Buy Or Lease

Buy vs Lease - Crown Honda in St. Petersburg, FL

Car Buying

Advantages
  • More economic in long run
  • Pride of ownership
  • Can dispose of at any time
  • Receive residual value at trade-in
Disadvantages
  • Higher monthly payments
  • Higher down payment
  • Pay sales tax on purchase price
  • Immediate depreciation

Car Leasing

Advantages
  • Can afford a better car
  • Lower down payment
  • Lower monthly payments
  • Pay sales tax only on financed portion
Disadvantages
  • No residual value
  • Penalties for excess mileage
  • Penalties for breaking lease
  • Confusing contract

Should You Buy Or Lease?

Buy vs Lease - Crown Honda

Benefits Of Buying

Buying provides the pride of ownership and trade-in value. Drivers might like the idea of owning a car for many years and handing it down to the kids. In the long run, owners spend less on a purchased car, especially if they take care of it so that it lasts a long time. At Crown Honda, drivers can buy an extended warranty if planning to keep the car for many years. An owner can sell the car or trade it in at any time.

Benefits of Leasing

Leasing requires less of an initial outlay and monthly payments are lower. Many businesses like to lease vehicles used for work so that they can deduct the payments without having to depreciate the car. If a business involves driving clients around, say for entertaining or showing real estate, the business might want to lease an impressive luxury car that might otherwise require a sizeable down payment to buy. Alternatively, folks just might like a new car in the driveway every couple of years.

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Crown Honda Dealer Serving St. Petersburg, FL

The friendly folks at Crown Honda in St. Petersburg, also serving Clearwater, Pinellas Park, and Tampa, are the regional experts at clarifying the pros and cons of buying vs. leasing. Either way, the dealership is happy to arrange easy financing The Better Way. Crown Honda, a proud member of the Crown Family of Dealerships, has access to millions of dollars for financing or leasing vehicles, and our dealership offers low APRs and extended terms.

Contact Crown Honda of St. Petersburg, FL today to request more information about buying or leasing a fine Honda vehicle. Request Info