New Car Lease vs Buy

New Car Leasing vs Buying

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.

leasing vs buying a new car benefits

Monthly Payments

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.

why leasing a car is smart

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.

is leasing better than buying

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.

LeaseBuy
New VehiclesAvailableAvailable
Pre-Owned VehiclesNot AvailableAvailable
Vehicle CustomizationNot AvailableAvailable
Poor Credit FinancingNot AvailableAvailable
APR %Credit-BasedCredit-Based
OwnershipNo OwnershipPride of Ownership
Down PaymentSmaller Down PaymentLarger Down Payment
Monthly PaymentSmaller Monthly PaymentsLarger Monthly Payments
Savings/InvestmentShort Term SavingsLong Term Investment
Finance TermApprox. 2-4 YearsApprox. 3-6 Years
Maintenance & Repair CostsTypically IncludedNot 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.


Great service sales and finance

The sales Julie and the finance department was great easy , fast no hide fees I like they have bilingual people in finance department is a plus specially in Kingwood Area thank you so much for all the help

Customer: MARIBEL SERRANO
Date: 2020-10-15

Steve and his team delivered exceptional customer service. I shared a close and personal story with Steve that happened to my son over the weekend and how he had to be rushed to the hospital for a rare infection. Steve was very emphatic and was a great listener. I came in for a simple oil change. When my car was finished, Steve informed the oil change was complimentary. Thank you so much to this dealership for not only the outstanding staff they employ but the level of customer service is the standard that should be at all Honda dealerships!! Jeff

Customer: Jeff S
Date: 2020-10-09

Sterling McCall Honda is where I got my first car. They were excellent. The sales rep’ and the used car manager helped me by giving me a price that I’d been long searching for. Honestly, it was a much needed break in comparison to other dealers and private sales. A true blessing!

Customer: Hunter Hartis
Date: 2020-10-07

This is definitely not my first experience buying a car/SUV at Sterling McCall. Because of Sterling McCall's helpfulness and professionalism, I keep coming back, whether the vehicle is for me, my husband, or my children. All of us are "Sterling McCall" drivers. Should I find that there is an additional car/SUV in the future for my family and/or friends, Sterling McCall will first be considered. I cannot say enough positive things about my family's, my friends', and my pleasant buying experiences, and it's all due to Sterling McCall's superior staff.

Customer: Amelia Reagan Wright
Date: 2020-10-02

Service has always been good

New and very nice facility. Quick and well explained service. Easy check in and quick check out and very good at social distancing. Good dealer

Customer: Cheryl L
Date: 2020-09-29