For many car shoppers out there, the most vexing part of the process is often the decision over whether to finance or lease their new Honda vehicle. Here at Union Park Honda, we know that deciding which option is best for you can be confusing, but we have years of experience helping shoppers like you make the best financing choice for your situation.

Basics Of Leasing

Leasing involves making agreed-upon monthly payments for a designated amount of time in exchange for being able to drive it. At the end of the lease period, you will then return the vehicle. Payments are usually less when you lease because you will not ultimately own the vehicle. A lease may allow you to be able to afford more features and options than you would when buying.

Leasing a car also lets you drive a new vehicle every few years, allowing you to be virtually maintenance-free. Your warranty covers most expenses and may even come with perks such as some free maintenance services. It's important to keep in mind that there is typically a limit on yearly mileage with a lease.

Basics Of Auto Loans

When you buy a car, your monthly payments are going toward the principal cost. You will own it outright when the last payment is made. You usually benefit by putting more money down for a down payment and fees, although it's not necessarily required. Monthly payments are also typically higher than they are when leasing. You'll be responsible for maintenance for the time that you own the vehicle. However, you're free to drive as many miles as you choose and make any modifications you'd like.

Contact Union Park Honda For More Information

We hope you have a better idea about the buying and leasing processes. Our finance team is ready to help you pursue whichever financing option best suits your particular circumstances and needs. Contact us today or stop in to view our new Honda inventory.

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