Smart Ideas: Resources Revisited

Why You Should Consider Leasing a Car at Don Wessel Honda than Buying?

There were around 4 million cars more or less that were recorded on lease in 2016. Basically, this is a record high and a number of experts do believe that this trend will keep rising in the next few years. The reason here is that, cars especially SUVs and trucks are pretty expensive for consumers to buy. Furthermore, average finance payment was roughly around 120 dollars that is more than the average lease payment. The good thing is that, leasing a car at Don Wessel Honda doesn’t necessarily require you to spend that much.

By reading this article, we will be focusing on what you must know with regards to leasing as well as financing so by that, you become aware of the buying options that you have.

Being able to know whether to buy or lease a car is already a challenge in itself. Fortunately, there are key differences between these two that might clear your minds and here are them.

Number 1. Ownership – if you have made a decision to buy a car, then that’s for you to keep. The car will be put under your name and you can sell it soon after for a newer model. Apart from that, it’ll be under your discrepancy whether to do some modifications or customizations on the vehicle. On the other hand, if you have elected to consider leasing a car at Don Wessel Honda, then you do not own the vehicle. Because as soon as the lease contract expires, you need to return it. It’s possible that you modify the car but you will need to remove everything you’ve installed on it after the end of lease.

Number 2. Costs – costs is completely different when leasing a car at Don Wessel Honda and buying one. When you buy a car, you are paying for its registration, the down payment or the car itself and taxes but when you lease, you only need to cover the first month’s payment, security deposit, the down payment, taxes, registration and acquisition fee. Say that you make monthly payments on the purchase, then you’re likely to pay higher monthly loan payments than you have to if you lease.

Number 3. Contract termination – when buying a car, it’s yours meaning, you have the right to trade or sell it for any model of your liking. However, when you chose leasing a car at Don Wessel Honda, it could just cost you more rather than sticking to your original contract when it ends. But one great thing about leasing a car at Don Wessel Honda is that, when someone likes to buy that car from the leasing company, you don’t have to deal with any additional fees.