Buy vs Lease near Santa Barbara, CA

Taking home a vehicle might sound like a challenge, but we want the process to be as easy as it can be. The Finance Department here at Santa Barbara Honda is prepared to help you learn whether your best bet is to buy or lease your next set of wheels.

Purchasing

Whether or not this is your first time shopping for a car, truck or SUV, you have likely considered buying it. This is most often associated with financing a loan, since it is usually more cost-effective to break up the payment over a longer period of time. These agreements last an average of four to seven years and divide the total cost of your vehicle up over that time. After it’s over, you will be the complete owner of your Civic, Ridgeline, or CR-V! One of the benefits that comes with choosing this route is the fact that you’ll see a return on your investment after the contract runs its course. You will also have the opportunity to choose a used vehicle for your trips to Franceschi Park.

Leasing

Are you on a tight budget? Then perhaps a lease would better suit your needs. These plans only put you in charge of paying off the depreciated value of your automobile, rather than its entire sticker value. Not only that, but the duration of these contracts is shorter than that of financing plans. Since they only take two to four years to run their course, you won’t be stuck with the same model for longer than you like. Instead, you will have the option to swap your leased ride for a newer one after the term ends. It is worth noting that only new vehicles are available for leasing, however, this is sure to catch the attention of onlookers as you drive down Cabrillo Boulevard.

Finance Department

Taking the reins of a set of wheels is a big commitment, which is why our team wants to lend a hand. Here at Santa Barbara Honda, we have a well-versed team of professionals in our Finance Department that can assist you in making your choice between buying and leasing. If you want to save cash on a down payment, consider using the Value Your Trade tool to see what your current ride is worth. Then, we welcome you to take advantage of our Payment Calculator feature that estimates what your monthly expenses could look like. Finally, see how we go above and beyond for our customers by reading our rave reviews!