Leasing vs Buying a Honda

Whether you’re looking to cruise around Tampa, Citrus Park, or Lutz in a new Honda Pilot or a Honda Accord, the main decision you’ll need to make when getting a new car is how you’d like to pay for it. Your two main options are either to buy the vehicle or to lease it. While each option comes with its own advantages, our Tampa Honda team wanted to give you a better sense of what each type of financing provides. That way, you can choose the route you’d prefer when it’s time to meet with a member of our finance team.

Buying vs Leasing
Buying	Leasing
You own the car	Payments are usually lower
No mileage restrictions	Drive a new car often
Can customize your vehicle	Minimal service costs

Leasing vs Buying: What’s the Difference?

First, you’ll want to know what exactly it means to lease or buy a car. Buying a car is a bit more straightforward. You’ll be purchasing the car to own it. That means, you’ll make monthly payments toward the full value of the car through the car loan our finance experts will secure for you. Then, you can drive it as long and as far as you’d like. With a lease, you’re essentially borrowing the car from the dealership for a few years. It’s yours to drive wherever you’d like during that time as long as you stay within the agreed-upon mileage. You’ll also make monthly payments on the vehicle, but only to cover the value of the car during the time you’re driving it. Then, when your lease term ends, you’ll simply bring the vehicle back to the dealership.

What Are the Benefits of Buying a Car?

If you choose to buy your car, there are a handful of advantages you’ll get to enjoy. Since you’ll be paying to own the car, you can drive it for as long and as far as you’d like even after you’ve fully paid off your loan. Along with that, buying a car also gives you the ability to:

Drive as many miles as you want
Sell your car
Add accessories to your vehicle

Since the vehicle is yours, these benefits mean you’ll have the freedom to do whatever you’d like with your vehicle. Take as many road trips as you’d like, add a cargo carrier to the roof, or style the interior with any additional accessories.

What Are the Benefits of Leasing a Car?

With a lease, you’ll also have some unique benefits. These include all the financial advantages drivers typically tend to enjoy with their lease, such as:

Lower maintenance and repair costs
Lower monthly payments
Lower up-front costs

Because of this, many drivers find they can budget for a higher trim level with more tech and luxuries when leasing their vehicle. A lease also provides some flexibility since you’re only committed to the vehicle for those few years. Then, once your lease ends, you’ll have several options available to you. Start a lease on the latest model year of the car you’ve been driving, switch to an entirely different model if your needs have changed, or buy the car you were leasing if you want to continue to drive it.

Learn More About Honda Lease Deals

Buying vs Leasing a Honda: The Choice Is Yours!

If you plan to drive your Honda around Tampa, Citrus Park, or Lutz for years to come, then you might choose to buy your car. If you like the idea of driving a new Honda every few years, then you may prefer to lease your car. Either way, our finance team can help set up a comfortable payment plan and the financing option you choose for whichever Honda you want to drive! Stop by Tampa Honda today to check out our inventory and meet with one of our finance experts to learn more about leasing vs. buying a car.