Should I Buy or Lease?

Shopping for an exciting new Honda car, truck, or SUV in the Brick area? If so, you’re probably wondering “Should I buy or lease?” While it is a good idea to check out the potential benefits of each, the decision will ultimately come down to what you want and how much you can afford. In this lease vs. buying guide from Honda of Toms River, our finance team will break down the differences to help you decide which option is the best one for you.

Benefits of Buying

• No Mileage Restrictions: If you expect to be doing a lot of driving in and around Manahawkin, buying a vehicle may be the better choice. A car lease comes with strict mileage restrictions.
• Total Ownership: Buying a vehicle means it’s yours to do with as you please. You are not only free to upgrade, modify, or customize the vehicle, you can also opt to sell it whenever you wish to.
• Financing Options: Car financing is often more straightforward, even for those with a less-than-ideal credit score. You’ll also have the option to refinance your loan to lower your interest rate and monthly payments.
• Less Cost Over Time: You will pay more upfront when buying a car, but the vehicle actually becomes less expensive to own the longer you have it.

Benefits of Leasing

• Lower Payments: Both the down payment and ongoing monthly payments are lower when you lease a car.
• Less Sales Tax: You will only have to pay tax on the down payment and for the monthly payments in most states.
• Trade-Ins: At the end of the lease agreement, you’ll have the option of upgrading to the newest model. Just stop by our local Berkeley-area dealership, pay any remaining fees, and drive away in a vehicle equipped with the most up-to-date amenities and tech features.
• Warranty Coverage: Car lease agreements almost always include warranty coverage for all vehicle maintenance. As long as you don’t go over the mileage limit, you won’t have to pay out of pocket for routine maintenance services.

Explore Your Leasing & Financing Options at Honda of Toms River

Whether you wish to buy a brand new Honda Accord or prefer to opt for a Honda HR-V lease, you’ll get a great deal at Honda of Toms River. Check out our financing FAQs, and if you have any additional questions about leasing or financing, insurance options such as GAP insurance, and how to get a car loan with bad credit. Make sure to browse through our new vehicle specials to take advantage of our current offers. You can also use our convenient payment calculator to determine what your monthly payments will be, and apply for financing with us online to get pre-approved from the comfort of your home. Please feel free to contact us if you have any questions.