Fox Honda | Blog Details

Our Honda dealership offers a variety of accessibly-priced sedans, coupes, and crossovers that have a reputation for lasting satisfaction and low cost of ownership. But when it comes to figuring out how to go about financing one, is a car loan or lease a better option? Depending on how you drive, it could be either.

There are benefits to both, but if you want to get started now, filling our out finance application is a solid first step. Once you’ve done that, we can see which option is best based on what we know of your credit, finances, and driving needs. Ultimately, making the best decision can come down to how long you intend to keep your car, and cost of ownership.

For lower costs of ownership, leasing is an excellent choice. A two to four year lease term means you have less chance of needing to pay more for wear and tear, and your monthly payments will be lower because they reflect residual value lost off the MSRP rather than the total vehicle cost. Although often limited by annual mileage stipulations, you still get the option of purchasing the car once the lease ends, or moving to a new one!

Still have questions? Want to get an idea of what a loan or lease agreement looks like based on the new Honda you’re considering? Get in touch with our Grand Rapids, MI sales team to get started.

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