
- Your payments are lower each month which means more money in your pocket for outings and road trips, and up to 40% less spent on payments.
- Rather than pay tax on the full price of the vehicle, you are paying tax only on the amount you pay every month.
- Buy a new Honda if you like the thought of having the freedom from monthly payments once your loan is paid off.
- Buying a car means the car is yours, and there are no mileage restrictions like you have with a leased vehicle.
- There are no fees associated with your car if you didn't maintain it properly. With a lease, if the car is turned in at the end of the lease, there could be an additional cost to you. Just one more reason to maintain your vehicle, leased or bought.
- You can customize a car that you have bought, from something small like a bumper sticker to a larger customization like racing stripes or a spoiler. A leased vehicle is basically just a rental and isn't allowed to be subjected to a custom paint job or body kit.
Need more clarification, or feel you are ready to jump into a new car? Stop by and take a test drive, and ask us questions. We look forward to providing you with top notch customer service.