Should You Lease or Finance a Honda in Tuscaloosa AL?
When people look to buy a new car, they often look to financing first, but there is another way to get behind the wheel of a new car. It’s called leasing. Leasing isn’t right for everybody, but it could be right for you. Townsend Honda can help you determine if you should lease or finance a Honda in Tuscaloosa, AL.
Read through our guide below to learn about your options. You can browse through all our new Honda models that we currently have in stock online at Townsend Honda. If you would like to see some Honda options right here in Tuscaloosa, then click the link that we have below. Our new Honda inventory includes popular options like the Accord, CR-V, Pilot, Odyssey, Ridgeline, and more. Keep reading to learn more about Honda financing and leasing.Check Out Our New Honda Models
Advantages to Financing a Honda
Financing a new car purchase is the most traditional way of getting into a new car. It starts with a down-payment that can include your trade-in. From there you will have monthly payments that typically last for up to 60 months. At the end of that period, you own the car.
Financing is best if…
- The car is yours to do with what you please.
- Eventually, your car payment goes away.
- No mileage restrictions.
- You can sell the car whenever you want, as long as it's paid off or you can pay off the loan in the process of selling.
- You drive a lot.
- You want to own a vehicle.
- You want to sell the car in the future.
Advantages to Leasing a Honda
Leasing a car is a lot like renting a car except it’s a long-term solution and it’s more affordable. When you lease, you provide a small down payment and select your term length and mileage limit. At the end of a lease, you can select a new lease or buy the car for its residual value.
Leasing is best if…
- Keeps you in a new car.
- Lower monthly payments.
- Lower down payment.
- Most term lengths and agreements keep you under warranty throughout the lease as long as you don’t exceed mileage.
- You don’t drive a lot.
- You want to have the latest tech.
- You only want to drive cars under warranty.