Buy vs Lease near Fairfax, VA

If you’re currently trying to decide whether to purchase or lease your next set of wheels, Honda of Chantilly is here to help make an informed decision that makes sense for your needs. After all, both paths offer different advantages for various individuals, so it’s vital to know what’s at stake. So, after chatting with the Finance Department at Honda of Chantilly, visit us at the dealership to see your options in person!

Auto Leasing

Chances are you’re less familiar with leasing, so we’ll begin this overview by discussing how this avenue works. Instead of paying off a new model’s full sticker price with the intention of eventually owning it, you’ll instead be charged an amount that mostly reflects its depreciation since you’ll return it to us after two to four years. Doing so makes it more affordable for many to experience a factory-fresh ride, in addition to allowing customers to try something new more frequently. However, you’ll have to stay under a certain mileage allowance during your contract, and will always have a car payment unless you decide to make a purchase down the road.

Buying a Car

Unlike leasing, buying a vehicle ultimately leads to full ownership. However, you’ll first need to take out a loan and pay down the balance plus interest, which can be expensive and timely since a standard plan lasts anywhere from four to seven years. Furthermore, by the time you’ve made the last installment, you’ll have an older car in your possession, which might mean missing out on updates as they’re released. On the other hand, you’ll be able to drive as much as you please and won’t have to keep making payments, which some drivers might prefer. Not to mention, you can pass the model down to your kids whenever you’re ready for something new.

Which Should I Choose?

Although you’ll need to weigh several personal factors to determine whether buying or leasing makes the most sense for you, we’d like to point out a few scenarios that might work better with one category over the other. For instance, if you like to change up your ride every few years, then leasing could be the more logical path, especially if you anticipate new life circumstances in the near future. That way, if you end up having kids, you can hand in your Civic in exchange for a Pilot or Odyssey to better accommodate your needs. Meanwhile, those seeking consistency can feel confident about buying a Honda due to the fact that these models are built to last and hold their value well.

Honda of Chantilly can provide additional details to help you decide whether to buy vs lease near Fairfax, VA, so give us a call or visit the showroom today. Until then, we encourage you to use our website to view our current selection and competitive incentives!