Leasing vs. Buying a New Vehicle in Olympia, WA
When you’re looking to get a new vehicle, you have the option to buy the vehicle or lease the vehicle. Both avenues have pros and cons, and the final decision depends on your needs and wants when it comes to a Honda vehicle. Here at Capitol City Honda, we’re proud of the options we give you for financing. We’ll work with you to talk through the option that is best for you and your family. Here are some questions to consider:
How much do I drive?
Most lease agreements have mileage limits. If you commute a lot or take long road trips in your primary car or truck, leasing might not be the best option for you. On the other hand, if you have a short commute and don’t drive much on the weekends, you should have no problem keeping your vehicle under the mileage limits, and leasing could be a great option.
How much money do I have to spend?
Leasing is a great option if you want a new car for a lower monthly payment. Also, lease agreements rarely require a lot of money down. Since you only pay on the depreciation of the vehicle, your payments aren’t as high as if you are paying to own the car someday. Of course, when it’s time to give the car up, you won’t get any profit or trade-in value from the vehicle like you would if you bought it.
Do you want to be car payment free one day?
This won’t be an option if you lease. At the end of your lease agreement, you may have the option to buy the car, but you will be required to return it. If you get financed and buy a vehicle, you will one day own your car. If you take good care of it, you could drive many years payment free!
How do you expect your life to change?
If you don’t know where you might be three years down the road, don’t lease. There can be pricey fees when you terminate a lease agreement early. Before considering a lease, you need to be completely sure that the terms of the lease agreement will work for you for the entire duration.
Come talk to the financial specialists at Capitol City Honda in Olympia about your options. If you’re ready to get started with financing, fill out our online application form.