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Financing vs Leasing

Is it time to look for a new car and can't really seem to decide whether you should Finance or Lease? We have compiled many questions that customers has asked us in the past. This section here will help you make a more accurate decision.

What are the benefits of Financing a car?

Here are some questions you might ask yourself before you consider financing your next car:

  • Do you drive more than 24000 km per year?
  • Are you able to handle higher payments because you are paying for the full amount of the car?
  • Do you like to modify your car?
  • Do you plan to keep your car for more than 5 years?
  • Do you like being able to have no payments at the end of your term?
If you answered yes to any of these questions, financing may be the way for you.

Financing a car is a very common option that most consumers choose when purchasing their next car. It is the next best thing next to paying outright with cash. Why pay cash when you can get low interest rates from Honda Canada? Rates can go as low as 0.99% (on approved credit) and in some cases interest for your whole term may only cost you a couple hundred of dollars. We can even tailor make your financing term to fit your monthly budget. In most cases, many consumers decide to even take bi-weekly payments to match the time they get paid. Unlike many years ago, now we only deal with open loans. At any given point, you can pay off your loan and not pay interest on your remaining balance.

With owning your car, you can travel as much as you like. Take the car to where you want and when you want without and kilometer restrictions at all. Modify it to the way you like without having to return it to the original state. Sell it privately, gift it to a family member or friend as long as you have paid off your lien. Trade it in whenever you like with our without a lien on your car. Create your story with your very own car and tell your friends and family

What are the benefits of Leasing a car?

Here are some questions you might ask yourself before you consider leasing your next car:

  • Do you drive less than 24,000 km per year?
  • Do you enjoy driving new cars every 3 - 5 years?
  • Are you able to write off your car payments?
  • Have you been into an accident before?
  • Are you uncertain you want to keep the same class car for more than 3 - 5 years?
If you answered yes to any of these questions, leasing may be the way for you.

Leasing is a great option to a lot of single or even growing families. Students especially benefit from leasing a car because they may want to change their car in a couple of years. If they get into an accident, the accident stays with the car. After the lease ends, just return it to Honda Canada and you will not have to worry about losing value in trading in your car. Even if you have one or two years left on the car, always come back to Castle Honda and we will try to get you out without having penalties.

When you lease a car, you only pay for a portion of the car. This will keep your payments lower and now we even offer bi-weekly leasing as well. With high residual values brought to Honda, payments will always stay low in conjunction with our low interest rates as well. Being a lease customers with us at Castle Honda gives you preferred pricing the next time around when your lease is up.

Every couple of years, you can have a brand new car with full warranty. Always keeping that fresh car smell and look. It is a perfect solution for consumers who don't like to spend money fixing their old cars and with the option to upgrade if their life needs changes. There are many more benefits of Leasing your next car with us. If you have any questions at all, please call and talk to one of our Sales Consultants today.