Buy Vs. Lease
Buying VS. Leasing at Boyd Honda Oxford
The decision to lease or finance depends on many factors, but most customers make the decision based on monthly payments and how long they typically drive their vehicles.
Buying and leasing each have their own pros and cons. Making the decision ultimately comes down to you and your family's individual needs, habits, and lifestyle.
Boyd Honda Oxford has you covered! We've outlined some of the most common benefits of buying and leasing to help you make your decision.
Benefits of Buying:
- Get the most out of your vehicle! If you don't like to switch cars and like to keep them for 5-10 years, traditional financing might be for you since you get to keep it at the end of the financing period.
- Your ownership of the vehicle increases after every payment you make. And the longer you drive the vehicle after your contract is complete, the more value you derive from your investment.
- No restrictions on mileage. If you drive more than 12,000 to 15,000 miles per year, traditional financing is the best option for you.
- Freedom to make changes. Make changes to your car's engine or appearance by altering both the interior and exterior, costmetic or not, to compliment your personal tastes.
Benefits of Leasing:
- Customers who prefer to lease, prefer to drive a new car every 2-3 years while making lower payments. Leasing a car means you contract to use it for the first (and best) period of its lifecycle.
- Stay on trend with the latest updates in technology, safety, and car styles. You get a new car more often.
- When leasing, you enjoy lower monthly payments in the same period that you'd purchase a vehicle. That's because the payments will be based on the vehicle's estimated depreciation.
- Less cash upfront! One of the largest advantage of leasing, is that it does not usually require a substantial down payment.
- No resale stress. When your lease term is up, you need not worry about getting a good price for your trade-in. Simply turn in the car and walk away, or you can keep it if you've fallen in love.
- Leasing a car for your business? You may find larger tax deductions with leasing than with buying a vehicle. Check with your tax advisor.
To learn more about the buying and leasing processes and the advantages of each, stop by our Oxford, NC dealership today and allow our knowledgeable auto finance team to give you the full run-down. We look forward to meeting you!