You have seen the great 2016 lineup that Honda has to offer and you are ready to make the switch from your current ride to one of the new Honda’s on the lot at Hendrick Honda Bradenton. The only problem you have now is deciding if you should buy or lease your new Honda. There are pros and cons to both scenarios, and the best choice for you will be based on your driving habits.
Ownership of the Vehicle
When you finance your vehicle, and you are done paying for it, the Honda is yours and you keep it for the life of the vehicle. This is a great option if you want to keep the next car you buy for a long time and want to eventually stop making payments, but if you are going to want to upgrade in the next few years when technology and features have advanced you may want to consider a lease. With a lease, you never own the vehicle. You drive it for a certain amount of time/miles and then return it to the dealership.
Your Driving Habits and Mileage
Mileage comes into the terms of a lease, so this is something you want to be mindful of when considering the lease option. Most leases have a certain amount of miles that you are allowed to drive on the vehicle, and also a certain amount of normal wear and tear that is allowed. If you travel in your car a lot, or have a very long commute everyday, it may be that a lease option is not the best choice for you. If you put a normal amount of miles on a vehicle each year, then you shouldn’t have anything to worry about when it comes to the mileage restrictions when leasing your next new Honda.
Selling or Returning the Vehicle
When you buy a vehicle, it is your responsibility to sell it when you are ready to get rid of it. If you are still paying on the loan, but are ready to get rid of the car, you can sell it and use the money to put towards your loan balance. This can either be a hassle or a good thing if you decide you want out of the car earlier than you had previously expected. With a lease, you may have to pay penalties for early termination. This sounds like a pain, but if you keep the vehicle until the end of the term, you just get to return it to the dealership and start your next lease. No hassle of having to try and sell the vehicle.
As you can see, there is no right or wrong answer when it comes to buying or leasing a vehicle. It has more to do with you, and what you want out of the next Honda you drive off the lot. Either way, the experts at Hendrick Honda Bradenton can help get you into the perfect Honda for you with terms that work best for you and your life!
Disclaimer: The stock image is being used for illustrative purposes only, and it is not a direct representation of the business, recipe, or activity listed. Any person depicted in the stock image is a model.