Buying vs Leasing a Car


New 2020 Honda Pilot LX FWD Auto

When you come by Braman Honda to get a new Honda, one decision you will have to make is choosing between buying vs. leasing your vehicle. While both options offer their own set of benefits, one plan may be better suited for your personal needs.

See what the difference is between leasing vs. financing a Honda so you can confidently determine which payment plan is best for you as you drive around Miami, Doral, and Hialeah.

Buying vs Leasing Cars

New 2020 Honda Accord Sedan LX 1.5T FWD

First, we want to explain what it means to buy or lease a car. When you buy a car, you are simply choosing to own the vehicle. You will put a down payment on it and make monthly payments to pay back the auto loan our finance team will be able to get for you. Then, once it is fully paid off, you are the outright owner of the car.

When you lease a Honda, you are essentially renting it for the duration of your lease. Usually lasting a few years, you will make monthly lease payments that cover the depreciation of the vehicle while you are driving it. Then, when your lease is up, you bring your car back to our dealership and either lease or buy another car.

What Are the Advantages of Buying a Car?

When you buy a car, you will have more freedom to do what you want with it. You can put as many miles as you would like on it and even customize the exterior or interior with accessories you’d like to have.

Once you pay off the loan, you will own your car completely, and you’ll no longer have to make monthly payments. Since Honda vehicles are built to last, it will still have plenty of miles to drive so you can enjoy long after you pay off your loan.

What Are the Benefits of Leasing Your Honda?

One main difference between buying vs. leasing a vehicle is the payments you will have to make. Since you are only paying for the value of the car while driving it with your lease, you end up with a lower monthly payment than if you bought the car.A backlit Honda Ridgeline

When leasing a car, you also have more short-term flexibility. Since you are only committing to driving it for a few years, you will have more options when your lease is up. Life can change within just a couple of years, and you may need a different type of vehicle to reflect those changes. For example, after your Honda lease comes to an end, you may need something larger like the Pilot to accommodate more passengers.

If you have enjoyed the Honda you were driving, you can jump into a newer model. Upgrading to a more recent model year lets you enjoy features and advanced technologies.

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Should I Lease or Buy My Next Car? 

Whether you prefer the flexibility of a lease or the freedom that comes with buying a car, you can come chat with our finance team and create a payment plan that personally fits best for you as you cruise around Miami, Doral, Hialeah.

Stop in today to get a look at our inventory of Honda models here at Braman Honda. You can also get a jump start on the finance process by filling out our application to get pre-approved before you stop by our dealership.