Lease vs Buy A Honda in Beaumont Texas
Factors to Consider While Deciding Whether to Lease or Buy a Honda
Shopping for a new car is exciting, and we know that it’s a big financial decision in your life. But buying is not just the only option to drive your new favorite car, if you consider leasing it. While leasing can be expensive on the long run, it might be a great choice for you depending on your preferences.
There are few important factors to consider while deciding whether to lease or buy a car from Mike Smith Honda.
Comparing Leasing VS. Buying From Mike Smith Honda:
Mike Smith Honda has some incredible car leasing deals and specials on a variety of top-selling Honda models. We know that it can be daunting for customers like you to compare, learn, and decide. That’s why we have a list of side-to-side comparisons with details on benefits, differences, and specials which may help you to make a wise decision.
At a Glance: Buying vs. Leasing
| Buying | Leasing |
|---|---|
| You Own It – Yes, when you buy a car and pay off the loan amount, the vehicle is all yours | Drive New Ones Every Year -Leasing, on the other hand, gives you the option to select new models, possibly every time your lease term is over. Sounds exciting, isn’t it? |
| Infinite Mileage – When you are buying a car, you don’t have a mileage limit | Mileage Limits – Every car lease comes with a limited to fixed mileage limit |
| Repair Cost – As you are the vehicle owner, you pay for the maintenance and repair cost | Warranty Maintenance – Car leasing package comes with a warranty, which covers most repair and maintenance costs |
| No Contract – Want your car tires or headlights changed? You can always modify it without the fear of breaking the contract | Contract – Car lease deals comes with a contract / agreement |
Now that you know the differences between buying and leasing, let’s look at some important factors that you should consider before talking to Mike Smith Honda representative for your next car purchase or leasing.
Factors to Consider: Buying vs. Leasing
Overall Costs:
- Monthly Cost: The cost associated with your monthly payment, insurance and other costs is one major factor to consider while choosing between buying vs. leasing a vehicle. If as a customer, your aim is to get the lowest monthly payment, then you may want to choose the leasing option. Typically, car lease packages have low-monthly payments, which certainly helps in balancing your budgets. In contrast to that, buying a car is associated with a loan payment unless you choose to pay off the entire car price all at once.
- Insurance Cost: Insurance payments are another cost factor that you may want to consider. Leasing option may require you to get more coverage based on the leasing dealers’ standards. Most of the time, car dealers offer lease deals with insurance and a set of listed mandatory coverage. While insurance standards may vary depending on the Honda leasing option you select, they usually include all basic coverages. You can always speak with your Honda leasing dealer to see if the agreement can include gap insurance and some other benefits at no additional cost.
- Down Payments: Another important factor to consider while deciding to lease or buy is the down payment. If you buy a car, you may have to pay a hefty down payment upfront depending on your credit score or the loan term you select. Leasing, on the other hand, doesn’t require you to make a huge down payment. It is certainly a cost-effective alternative.
Depreciation
When you own a vehicle, you don’t usually follow a mileage limit. This means the value for your vehicle gradually depreciates. In contrary, car or truck lease deals always have a mileage limit. This means you pay extra when you go over the mileage limit.
Warranty
When you lease, your car remains covered under the warranty. Because some Honda leasing deals include basic maintenance costs, you are only responsible for the gas and insurance costs.
Flexibility
While some buyers find leasing deals very flexible, many buyers love vehicle ownership because of the gradual ownership benefit. Lease deals can be very appealing too, especially for those looking forward to drive swanky and new Honda models every year. Apparently, it depends on the customers’ preferences to select car leasing or buying.
What Mike Smith Honda Has For You?
Whether you are looking for truck lease deals or want to lease a Honda Civic sedan, Mike Smith Honda offers some incredible Honda leasing specials for you. Some of their deals include down payments with no security deposits, featured special lease deals on selected Honda models and many more benefits.
Bottom Line:
As with any such financial step, it’s you who needs to take the decision. And when you are certain whether to select lease deals or go with the car buying option, our experts at Mike Smith Honda are going to assist you in every step. Our sales team will guide you and help you with your Honda leasing or buying journey, so you have an amiable experience in owning or leasing a vehicle from our showroom.
Visit our webpage and our lease specials page to learn more about our lease deals, truck lease deals and other Honda leasing choices. When you are ready, give us a call at (888) 276-8172, and an expert from our team will be of assistance.
As always...a great experience. The financing has been streamlined since the last purchase. I was out of there in record time!
Meredith Hamilton Kevin was superior! He was working in horrible conditions from the damage of Imelda. He conducted business in the most professional manner, explained details and delivered my my vehicle to me. Great ...
Marioreen Gibson Got there at 10:15 AM with no appointment and service assistant Haley got me in right away for express lube. There was one car in front of me. Haley is very professional and she knows her job well. Sh...
Nikki Brackin Joey was great! He entire experience was one of Germany’s better ones we have experienced! The finance manager all the way up to the GM were all forthright and honest.
Angela Miles Great experience!! Awesome staff. Dustin and Anthony were very nice and accommodating. I would recommend this place to everyone
Brandy Berard Advisor Ashley was on point, the tech Lyndon did great work. No complaints. I’d get my Chevy truck serviced here all the time if I could but it’s a Chevy...
Jason weinman Advisor Kevin was friendly and efficient. Gave me the information needed dropped my car off for oil change and inspection then wash. Text me results and they took care of it. Nice visit.
Dawn Clary They were very courteous, helpful and answered all of my questions. I needed to go to a birthday party, so the dealership gave me a loner car to use. I love this dealership!!
Angie E Not only was the rep i worked with extremely professional, but he kept me informed of everything that happened and basically treated me like someone who mattered, special even. No shady business, talk...
Jason Thomas Great car buying experience. Sales and management worked together seamlessly! They answered all of our questions and were very helpful with the rundown on the vehicle we purchased.
Will Spector