Leasing vs. Financing Your New Honda in Carson City
It is easy to decide that a new Honda is what your drives in Reno need. What might be a little trickier is deciding whether you want to lease or take out a loan. Let's dive into the advantages and disadvantages of both of these options.
Benefits of a Loan
The first thing to be aware of with a loan is that it is typically more expensive than a lease, at least on a monthly basis. That said, you will own the vehicle outright once you have made your final payment, making your new Honda an investment.
A loan will not have any mileage restrictions, and it will also not limit the ways you can customize your vehicle. Gardnerville families are often attracted to the loan option because there are no wear-and-tear charges, giving them one less thing to worry about while driving around Minden and beyond.
Benefits of a Lease
A loan is not the right fit for every driver, which is where leasing comes into play. Usually, both the monthly and down payments are lower when you choose this route. Since you are driving a car around South Lake Tahoe while it is fresh and new, you do not typically have too many repair costs to worry about. You also can take advantage of the car's warranty in many cases, saving you further money.
When your lease is up, you can simply turn in your Honda and move on to your next one. Alternatively, you can consider buying the vehicle you have been leasing, often at a lower price.
Explore Your Options at Michael Hohl Honda
The finance team is here to make bringing a new Honda home to Sparks, as painless as possible. We can answer your questions and help you determine if leasing or taking out a loan is the right fit for your budget and driving needs. Explore the lease specials we have available at Michael Hohl Subaru.
