Interested in Leasing a Vehicle? Bob Boyte Honda is Here to Help
If you’ve ever wondered what it really means to lease a vehicle, but weren’t sure where to turn, look no further. Bob Boyte Honda is your financing destination. We will show you everything you need to know about leasing a Honda and how to do it properly. Even if you’ve purchased vehicles in the past, we can show you why leasing is a great option.
What is a Lease?
When you lease a vehicle, you don’t own it. Leasing a vehicle means you have a contract to return the vehicle to a dealership after an agreed amount of time. Think of it like an apartment. You sign the lease to live in that unit for a year, and then you can resign or find something new. A car lease is similar. Whether you live in Madison or Jackson, MS, we here at Bob Boyte Honda can help you find lease terms that fit your budget. The average lease lasts between two and three years. At the end of your term, all you need to do is hand the keys over to the dealership. If you love your car, then you have the option to purchase the car.
Why Do People Lease?
A lease differs from buying a car because you don’t have to make a large down payment for the vehicle. Leases do, however, require fees but they are not as significant as a down payment. Many people also find leasing to be a more cost-friendly option since vehicles depreciate the moment they leave the lot. Leases are a common option for new vehicles, as you can pay significantly less to drive a new vehicle than you would if you purchased it. Part-time drivers tend to love leases because they drive less than 15,000 miles per year. Leased vehicles tend to have manufacturer warranties covering bumper-to-bumper, so you don’t have to worry about paying extra for service fees. Furthermore, monthly lease payments are often less than regular financing payments.
What Should I Ask About My Lease?
If you’re thinking about a vehicle lease, you should consider the following factors:
- Consider the residual value of the vehicle. Higher residual values mean you pay less depreciation.
- Read your lease terms. You are limited to mileage, and you cannot customize the vehicle. Ask us any questions to avoid penalties and fees.
- Research sale prices to see if you’re getting a great deal—this will affect your monthly payments.
Lease a Vehicle at Bob Boyte Honda
Now that you have a better understanding of what it means to lease a vehicle, you’re ready to take that next step. You can even find more finance auto tips like trading in a financed car or even financing a car with no credit. Visit our showroom and our sales team will help you find the right Honda vehicle to fit your lifestyle, like our CR-V lease deals. Then you can work with our finance team to find an affordable lease. Contact us today to learn more!