Should I Buy or Lease?

hands the keys to the car

When shopping for a new vehicle to upgrade your Asheville-area commute, you might be asking, “Should I buy or lease?” There are benefits to both buying and leasing, but it really comes down to what your needs are, what you can afford, and what you want. Take a look at the benefits of financing and leasing, and when you’ve decided which is right for you, come on down to Apple Tree Honda.

Benefits of Buying

  • No Mileage Restrictions: If you expect to be doing a lot of driving in and around Johnson City, you may want to consider buying. Without the mileage limits that come with a leased vehicle, you’ll be free to drive as much as you want.
  • Total Ownership: When you buy a vehicle, it is entirely yours and you are free to do whatever you wish with it. There are no restrictions on how it’s modified, adapted, or decorated.
  • Customization: Buying rather than leasing allows you to accessorize and make cosmetic and mechanical changes as you see fit. You’ll be able to create the car of your dreams, customized to your specifications.
  • Ability to Sell: Not being locked into a lease agreement allows you to sell your vehicle outright whenever you choose.
  • Financing Options: The car financing process can be more straightforward than leasing, and is generally a better choice for those without stellar credit scores. When you buy a car, you also have the option to refinance your loan in order to lower your interest rate and monthly payments.
  • Less Cost Over Time: Though buying a new car is more expensive initially, it is less of a cost over time as you work towards paying off your loan. With total ownership, your vehicle will become less expensive to own the longer you have it.

Benefits of Leasing

  • Lower Payments: When you lease a vehicle both the down payment and the monthly payments will be much lower than buying.
  • Less Sales Tax: Most states have significantly lower sales tax on a car lease. In some areas, you may only have to pay tax on the amount of the down payment and on your monthly payments.
  • Trade-Ins: Once the lease agreement is over, it’s easy to upgrade to the latest model. Just head to your local Fletcher dealership, pay any remaining fees, and drive away in your next vehicle of choice.
  • Great Coverage: As long as you don’t go over the mileage limit, warranty coverage and maintenance is covered in your car lease.
  • Options: When you lease, you’ll be able to stay behind the wheel of the newest models with the most up-to-date tech features. You’ll enjoy a wide range of options and will be able to find the perfect model and features for you.
  • High Approval Rate: Many Hendersonville drivers who have been denied for a car loan will find that it is much easier to get approved for a lease. Even those with poor or no credit can be approved.

Explore Your Lease and Finance Options at Apple Tree Honda

When looking at lease vs. buying, the decision will come down to your personal requirements and financial situation. Here at Apple Tree Honda we offer a wide variety of new vehicle specials, as well as a great vehicle exchange program that makes upgrading to a new Honda easy and more affordable than ever. Make sure to check out our Apple Tree warranty, and apply for financing with us online to prequalify for credit today. If you have any questions, or would like more information about buying vs. leasing, liability insurance coverage, or whether it’s possible to lease a used car, please feel free to contact us.

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