If you prefer to drive newer, safer, more reliable cars or trucks, prefer not to pay a sizeable down payment every 3-4 years, and also don’t drive an excessive amount of miles annually, then a new car lease could be right for you. Leasing is better for those who prefer to escape the annoyance of buying and selling every time they want to upgrade to a new car.
On the other hand, if you prefer long term automotive relationships with a greater sense of commitment and ownership, then buying might be what’s right for you. Car-buying is typically best for drivers who won’t mind driving the same car, truck, or SUV for over five years or even until it’s no longer fit for the highway.
Knowing the pros, cons, and overall benefits of leasing vs buying a car is important. Be sure to acknowledge factors such as potential savings, vehicle ownership, monthly payments, and repair costs when weighing the pros and cons of the best new vehicle financing type for you.
When weighing the value of vehicle financing, new car, truck, or SUV ownership absolutely comes along with many advantages, most associated with outright ownership of the car, truck or SUV. You may not be aware, however, there are also some great advantages to leasing, as well. It’s important to consider all financial aspects including depreciation, down payment, monthly payments, term length, buyout payments, interest rate, and maintenance & repair costs, before making a decision. A close observation of your current financial situation, future needs, and your preference for commitment, will likely ensure that you make the ideal choice between leasing and buying a new car, truck, or SUV.
Car lease payments are often times less expensive in comparison to car financing and loan payments as the normal lease deal is pretty much renting with the option to purchase at the end of your lease term. Consider when leasing that you will need a decent credit score, and will be required to carry comprehensive and collision insurance, although the same can be said for the better rate auto loans. Though it can likely add to your monthly payments, it is also better to select a model with the features you want or need, as personal satisfaction is often priceless.
Auto leasing often includes regular vehicle maintenance & repair. It is important to remember this when calculating monthly costs of ownership vs leasing. No matter what make and model you choose, mechanic bills are an uncertain cost that can quickly add up. And for those of us who aren’t certified mechanics with a hydraulic jack and full toolset in the garage, leasing could be the best option for peace of mind.
In general, a new car, truck, or SUV lease saves money in the short term with lower monthly payments, while buying earns you a long term investment, meaning full ownership of the value of the car or truck at the time it is traded, sold, or paid-off. For best value on a lease, avoid lease return fees for terminating the vehicle lease early, going over mileage, or putting on excessive wear and tear. For the best investment on a purchased/financed vehicle, you can pay it off quickly and also avoid excessive wear and mileage.
| Lease | Buy | |
| Ownership | No Ownership | Pride of Ownership |
| Down Payment | Smaller Down Payment | Larger Down Payment |
| Monthly Payment | Smaller Monthly Payments | Larger Monthly Payments |
| Maintenance & Repair Costs | Typically Included | Not Included |
| Savings/Investment | Short Term Savings | Long Term Investment |
| Finance Term | Approx. 2-4 Years | Approx. 3-6 Years |
| APR % | Credit-Based | Credit-Based |
| New Vehicles | Available | Available |
| Pre-Owned Vehicles | Not Available | Available |
| Vehicle Customization | Not Available | Available |
| Poor Credit Financing | Not Available | Available |
Gillman Honda Fort Bend knows that choosing the right Honda car and financing option is never easy. Our team of experienced Honda lease and finance specialist are on hand to help you make the right choice. Visit us online, by phone, or in-person at our dealership location in Rosenberg, TX. We look forward to serving you.
I’m pleased to leave a review of Gillman Honda Fort Bend. The Ford F-150 King Ranch I bought from them is perfect. After an initial xxxx up with the sales process, General Manager Teno Fontenot put me in touch with Sales Director Dominick Pisano and he made the process simple and pleasant. He gave me a great deal on my trade and a terrific deal on the truck. Most importantly he was excellent to work with in getting one post sale issue resolved. I’ve purchased a lot of cars and this was one of the best experiences I’...
I’m pleased to leave a review of Gillman Honda Fort Bend. The Ford F-150 King Ranch I bought from them is perfect. After an initial xxxx up with the sales process, General Manager Teno Fontenot put me in touch with Sales Director Dominick Pisano and he made the process simple and pleasant. He gave me a great deal on my trade and a terrific deal on the truck. Most importantly he was excellent to work with in getting one post sale issue resolved. I’ve purchased a lot of cars and this was one of the best experiences I’...
I made the decision to go to Gillman to buy a new car. Would I go back for my next vehicle? Absolutely. Buying a new car is always super exciting but also a little stressful. Gillman went above and beyond for me even after purchasing my car. The General Sales Manager Dominic called me directly after the transaction to be sure I was satisfied because he sensed that I was hesitant during the transaction. That type of customer service is what will bring me back for future cars. I also purchased a roof rack and cross bars for my new ...
Gillman Honda FB treated me fairly and respectfully. Ultimately I left with a vehicle that I am totally satisfied with and I will go back to Gillman first when I'm on the market for another. You will encounter different styles at every dealership you go to. What gives Gillman the edge is their ability to make you feel like they care about you. Follow-up phone calls, quick turnaround on add-on installation, etc. They are great.
This was an great buying process dealing with Ahmed he made the process smooth with buying my wife a new ride, although finances could use a cheaper rate when getting additional coverage every else was great.
