So, you’ve decided you’re ready for a new vehicle, but what’s next? Whether you’ve found the new car you want or you’re still shopping, it’s never too early to consider if leasing or financing is right for you. Our team at Premier Honda in New Orleans wants to help you make the right decision, so let’s discuss some of the pros and cons of both leasing and financing a new vehicle.
When you lease a new car from a dealership, you sign a contract that allows you to use the vehicle for a set amount of time. At the end of the lease, you can purchase the car or return it to the dealership. Leasing means you don’t own the vehicle; you’re just paying to use it for a fixed period of time.
Financing a car refers to taking out a loan in order to purchase a vehicle. Most notably, financing gives you ownership of the vehicle, but you still have to make monthly payments until your loan is paid off. You should also consider that on top of your monthly payments, you will likely have to pay fees and interest if you decide to finance.
As you can see, there are many factors to consider when deciding whether leasing or financing a vehicle is best for you. At Premier Honda, our finance specialists in our finance department are dedicated to finding a plan that works for your specific needs. If you’re ready to apply for financing, give us a call or get pre-qualified online today.