What Is the Difference Between Leasing and Financing?

One of the main questions our team gets pertains to the difference between financing and leasing a vehicle. There is an important distinction between these two payment styles, and deciding which one is best for you depends on your specific financial needs, and your driving style.

So what is the difference between these two options?

Financing: When you finance a vehicle you are purchasing it. Generally this means you will take out an auto loan, which will cover the initial cost of the vehicle, and then you will pay down the loan in monthly installments over the year. Buying a car is great if you want a vehicle you can call your own, and if you tend to drive long distances frequently.

Leasing: Leasing is akin to renting an apartment, while financing is like buying a house. When you lease a car, you will pay monthly installments for the privilege of being able to drive that car. You do not own the vehicle, so you don’t have to take out a loan; however, you will be held to certain parameters (mileage, vehicle condition, etc.). However, if you need a vehicle for business purposes, then this is an excellent option to go with.

Regardless of what you choose, though, our financing team can further expound on the details, and help you make a decision that is right for you, and your budget.

If you have any questions about financing, please feel free to visit us at Stockton 12 Honda, located in Sandy, UT. Our team is here to assist you with all of your automotive needs.

Categories: Finance

We are The Honda Giant for good reason; we have giant service, giant selection, and giant deals available on new and used Hondas on our lot. Come down to Stockton 12 Honda at the Southtowne Auto Mall to learn more.

Contact Us

Stockton 12 Honda

10860 S Automall Dr
Directions Sandy, UT 84070

  • Sales: 866-778-1103
  • Service: 801-553-5150
  • Parts: 801-553-5160
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