New Honda Accord Lease Deals

What Are the Benefits of Leasing a Vehicle?

Leasing provides many short-term and long-term advantages for car shoppers. Entering into a lease is essentially like a rental agreement, only for a car. There are two basic lease structures, which are closed-end and open-end, or equity. Both are finite arrangements where you lease a vehicle for about two to four years. With a closed-end lease, you can walk away from the lease and the car when you make the last lease payments. With an open-end lease, you choose to become the car's owner by paying down the principal. Either way, you'll avoid some of the higher expenses associated with a new vehicle, including taxes imposed by the state.

Along with having the choice of what happens at the end of your lease, you'll realize tremendous cost savings throughout the lease. Leasing avoids sales taxes initially, and it can also be a way to save money on car insurance and other related car fees such as registration. When you lease a car, you don't have to worry about surprise fees that might arise over the years, such as maintenance and repairs, as both are covered under a manufacturer's warranty. This means no hidden surprises and predictable financial investment. Another benefit of leasing is that it is an accessible form of vehicle financing available to all car shoppers rather than a select few. Leasing doesn't have stringent requirements for income and other aspects of your financial situation, making it a more customer-friendly option for most car shoppers.

To learn more about the advantage of leasing a Honda Accord, contact our dealership today.