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Elk Grove drivers secure the best financing option
At Elk Grove Honda, we know that no two of our customers are the same, so if you're someone from Sacramento, Elk Grove, Davis, or Roseville, and you're wondering what the right financing solution is for you and your unique situation, join us below as we lay out the key differences between leasing and loans, sharing why some folks might feel pulled one direction or the other. We can't make your decision for you, but we can certainly make sure you have the knowledge you need to make the right decision. Read more below, and if you find yourself with any pressing questions, reach out and we will be happy to help!
Lease or Buy Comparison
Leasing |
Buying |
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|---|---|---|
Overview |
If you like to change things up every few years, or if you're looking to lower your monthly payment, leasing with Honda Financial Services may be the option for you. Drive a new Honda for a set amount of time and number of miles, and return it to Elk Grove Honda near Sacramento 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 a Honda car, SUV, truck or van your own – customize it however you wish, and drive it to the ends of the earth, then financing with Honda Financial Services 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. |
Ownership |
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 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. |
Payments |
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. |
Mileage |
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. |
Wear & Use |
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. |
Flexibility |
At the end of the lease, you have the flexibility to return your leased vehicle to Elk Grove 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. |
I Want To Lease
The flexibility and lower payments of leasing fits many Sacramento, Elk Grove, and Davis area Honda shoppers. Check out our current lease offers to see various leasing specials, or contact us so we can price out lease payments specifically for your needs.
View Honda Lease Offers
I Want To Buy
Ready to buy a new Honda car or SUV from our California Honda Dealership? Start shopping our extensive new Honda inventory.
Shop New Honda InventoryStill not sure if you should lease or finance your next Honda?
Our team of finance experts at Elk Grove Honda, have been assisting drivers in Sacramento County to decide whether leasing or financing a new Honda is the best option, and we will do the same for you. Honda shoppers from Elk Grove, Sacramento and Roseville, can shop with confidence that our team will lay out all possible finance and lease scenarios so you can make an educated and informed purchasing decision. Call or visit our Elk Grove to speak with a member of our team.
