When you’re searching for your next car, your goal is likely to find a car that suits your needs at a price you’re comfortable with. That means you need to debate leasing vs. financing and determine which option is better suited to your wants, needs, and long-term budget. The right choice is not always obvious, and what works for one driver may not work for another. No matter what stage you’re at in the car-buying process, use this helpful resource to evaluate leasing vs. financing before heading to VIP Honda to browse our inventory.

Should I Lease?

There are some real perks to leasing instead of financing. First and foremost, you get to skip the down payment and will likely have lower monthly payments. Plus, after your lease contract is up you simply turn the vehicle back in and start driving something new. Overall, this options is simple, exciting, and economical. The major disadvantage is that lease contracts restrict how much you drive and what kind of condition your vehicle must stay in. And if you breach the contract, there can be significant financial penalties. If you drive a limited amount and are good about caring for your car, leasing is absolutely worth considering.

Couple looking at options for buying a car
Couple signing finance papers for buying a car

Should I Finance?

For many drivers, financing makes a lot more sense. You own the vehicle outright, meaning you are free to drive as many miles as you want, modify your vehicle however you choose, and drive it without worries. You can also sell it anytime for the best price you’re able to secure. This option gives drivers a lot more freedom and control. The disadvantage is that you will likely pay more on a monthly basis, and trying to get rid of an older worn-out vehicle is not always easy. If you want to drive without restrictions and take advantage of the equity in your vehicle, financing is likely the better option.

VIP Honda Puts Drivers First

Our number one goal is to help you find a vehicle you love and a purchasing options that fits comfortably into your monthly budget. Plus, we make generous financing offers available to Union and Edision area drivers even if they have bad credit. At VIP Honda, everything you need to shop confidently is under one roof. Visit us at your convenience, and contact us with your questions.

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700 US-22 East • North Plainfield, NJ 07060

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VIP Honda
VIP Honda
700 US-22 East
North Plainfield, NJ, 07060 United States
VIP Honda 40.6267469, -74.4365914.