When it comes to leasing or buying, you have the freedom to choose. We here at Richards Honda have taken the time to put together some information to help you determine the best financing option for you and your lifestyle. We compared the benefits of leasing and financing a new Honda at a glance. Which road will you take?
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If you like to change things up every few years, or if you're looking to lower your monthly payment, leasing with Honda Financial may be the option for you. Drive a new Honda for a set amount of time and number of miles, and return it to Richards Honda at the end of your term. With a variety of lease options, you can choose the term and mileage that best fits your lifestyle and payment needs.
If you can't wait to make this Honda your own — customize it however you wish and drive it to the ends of the earth-then financing with Honda Financial is the way to go. Financing your vehicle allows you to make payments for a selected term, and at the end of that term, the car is yours. That means total ownership and maybe even equity.
When you lease a vehicle, you do not own it. You pay to use it during the term of your lease, allowing you to drive the latest Honda models.
You own the vehicle outright after your financial obligations are met, and you can sell your vehicle or trade it in at any time
Since you pay for the vehicle’s depreciation, plus applicable taxes and fees instead of the purchase price, you can drive a premium vehicle for less than you might with financing over a similar term.
Payments are based on the terms of your financing contract. You will have a set number of payments, each of which may help you build equity in your vehicle. Because you’re paying for the vehicle’s full price over the term of your contract, your monthly payment will typically be higher than if you were leasing the same vehicle over a similar term. You can opt to pay your balance off faster by paying more against the principal
We offer a variety of mileage options for you to choose from to meet your driving needs. Whatever you choose as your base mileage option, you’ll retain the opportunity to purchase more miles later on.
You may drive as many miles as you want. However, if you decide to sell or trade in your vehicle, the mileage may impact its value.
Most leases charge you for any damages made to the vehicle. Cracks, cuts, tears or stains that are more than 1/2 inch may be considered excess wear and tear.
Since the vehicle will be yours once you pay off your contract, there are no charges for excessive vehicle wear and use. If you decide to sell or trade in your vehicle, the excessive wear and use may impact its value.
At the end of the lease, you have the flexibility to return your leased vehicle to Richards Honda, purchase it for a predetermined price, or buy or lease a new Honda vehicle.
If you’re the type who needs to put your own personal stamp on your vehicle with cosmetic alterations, then buying might be your best route.
"If you're in the market for a new Honda I definitely recommend going to Richards Honda!"
— Jewels K. | Google Review
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The finance experts at Richards Honda have been helping customers from Baton Rouge, Denham Springs, Zachary, and beyond make that decision for over 40 years. Call or visit our Baton Rouge Honda dealership and a member of our team will walk you through your leasing and purchasing options so you can make the right decision for your needs and lifestyle.