Leasing vs. buying is one of the biggest decisions you’ll make during the car-buying journey in Miami, Doral, and Hialeah, FL. It’s second only to actually choosing your next car.
At Braman Honda, we know both financial routes have their perks. That’s why our finance center team has created this guide, so you can see which one is better suited to your lifestyle.
Once you find the vehicle you want to drive home, you’ll need to finance your ride. Leasing and buying are two different ways to do just that.
If you choose to buy the car, you’ll likely need to take out a loan. How does that work? Once you apply for financing, you’ll be able to examine offers from banks and lenders and choose one that works for you. After you make a down payment, you’ll make monthly payments until the full value of the vehicle and any accrued interest are paid in full.
Leasing is different. It’s like renting the car for an extended period of time. You’ll only pay for the value of the vehicle while you’re using it. Honda lease deals tend to be based on the number of miles you drive in a year. Plus, you may also have the option to buy the vehicle at the end of the lease.
Leasing is a great financial option for many drivers. It comes with unique perks that may be a perfect fit for your lifestyle. The advantages could include:
If you’re a driver who always likes to have the most up-to-date technologies at your fingertips, leasing a new Honda could be the best option for you. The typical lease lasts from one to three years. Once that term ends, all you’ll need to do is return the vehicle to our dealership and we’ll help put you behind the wheel of the latest model year.
New Honda models also come with a manufacturer’s warranty. It may help cover the cost of some service repairs, so you can keep your vehicle performing at its best for the entirety of the lease.
Buying is the ideal long-term solution. If you’re looking to keep your new car by your side for its lifetime, buying is the way to go. You’ll be able to enjoy some of the following benefits:
When you buy a Honda, the vehicle is yours to keep. That means, you’ll be able to clock as many miles as you need to, so go ahead—accept that dream job with the lengthy commute. You can also make all the customizations you want, so you can make the vehicle uniquely yours. We have some unique tools that will help you see if buying is right for you, including…
Buying is also a great investment opportunity. When you’re ready to get behind the wheel of a new car, you can sell your vehicle to our dealership. We’ll give you its Kelly Blue Book® Value as trade-in credit. Taking good care of your car will help boost its value so you can make the most out of your purchase.
When it comes to buying vs. leasing a new Honda near Miami, Doral, or Hialeah, Florida, the choice you make all depends on your personal needs. If you’re looking for the possibility of having lower monthly payments and making easy upgrades, leasing is the way to go. If you’re ready to make a long-term commitment, you should buy your next vehicle.
Contact our team at Braman Honda to learn more!