The Advantages of Leasing
Many drivers have heard of a lease before, but at Fisher Honda, we have found that most people don’t know the many advantages of leasing. Did you know that when you lease a new car, you could have a lower monthly payment than purchasing it outright? You could also spend less on taxes and choose to simply switch over to a new lease when yours is finished.
The finance team at Fisher Honda wants to make sure you know all of your options, especially those that can save you money.
Benefits of Leasing
These are just a few of the benefits of leasing that our drivers have told us they appreciate:
- Lower Monthly Payments: On a lease, you only pay for the amount the vehicle depreciates, which often results in a lower monthly payment than if you’d purchased the vehicle outright.
- Monthly Sales Tax: On a loan, the sales tax is usually added to the purchase price when you buy the vehicle, letting it gain interest. On a lease, you pay that tax monthly, in small increments.
- Guaranteed End-of-Lease Options: You know exactly what your options are for your lease when the terms end, and you can plan to buy your car, switch to a new lease, or… well, we’ll get to all of your options below!
- Honda-Exclusive Benefits: Honda has special benefits that are exclusive to the brand and only come with leasing one of these models from a new Honda dealership.
- GAP Insurance: Should something awful happen with your vehicle and it costs more to fix than it’s worth, GAP insurance covers the difference.
- Warranty Coverage: Leased vehicles are almost always under the full warranty coverage for the terms of the lease, which means no worrying about unexpected repair costs.
While some drivers to choose to purchase their vehicle for themselves at the end of their lease, there are many other options as well, including:
- Leasing a new car
- Purchasing and then selling the vehicle to someone else
- Turning in the car if you decide to neither lease nor buy.
The rates and terms for any of these options are set out in your initial lease as well, so you can know how much it will cost to buy your vehicle, which will be based on its residual value.
Why Lease if I Can Pay Upfront?
Even if you plan on purchasing a car, that 36-month lease is a smart decision. You pay less in taxes upfront and have a three-year window to get used to the car and get comfortable in it. We can’t imagine someone being unhappy behind the wheel of their Honda, but leasing before buying gives you that trial period where you can decide whether or not it’s the right vehicle for you.
Learn More at Fisher Honda
We know that making the decision for how to pay for your next car can be a tough one, and our finance team is here to answer any questions you might have. Contact us online or by phone at (303) 245-6417 with any questions about leasing your new Honda. Or visit us at 6025 Arapahoe Rd in Boulder.