Should I Lease My Next Car?
When it comes to purchasing a vehicle, you have three different options for paying for it – paying for it in full with cash or a check, getting a loan for the vehicle through a bank or credit union, or leasing the vehicle. As we discussed in our last blog, leasing can be a great option for many people who are in the market for a vehicle. When you lease a vehicle, you make a small down payment (usually less than 20% of the value of the vehicle), and make payments for a period of time (usually 24 or 36 months) and then return the vehicle. If you’re thinking about leasing your next Honda, the staff here at Freedom Honda can help you decide if it’s the right decision for you!
Leasing isn’t right for everyone, but for some people, it’s perfect. Here are some great scenarios for leasing:
You have a short commute. One of our favorite things about Colorado Springs being a smaller city is our shorter commutes! For those of you that have a shorter commute, leasing can be a great option. When you lease a vehicle, you are limited to the number of miles you can drive each year (usually 10,000 to 12,000). If you drive less than this, leasing can be a great way to minimize your automotive expenses.
You want a small monthly payment. Not wanting a huge monthly payment? One of the biggest advantages of leasing a new Honda is having a low monthly payment. Because you will not be paying for the entire price of the vehicle, your monthly payments will be lower. Combine this savings with a low down payment, and you could save thousands of dollars over buying.
You upgrade cars frequently. How often do you get a new car? While we know plenty of people who own their Honda for a decade or longer, there are many who want to drive Honda’s latest and greatest vehicles. If that’s you, leasing could be perfect. Leasing allows you to get a new vehicle every 2 to 3 years without the hassle of selling your current vehicle. When your lease is up, you simply return your current vehicle to a dealership and drive away in your new Honda! The best news? If you truly love the Honda you lease, you have the option to buy it at the end of your lease!
Still unsure if leasing is the best choice for you? No problem! The friendly staff here at Freedom Honda is here to help you make the best decision about your vehicle needs and service. Stop by today and take a test drive or shoot us an email! We always have great lease specials happening and you could get behind the wheel of a new Honda for a low monthly payment$?