Leasing or Buying a New Honda at Fisher Honda in Boulder

August 10th, 2011 by

Buying or Leasing a New Vehicle From Fisher Honda in Boulder, Colorado

Fisher Honda Has a Wide Variety of New Vehicles for Lease or Purchase

When looking at a new car from Fisher Honda, consumers often wonder whether they should lease or buy.  One is not necessarily better than the other, but rather it comes down to personal preference.  Purchasing and leasing loans are two different methods of vehicle financing.  Each type of loan has it’s own benefits and drawbacks.

When deciding which loan is best for your situation, you must compare the cost of leasing versus buying, and you should also have a good idea of what you want out of the vehicle.

What’s the Difference Between Leasing and Buying From Boulder’s Fisher Honda?

Leasing is not the same as renting.  When you lease a vehicle from Fisher Honda you are required to pay only a portion of the cost of that vehicle over the period of time during which you are driving it.  For example, if you lease a $28,000 car that is expected to have a resale value of $19,000 by the time the lease is up in two years, you will only be making payments on the depreciation value, which is $9,000 plus finance charges and any other fees.  At the end of the leasing period you will have the option of returning it to Fisher Honda or purchasing it for the vehicle’s depreciated value.

If you choose to buy a vehicle from Fisher Honda, you will be paying for the entire cost of the vehicle plus financing charges, taxes, and fees.  At the end of the loan, however, the vehicle has a depreciated value and is no longer worth what is was when it was first purchased.  The main benefit of buying is that once the loan is fulfilled you own the vehicle outright and will no longer have a car payment.

If you prefer to drive a new car every couple of years, drive an average number of miles, properly maintain your vehicles, want lower monthly payments, have a stable lifestyle, don’t care about building ownership equity, like having a car with the latest safety features that is always under warranty, and are willing to pay more in the long run, then leasing may be best for you.  However, if you like the idea of having ownership of your car, intend to hold on to your vehicle, don’t mind higher monthly payments at first, like paying off your loan and being payment-free for a while, drive more than average miles, may have a lifestyle or job change in the near future, do not mind paying for unexpected repairs after your warranty has expired, or like to customize your cars, then buying is probably your best choice.

Fisher Honda in Boulder Can Help With All of Your Buying and Leasing Questions

For more information on leasing or buying a vehicle from Boulder’s Fisher Honda today, stop in or visit us online.  We are committed to offering our customers the total package: excellent customer service, honest and experienced sales staff, huge selection of vehicles, and competitive pricing.  Contact us today and let us help put you in the new or used vehicle of your choice.