After you have selected the new Honda model that will best suit your needs in the Hammond area, you’ll be faced with the question, “Should I buy or lease?” Deciding between a Honda lease vs. a finance contract depends on what you want and how much you can afford. This leasing vs. buying guide from the experts in the Finance Center at Mike Whatley Honda will help you choose the option that is the right fit with your lifestyle and your budget.
Should you lease or buy? When choosing between a Honda lease vs. finance contract, Hammond drivers should take a moment to learn about what each strategy is, and what their benefits are. When you finance, you take a loan covering the full value of the vehicle with the intent of ownership. Let’s take a look at some of the unique benefits of financing:
So what are the differences between a Honda lease vs. a finance contract? When you lease, you get access to a vehicle for several years, and your loan goes to cover the estimated depreciation that will occur over your lease term. While you don’t get to build equity like you do when you finance, leasing is much easier on your monthly budget. Benefits of leasing include:
Should you buy or lease? It is important to weigh the benefits of each and determine which is the better fit for your needs. The finance team at Mike Whatley Honda is happy to help you explore your leasing vs. buying options, so you can make an informed decision. Make sure to check out our new vehicle specials and current offers and incentives to find some of the best lease and financing deals in the Brookhaven area. Should you have further questions, please don’t hesitate to reach out to us. While you’re here, take a moment to read about how to sell your car to a dealership. Also, be sure to explore our guide on lease-end return options!
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