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Should You Buy or Lease?

Should You Buy or Lease?

A common question for potential car shoppers is whether or not they should buy their next vehicle or purchase it

. There are benefits and drawbacks to each which should be considered before making your final determination. Honda dealers in Greenville want you to have all the information necessary to make an informed decision. The following tips can help point you in the right direction when you are in the market for your next vehicle.

Understand the difference between the two options- The first step is learning exactly what differentiates a car purchase from a car lease. Both options involve the financing of a vehicle. When you buy a new car, you are simply financing the purchase. When you lease a vehicle you are financing the use of that vehicle.

Determine you transportation needs- When you lease a vehicle you agree to return the vehicle in a certain condition (including specific mileage) at the end of the lease. This means that you must be certain that during the length of the lease you are able to meet these conditions or you may find yourself facing a hefty bill when the lease period expires.

Determine your long term goals- If you want to pay off your vehicle and have a few years in between car payments, buying is the better option for you. On the other hand, if you prefer driving a new car every few years and don't mind the constant car payments (which are generally lower than that of purchased vehicles), leasing may be the best bet.

Honda dealers understand that each person has their own unique needs and budget with which to work. There is no simple answer as to which is better because the answer depends on the individual. What works well for one family might not be the best answer for another, therefore it is important to consider the options carefully before signing on the dotted line.

Should You Buy or Lease?

By: Rob Stockton
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