Should I Buy or Lease?

Finance Paperwork with Glasses
After you have selected the new Honda model that will best suit your needs in the Bogue Chitto area, you’ll be faced with the question, “Should I buy or lease?” Deciding which is right for you depends on what you want and how much you can afford. This lease 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.

Benefits of Buying

  • No Mileage Restrictions: A car lease agreement includes strict mileage limits, so if you plan on driving a lot around Wesson, buying is the better option.
  • Financing Options: Applying for financing is often a simpler process than leasing, even for those who have a low credit score. You will also have the ability to refinance your loan to reduce your interest rate and monthly payments over time.
  • Less Cost Over Time: While you will pay more upfront when you purchase a car, the vehicle will become less expensive to own the longer you have it.
  • Total Ownership: When you buy a car, you can upgrade, modify, or customize it however you wish, and you are free to sell your car whenever you like.

Benefits of Leasing

  • Lower Payments: A car lease typically comes with a lower down payment or no down payment at all, and the ongoing monthly payments will be more affordable than what’s required with a vehicle purchase.
  • Less Sales Tax: In most states, you will not have to pay any tax upfront when you lease a car.
  • Warranty Coverage: All scheduled vehicle maintenance will be covered under your lease agreement. As long as you stay within the required mileage limit, you won’t have any out-of-pocket expenses for routine maintenance services.
  • Upgrade Option: At the end of your lease term, you have the option to upgrade to a brand new model with all of the latest bells and whistles. All you have to do is stop by our dealership near McComb, pay any remaining fees, and drive away in a vehicle equipped with the most up-to-date amenities and tech features.

Learn More About Your Leasing & Financing Options at Mike Whatley Honda

“Should I buy or lease?” It is important to weigh the benefits of each and determine which is the better fit with your needs. The finance team at Mike Whatley Honda is happy to help you explore your lease 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 any 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.

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115 U.S. 51 • Brookhaven, MS 39601

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Mike Whatley Honda 31.580987, -90.4587469.