Buy vs Lease
Should I Buy or Lease a Honda? Honda of Grays Harbor Can Help You Decide
Shopping for a new car is an exciting endeavor, but it can also be very stressful. We know you have many options available to you. One of the biggest decisions you’ll make along the way is whether to lease or buy your new car. If you’re feeling overwhelmed by the prospect of wading through all of your financing, model and trim options, never fear — at Honda of Grays Harbor we have a top-notch sales team that is professional and friendly. We will help you make the choice that is best for you.
When You Should Lease
Leasing is a great option for customers that are looking for lower payments and the ability to change up their ride from time to time. Leasing is a good arrangement for people who don’t want to pay for the entire value of the car, but just the cost of depreciation. Drivers should consider leasing if they drive less than 15,000 miles a year, maintain their vehicles well, and like to have a new set of wheels every few years. The decision to lease or finance depends on many factors, but most customers make the decision based on monthly payments and how long they typically drive their vehicles. In general, customers who lease prefer to drive a new car every two to three years and appreciate making lower monthly payments. For certain business customers there may also be additional tax advantages with leasing. Once the term of your lease is up, usually a few years, you drive down to your Honda dealer, turn it in, and pick up a new Honda car.
Benefits of Leasing
- Drive the vehicle at its prime
- Less cash up front less cash up front
- Lower monthly payment lower monthly payment
- A new car more often a new car more often
- Guaranteed future value guaranteed future value
- Tax advantage for business use tax advantage for business use
Enjoy End-Of-Lease Options
You don’t have to worry about resale value. If your car depreciates more than the estimated residual value in your lease contract at full term, you can turn it in at the end of your lease term. But if it’s worth more, you can buy it and keep it or resell it. A lease gives you an option.
American Honda Finance provides you with Limited Excessive Wear and Use Waiver in the amount of $1500.00. Which means Honda Finance would waive Excessive Wear and Use charges caused by one or more single events, each of which total less than $500.00 to repair up to the maximum of $1500.00 Many lease companies DO NOT provide this Waiver.
American Honda Finance also provides TOTAL LOSS PROTECTION also known as GAP. In the event your vehicle is lost, stolen or destroyed Total Loss Protection would provide you with the difference in the amount of money you could owe. If your insurance company settles with you for less than the payoff, then the Total Loss Protection would pay the difference. All you would owe is any past due payments, late charges (if any), the insurance deductible, and any amounts deducted from the insurance company for other prior damage, excessive wear and tear, excessive mileage and taxes.
When You Should Buy
If you’re looking to buy, you most likely see the purchase not just as a new set of wheels, but as an investment. When you own, the option to sell is always available to you. And when you own, you don’t have to worry about paying costly fines for mileage or accidental damage as part of the lease agreement. In addition, owning your car gives you greater flexibility. If you want to sell it and buy a new car you can do that at any time. With a car lease, terminating a contract early will most likely result in penalty fees. For example, if you are thinking about starting a family or expanding your family in the next few years, it is better to buy a car now and then sell it or trade it in for a minivan if you will end up needing the extra space.
Benefits of Purchasing
- Get the most out of your vehicle
- Ownership equity
- No restrictions on mileage
- Make changes to car’s appearance
Financing a Honda in Grays Harbor, WA
At our Olympia area Honda dealership it is easy to obtain financing whether you’re buying or leasing. Our Finance Center has a great staff that will help you set up a comfortable monthly payment plan and answer any questions you may have. In just a few minutes, you can fill out our secure Finance Application online, before you come to our Honda dealership in Grays Harbor, WA. On our website there is a convenient Finance Calculator that will give you an estimation of what you would expect to pay. Our Finance Center will do its best to make sure you get the car that you need at the most comfortable financial arrangement for you.
Please contact Honda of Grays Harbor with any questions you might have about financing your next car. If you are more comfortable talking numbers face to face, we invite you to stop by our Washington Honda dealer. We have a central location right on 1720 Simpson Ave. Our Aberdeen Honda dealer is open Monday through Saturday. We look forward to seeing you soon!