Do you Arlington drivers to drive a new car every few years, or do you get emotionally attached to the vehicles you own? Is long-term savings more important than short-term savings? Questions like these will help you figure out whether buying or leasing a new Honda is best for you. Be sure to consider the following questions when deciding between buying and leasing a new Honda.
How Often Do You Usually Purchase a New Car?
If you usually buy a new car every two or three years, you might be able to save some money and hassle by leasing your next car instead. When you lease a new Honda, you sign the lease, make low monthly payments, and trade it back in at the end of the contract. At that point, you will have the flexibility to decide either to purchase the car or lease a different vehicle.
Do You Prefer to Make a Down Payment?
By making a sizeable down payment for a new Honda, you can reduce the amount of money you need to borrow. If this is appealing to you, buying a new Honda will save you money in the long run. If you would rather not make a down payment, leasing a new Honda might be the better choice, as a lease on a new Honda doesn’t require a sizeable initial payment.
Which is More Important: Short- or Long-Term Savings?
Are you more concerned with maximizing your monthly cash flow, or minimizing the amount you pay for a Honda in the long run? If short-term savings are more important, a lease is your best bet, as leasing a vehicle is less expensive on a month-by-month basis. If you prefer long-term savings, it’s better to buy a new Honda, maintain it regularly, and drive it for as long as possible rather than replacing it.
For more help in understanding the main benefits and drawbacks of leasing and buying a new vehicle, call Brown’s Arlington Honda at (703) 522-8808. We offer great deals on financing and leasing a new Honda, and our courteous team members are happy to help you choose the option that’s right for you.