Leasing and Financing: What’s the Difference?

One of the questions we often get, here at Ontario Honda, pertains to leasing and financing. This discussion happens after you have chosen a Honda vehicle, have taken it out on a test drive, and like it.

Leasing and financing are both payment options that you can pursue, though they offer very different experiences. These are the ways they are different:

Leasing

When you lease a vehicle, you are essentially renting it. By this, we meant to say that you will be paying monthly installments for the ability to drive the vehicle. You will not own it, and there will be certain parameters you will have to abide by.

Financing

Financing is the general mode of payment many of our customers take. When you finance a vehicle, you often take out a loan to cover its initial cost. Then, over the years, you pay down the loan. You own the vehicle, have no mileage restrictions, and will have complete ownership of the vehicle once you pay off the loan.

If you would like to learn more about leasing and financing, you can visit a page we have dedicated to the subject. Otherwise, feel free to visit us at Ontario Honda, located conveniently in Canandaigua, NY. Our team can help you with all of your automotive needs.

Categories: Finance

Comments

Nothing posted yet.
true true true true true true true true true true true true