Do I Lease or Purchase my next Honda? Jackson area Honda buyers have many finance options.

March 16th, 2010 by

2010 Honda Accord Sign & Drive
We have similar specials on Pilots, Odysseys, Civics, Insight and Accord Crosstour

Honda Finance has come out with some incredible specials this month so how do you decide which special is right for you. Do you keep your money in savings and take advantage of one of our many Sign & Drive Leases that require $0 Down and a low monthly Payment? Will you really want drive your next car after it’s paid for or upgrade in 3 years to take advantage of new technology, better gas mileage, improvements in safety or just changes in your lifestyle.

If you traded in your last car before it was paid for you leased without any of the benefits!

Choosing between leasing and financing is as important as choosing the right model. So what are the benefits of both leasing and financing?

LEASING

In a lease, you do not purchase an automobile. You contract to use it for the first, and best, period of its life.

Less Cash Up Front – One of the biggest advantages of a lease is that it does not usually require a substantial down payment. In many states, you can even pay the sales taxes as part of your monthly lease payment, rather than in a lump sum.
Lower Monthly Payment – If the finance period is the same, your monthly payments will be lower when leasing (vs. financing) because your payments will be based on the vehicle’s estimated depreciation. (You are contracting to use a portion of the car’s value, rather than buying the entire car.)
A New Car More Often – Your taste and preference may change, and a short-term lease makes it easy to drive a new car more frequently. Additionally, you may have needs for a larger or smaller car in a few years, and a lease makes it easy to plan for such changes.
Guaranteed Future Value – You don’t have to worry about resale value. If your car depreciates more than the estimated residual value in your lease contract at full term, you can turn it in at the end of your lease term. But if it’s worth more, you can buy it and keep it or resell it. A lease gives you an option.
BUYING

If you typically keep your vehicle for five to ten years, then financing may be your best option. Patty Peck Honda has many options in financing your new vehicle, with competitive rates and terms designed to meet your needs.

Pride of Ownership – Ownership may instill a sense of pride. It can also build equity over time. Payment by payment, an owner’s equity may increase.
No Restrictions on Mileage – This is important to consider if you drive more than 20,000 miles per year.
Make Changes to Car’s Appearance – You can alter the interior or exterior to suit your taste (though your choices may affect the resale value.)
Whether you are looking for a new Accord, Accord Crosstour, Civic, Pilot, Odyssey, CR-V, Ridgeline, Insight, Fit, or Element we can help with all of your finance options. Our monthly Honda specials include lease specials as we as available low apr specials on New Honda cars, SUVs, Mini-vans and trucks. Patty Peck Honda is Mississippi’s #1 Volume Honda Dealers so you can depend on us for the best price & incredible inventory when choosing your next vehicle.