You're more likely to buy
- When you lease a car, you are typically capped at 15,000 miles a year. Additional mileage can cost you up to 35 cents per mile. And that can really add up.
- If you like to personalize a car, this investment can be lost on a leased car.
- If you like the idea of ownership, you are less likely to be happy with the lease option.
- If you like the feeling of accomplishment that paying off a large purchase brings and should consider that when you lease a car, the payment ends only when you return the car.
- If the car you presently own is over 3 years old you are more likely a buyer. While not always true, you can usually drive for less if you're willing to buy and drive for at least 3 years.
- If you don't mind doing your own car repairs, you probably don't mind driving a car after the warranty expires.
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You're more likely to lease
- Lease arrangements usually involve a 15,000 miles-per-year cap and charge for extra miles. If you drive very little, you may be a candidate for a luxury lease.
- When you negotiate a 24 or 36-month lease, you can be sure you'll always be driving a new vehicle.
- Although you need to maintain and repair your leased vehicle just as you would an owned vehicle, because you typically lease for 2 to 3 years, the car is normally under warranty.
- Many people prefer to drive a vehicle that is priced above their means and leasing provides the solution.
- If you don't mind not owning the car, you are free to enjoy the benefits of leasing like low monthly payments and a low down payment.
- If you own the company, and you use your car for business, check with your tax advisor. You may be able to deduct your auto expenses, including your monthly lease payment. And if the company you work for gives you a monthly car allowance, you may want to lease since you'll be able to drive a nicer car for a lower monthly payment.
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Should I buy or lease a car?
If you've been thinking about buying or leasing your car in Port Arthur, Texas, we are here to help you. Different used car dealerships will have different answers, but the true answer depends on you. Start by applying for financing and asking our team about the benefits of buying vs. leasing. You can sift through our selection of Honda models for sale online now and see what strikes your eye. Look at our lease specials and new car specials and see if we have anything that speaks to you, then ask us about it!
Finding the right balance between buying vs. leasing can help you decide what's best for you. If you're the type of person who is always looking to upgrade and you hate being responsible for large maintenance requests, then leasing is probably the way to go.
If you're looking to pass on your vehicle later in life, then you'll probably want to buy your car outright or finance it through our Honda financial services.
Can you buy after leasing a car?
You 100% can buy a vehicle after leasing a car. Most people have an option to purchase the vehicle at the end of their lease for a specific percentage. When you're driving a vehicle that is financed through a lease, you're paying for the depreciation of the vehicle. When you choose to purchase, you're going to pay for what the vehicle is currently worth according to NADA.
What are the advantages of leasing a car over buying?
There are plenty of benefits of leasing a Honda over buying. For one thing, you'll always be behind the wheel of a brand-new car. If you enjoy driving a reliable model, then leasing is more favorable compared to buying used cars for sale.
Leasing also requires less money down, and the monthly payments are often significantly lower.
If your leased vehicle ends up having a large mechanical issue down the road, you can bring it in without footing the bill because it's not technically yours.
Schedule a Finance Department in Port Arthur, Texas
So what's the verdict? When you lease vs. buy, you're saving money. However, if you're still torn between the options, there are Honda dealers, like ours, that will help you. we invite you to contact us. Let the experts in our finance department walk you through the pros and cons of buying vs. leasing a vehicle.
We can talk about your financial situation, your credit, your driving habits, and more. Together we can discover which purchase option is the right one for your situation at our Honda dealership.
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