Leasing vs. Buying: What’s Better?

A question we often find our customers asking us at Keyes Honda is whether it is better to lease or buy their next car. Many factors can affect the decision like your lifestyle, needs and preferences, personal tastes and priorities. While there isn’t a perfect answer to this question, we hope we can provide our Los Angeles, CA area customers a quick overview of the advantages of buying and leasing.

Advantages of Leasing a Honda Vehicle

Leasing a Honda vehicle is a great choice when you want to maximize your dollar. Generally, you have lower monthly payments with a low—or no—down payment. You also have the option to drive a car with more options or better features than you might otherwise be able to choose when financing or buying a car. Another benefit of leasing is it easily allows you to transition to a new car every two or three years. If you are someone who gets a new car itch every few years, leasing may be a better option for you.

Advantages of Buying a Honda Vehicle

One of the best advantages to buying a Honda vehicle is that vehicle is yours. You can modify as you please and you can drive the vehicle as much as you like as there is no excess mileage penalty. You are able to build equity and you also have more flexibility since you can sell the car whenever you want. Over the long term, buying a car is usually more economical and allows you to keep your automotive costs as low as possible.

Both leasing and buying offer car buyers different advantages. If you are stuck between the two options, please stop by our Honda dealership and let our expert sales and finance teams help walk you through the pros and cons based on your personal situation. We regularly offer Honda specials on our new inventory, including the latest Honda cars, and on our used inventory. Our knowledgeable finance department is happy to help you when it comes to leasing or buying a Honda vehicle. We look forward to seeing you soon.