Lease or Buy?
Our Experts Will Help You Make the Right Decision
If you are not sure if you should lease or finance your next Honda, visit us today at Waterloo Honda and let our experts help you. They will provide you with all of the information regarding both buying solutions so you can make an informed decision.
Leasing is a great solution if you want a low monthly payment. Generally speaking, leasing will be more affordable on a monthly basis than financing. It’s also a great solution if you want to exchange your vehicle every three or four years because you can simply return the vehicle and get a new one at the end of the lease contract. You, therefore, do not need to worry about depreciation. On the other hand, leasing does come with mileage restrictions. If you drive over 25,000 km per year, financing may be the better option. The other advantage of financing is that you own the vehicle, which means that all of the maintenance you undertake is an investment. It’s also the best option if you plan on keeping your vehicle for over five years because you may be done paying for it by then and you will be able to drive it without a monthly payment.
This is just an overview of the differences between leasing and financing. If you would like a more comprehensive explanation, book an appointment to speak with a member of our team. They look forward to helping you.