New Car Lease vs Buy
Why Lease a New Car?
If you like to drive newer, safer, more reliable cars or trucks, not pay a large down payment every 3-4 years, and also do not drive an exorbitant amount yearly, then a new car lease may be better for you. Leasing is ideal for those who would prefer to avert the hassle of buying and selling each time they want to drive a new car or truck.
Why Should You Buy a New Car?
Contrarily, if you want long term automotive relationships with a higher sense of commitment and ownership, then buying could be what’s ideal for you. Car-buying is typically best for consumers who will not mind driving the same car for over five years or even until it is no longer suitable for the highway.
Buy vs Lease: Which Is Right for You?
Knowing the pros, cons, and overall benefits of leasing vs buying a car is critical. Be sure to contemplate vehicle ownership, monthly payments, repair costs, and potential savings when considering the best new car financing type for you.
Leasing vs Buying: Ownership
When it comes to vehicle financing, new car or truck ownership surely comes with many advantages, most associated with complete ownership of the car or truck. You may not be aware, however, there are also a few great advantages to leasing, as well. It’s imperative to consider all financial aspects including interest rate, down payment, monthly payments, term length, buyout payments, depreciation, and maintenance & repair costs, before making a decision. A precise inspection of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car.
Vehicle lease payments are often times less expensive than auto loan and car financing payments as the standard lease contract is pretty much renting with the option to purchase near the end of your lease term. Just consider when leasing that you’ll need a nice credit score, and will be asked to carry comprehensive and collision insurance, though the same can be said for the better rate auto loans. Though it may likely add to your monthly payments, it’s also wise to get a model with the features you want or need, as personal satisfaction is often priceless.
Maintenance & Repair
Auto leasing often includes regular vehicle maintenance & repair. It is important to keep this in mind when calculating monthly costs of leasing vs ownership. Regardless of which make and model you buy, mechanic bills are an uncertain cost that can quickly add up. And for those who aren’t certified mechanics with a hydraulic jack and full toolset in the garage, leasing might be the best option for peace of mind.
Investment vs Savings
In general, a new vehicle lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning absolute ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For maximum investment on a financed/purchased vehicle, you can pay it off quickly and also avoid excessive wear and mileage.
|Pre-Owned Vehicles||Not Available||Available|
|Vehicle Customization||Not Available||Available|
|Poor Credit Financing||Not Available||Available|
|Ownership||No Ownership||Pride of Ownership|
|Down Payment||Smaller Down Payment||Larger Down Payment|
|Monthly Payment||Smaller Monthly Payments||Larger Monthly Payments|
|Savings/Investment||Short Term Savings||Long Term Investment|
|Finance Term||Approx. 2-4 Years||Approx. 3-6 Years|
|Maintenance & Repair Costs||Typically Included||Not Included|
Honda Lease and Finance Offers Near Houston TX
Sterling McCall Honda knows that choosing the right Honda car and financing option is never easy. Our team of experienced Honda lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location near Houston, TX. We look forward to serving you.
Recently went to Sterling McCall Honda to do my oil change and I told them that I need it to go to work so I was impressed how quickly they done the job. Mr Steve was very helpful and Sara Davis guide me where I need it to be. They have nice, large,and comfortable waiting room where you can sit mean while they take care of you vehicle. So was in and out in no time at all Amazing part, the car was clean and wash and I got a "free Cappuccino" so yes is worth to go there
Customer: lisa wells
I was very pleased with my experience at Sterling McCall....
I was very pleased with my experience at Sterling McCall. Gus and the team was a pleasure to do business with. Will do business with then again.
Thank you Alfredo for helping my granddaughter find the car of her dreams. She is beyond satisfied. You went above and beyond the call of duty. The whole staff at Sterling McCall were very friendly and very understanding. I was so glad when the car she chose was still there. Again, thank you for your excellent service!
Customer: Irma Reina
Thanks for working with me. I really appreciate your...
Thanks for working with me. I really appreciate your response and actions to mitigate the issue. would definitely love to do business again and send more business.
We had service from Julie, from Wilder and Juan as well as Amyn and all of them were great. We really appreciate all of the support and help we were given. The whole time we were there they made sure to sit with us and explain everything about the paperwork. We were treated like family and we really appreciate all the smiles and kindness. Thank you! We will tell everyone we know to come here. I know they would not be disappointed!
Customer: Iris Pena