Lease vs. Buy a Honda: Best Deals Under $500/Month

Shopping for a new Honda and trying to decide whether to lease or buy? At Kunes Honda of Quincy, we know that finding the right payment plan is just as important as choosing the perfect vehicle. With a budget of $500 per month, you have access to an impressive selection of Honda models and financing options.

But which is better—leasing or buying? Each has distinct advantages depending on your financial goals, driving habits, and how long you plan to keep your vehicle. Let’s break down the pros and cons of both so you can make the best decision for your needs.

Leasing is an excellent option for drivers who want lower payments, the ability to drive a new vehicle every few years, and minimal maintenance worries.

• Lower monthly payments: Since you’re only paying for the vehicle’s depreciation during your lease term rather than its full price, your monthly payment is typically lower than if you were financing.
• Newer car, more often: Leasing lets you upgrade to a new model every two to three years, keeping you up to date with Honda’s latest technology, safety features, and fuel efficiency.
• Warranty coverage: Most lease terms align with the manufacturer’s warranty, meaning little to no repair costs—just routine maintenance like oil changes and tire rotations.
• Minimal upfront costs: Lease deals often require a lower down payment than purchasing, and some even offer zero down options.
• Tax benefits for business use: If you’re using your Honda for business purposes, leasing can offer tax deductions based on usage.

• Mileage limits: Most leases come with annual mileage restrictions (typically 10,000-15,000 miles). Exceeding the limit may result in additional fees.
• No ownership: Since you’re renting the vehicle, you won’t have the chance to build equity in the car.
• Potential end-of-lease fees: You may have charges for excess wear and tear or fees if you decide not to lease again.

If you’re planning to keep your Honda for the long haul, financing might be the better route.

• Ownership and equity: Every payment you make builds equity, meaning you’ll own the car outright once the loan is paid off.
• No mileage restrictions: Unlike leasing, you can drive as many miles as you want without overage penalties.
• More customization options: Since the vehicle is yours, you can modify it with aftermarket accessories, paint jobs, or performance upgrades.
• Long-term cost savings: Although the monthly payments might be higher than leasing, financing eliminates payments once the loan is paid off. You’ll also avoid lease-end fees.
• More flexibility: If you want to sell or trade your Honda before the loan is fully paid, you can do so without early termination fees.Empty Paragraph

• Higher monthly payments: Financing typically requires higher payments than leasing, as you’re paying for the car’s full value rather than just its depreciation.
• Maintenance costs over time: As the car ages, out-of-warranty repairs could add up. However, Honda’s reliability helps keep maintenance costs reasonable.

For those considering ownership, we offer competitive financing rates to help keep payments manageable. Current opportunities may include:

• Special financing rates on select sedans and SUVs.
• Low-interest options with flexible loan terms.
• Payment structures designed to fit within a $500/month budget for qualified buyers.

Financing terms vary based on creditworthiness and vehicle selection, so reach out to our team for personalized options.

• You prefer lower monthly payments
• You want a new car every few years
• You do not drive excessive miles
• You want to avoid long-term maintenance costs

• You want to build equity and own your car
• You drive a lot and do not want mileage restrictions
• You plan to keep the car for five or more years
• You want the freedom to customize your vehicle

Ultimately, the right choice depends on your financial goals, driving habits, and preferences. If you like the idea of always driving a newer vehicle with lower payments, leasing is an excellent choice. However, if you’re looking for long-term value and ownership benefits, financing might be the way to go.

No matter which option you choose, Kunes Honda of Quincy is here to help you find the perfect Honda under $500/month! Our team of experts will work with you to find the best lease specials and financing deals that fit your budget and lifestyle.

• Browse our latest Honda lease and finance offers
• Get pre-approved for financing online
• Schedule a test drive today

Visit Kunes Honda of Quincy or contact us to explore your options and drive home in a new Honda today!