Choosing the ideal path for acquiring your next Honda vehicle is a critical decision shaped by your lifestyle needs and financial preferences. As a driver seeking the comfort and performance of a Honda, you're faced with two primary avenues: purchasing your car outright or opting for the flexibility of a lease. At Valley Hi Honda in Victorville, our dedicated team is keen on assisting you in navigating this decision to ensure that it aligns flawlessly with your personal aspirations and financial needs.
Learn more about the benefits of buying vs. leasing a vehicle as you consider your options at our Honda dealership. Whether you're in the market for an elegant Honda Accord or a versatile CR-V near Hesperia, we're geared up to provide expert guidance through your car-buying journey.
What Are the Benefits of Buying a Vehicle?
Committing to buy a new Honda means you’re paving the path toward complete ownership with every payment you make. Despite typically higher monthly installments compared to leasing, these payments are investments contributing to the permanent equity of your vehicle. Ownership also grants you the liberty to sell or exchange your used Honda at any moment, without the restrictions of a lease agreement. Yet, it’s worth considering that factors like wear and usage will affect the vehicle’s future trade-in value.
Why Should I Lease a Car?
Selecting a lease could be your best bet if you're after reduced monthly costs and love the idea of driving the latest Honda model more frequently. Although lease payments don't lead to ownership, they do cover the vehicle’s depreciation over the lease term. Steering clear of early termination penalties, leasing also nurtures adaptability by allowing you to upgrade to newer models every few years. Just make sure to be mindful of potential additional expenses from going over your leased mileage cap and any excess vehicle wear.
Can I Negotiate My Lease Terms?
Absolutely! At Valley Hi Honda, lease agreements are flexible and tailored to meet your unique needs. A successful negotiation can adjust various terms, including the initial cost of the car, anticipated end-of-lease residual value, down payment amounts, trade-in values, mileage limitations and even purchase opportunities at lease end. Just speak to our Honda financing team and we’ll be happy to walk you through the process of adjusting your lease.
How Do I Calculate My Lease Payment?
Understanding the intricacies behind lease payment calculation can make all the difference. Your monthly rate is primarily shaped by the negotiated price post rebates, trade-ins or down payments added to the selected lease duration. Our finance experts estimate what your Honda will be worth at lease-end -- its residual value -- to calculate depreciation over time. The monthly installment is derived by adding this estimated depreciation to rent charges, fees and taxes over the course of your lease term.
For custom assistance in working out your potential lease payments or any additional questions regarding whether to buy or lease a Honda near Hesperia, contact Valley Hi Honda. Our team is ready to make sure that you’re confident in your decision to lease or finance a new Honda in Victorville.
| Buying a Car | Auto Lease | |
|---|---|---|
| Ownership | Pay for complete ownership of the vehicle and have its title in your name | Pay for use of your new car and upgrade to a new model once the lease reaches its maturity date |
| Agreement Terms | Vehicle is yours until you sell it | Buy, upgrade, sell or return the vehicle |
| Mileage Limits | No mileage restrictions | Mileage restrictions are determined by lease terms |
| Down Payment | Normally comes with a higher down payment | Usually comes with lower down payments and less money upfront |
| Monthly Payments | Typically higher monthly payments | Generally lower monthly payments |
| Maintenance/Wear | Responsible for any repairs not covered in your warranty | Required to get service according to lease term recommendations |
| Customization | Customize your vehicle as you please | Customizing leased models is prohibited |