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.
Darryl Brewer helped me today with oil change and tire...
Darryl Brewer helped me today with oil change and tire rotation. So pleased with his customer service. Thank you so much and will definitely come back.
Came here today and spoke to Julie Barnachea about a vehicle that I saw online. Julie was absolutely lovely and worked with my budget to get the best price! She was very friendly and not pushy like some other salespeople that I’ve dealt with in the past. She made me feel comfortable in making my decision to purchase from Sterling McCall Honda.
Customer: Kelsey Williams
They went above and beyond when we were looking for a gently used van. We ended up not buying from them only because we found exactly what we needed at another dealership. We took our new to us vehicle to be serviced by them and I cannot say enough good things about them. Darrell in the service department has been phenomenal! We will do all maintenance and repairs with them.
Customer: Robyn Farmer
A very good place to by your first car or just get a car period. Sells people are nice and they will work with you on a reasonable price with your finances. Sales person (Ms. Julie) Thank you so much for helping us out and finance rep (Mr. Wilmer) thank you as well.
Jeffery Rogers took care of my car. I went in for an oil change service and he was very welcoming and friendly. I recently moved from WI and am searching for a great Honda Dealer to take my car in regularly for services. I can confidently say that I was impressed with the level of professionalism and the extra service I got with getting my car vacuumed. They also accepted my car care plus which many dealers out there do not accept due to billing issues. I highly recommend this dealer, you will not be disappointed.
Customer: Gina Santibanez