What is the Difference Between Buying and Leasing?

The automotive acquisition process boils down to two specific options. Between buying and leasing, you might not know which one will best fit your future expenditures and goals. That is why we at Honda of Chantilly are here to fill you in with all of the details so you can make a decision that best impacts your budget and driving needs. Then, you can swing by our Finance Department to iron out all the details!

Leasing

More and more people are switching from buying over to leasing because it allows them to experience the latest automotive updates on a regular basis. That is because terms generally last between two and four years. In that timeframe, you will essentially be renting the Honda driving option of your choosing from us for a rate that reflects the model’s depreciation. This means that you will have a small down payment, or maybe even none at all! And, your monthly rate will be a fraction of the price of financing, so you can save your money for a much-needed vacation. Then, when your term finally ends, you will have the opportunity to choose from one of our many lease end options. These include purchasing the vehicle you originally took home for its remaining value, upgrading, or closing out your contract and walking away.

Buying

On the other end of the spectrum is your opportunity to buy a new or pre-owned vehicle that you are keen on for its full value. This is the option that most drivers take because it allows them to see a return on their monthly contributions. How it works is we will split up the entire sticker price over an extended period of time. Since terms commonly last anywhere from four to seven years, you will achieve full ownership in no time at all. Then, when you are ready to upgrade, you can always use the value of your trade-in to help offset the cost. If this sounds like the right plan for you, go ahead and find out what you can afford by using our online Payment Calculator. Then, you can move on to our Finance Application so we can get started on your loan options.

Inventory

If you haven’t already, you can start your search for the right model by simply tapping into our online inventory right from your smartphone or laptop. We should note that if you are interested in any pre-owned vehicles, that you will have to take the path of buying. To get started, double-click the corresponding link at the top of your screen to be redirected to a page filled with all of the options that we currently have in stock. After that, you can use the filters beneath the Narrow Your Search tool to filter your options down to a few that make sense for you. Then, once you find a few that pique your interest, head down to our location for a trial run!

What is the difference between buying and leasing? We hope we have filled you in with all of the details here at Honda of Chantilly. When you are ready to get started, visit our location!