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A Penske Automotive Dealership

Finance Offers

When it comes to whether to buy or lease a car the options can be confusing. To help you make an informed decision we have provided the information below, we hope you find it informative and useful.

Buying

Who Owns It

Whether you pay for the car with cash, or finance it and make monthly payments, either way it’s yours. Of course, if you’re financing it you’ll have to meet the obligations the lender requires, like a certain down payment amount and timely monthly payments. If you don’t, they have the right to repossess it.

Up-front Costs

If you’re financing it, you’ll probably need to come up with a down payment. You can also trade-in another vehicle and use any equity towards your down payment. The amount of the down payment is usually based on the lender’s requirements and your credit score.

Future Value

Your vehicle will be worth whatever you can sell it for in the future and that depends on how well you maintain it. (Be smart and protect your investment with regular scheduled maintenance by a factory-authorized facility!)

End of Payments

Once you’ve paid off what you owe on your contract, that’s it. Your vehicle is 100% yours. The lending institution will probably send you a “Green Slip” as proof that the vehicle is completely paid off and all yours.

Leasing

Who Owns It

You do not own the car when you lease. You’re paying for the use of the vehicle, but the finance institution that you leased it through actually owns it. This is usually why you pay less per month in a lease than if you were to buy the car. .

Up-front Costs

Leases often do not require any type of a down payment. All you usually have to pay is the first month’s payment, a security deposit, the acquisition fee and other fees and taxes. But, as with a purchase, if you want to lower your monthly payments you can always pay more upfront.

Future Value

In most leases you don’t end up owning it so you don’t end up selling it. That’s the financial institution’s job. Although you may have mileage limits and wear and tear guidelines that, if you exceed them, could cost you extra money when you turn your vehicle back in.

End of Payments

Most people return the vehicle at the end of the lease term. But some like to purchase it during their lease or at the end. Others like to trade it in before their lease is over. Just ask us about these different options before signing any paperwork and we’ll make sure you have your lease set up the way you want it.

 

 

 

Are You Approaching The End of Your Lease?

Now that your lease is almost up, you may be wondering what's next. It's a good idea to start thinking about your lease-end choices, especially if you have 6 months or less remaining in your lease. At Spring Branch Honda, we can assist you in making the decision that's right for you.

You have a few options to choose from

Option 1: Return your leased Honda and buy or lease a new Honda

Option 2: Return your leased Honda to us even if you didn't lease it here

Option 3: Purchase your leased Honda

Option 1: Return your leased Honda and buy or lease a new Honda

This option is convenient, easy, and best of all, you get to drive off in a brand new Honda! We'll be happy to show you the latest moels and discuss your options. You will need to schedule a free vehicle inspection during the last two months of your lease. Simply email us for more information.

Option 2: Return your leased Honda to us even if you didn't lease it here

If you select this option, your lease concludes when you turn in your Honda to us. You will need to schedule a free vehicle inspection during the last two months of your lease. You will be responsible for any outstanding payments, excess wear and use, excessive miles, and any other end-of-term obligations specified in your lease agreement. We make it simple, just visit us and we can take care of all the necessary paperwork.

Option 3: Purchase your leased Honda

Buying your leased Honda is a great way to continue benefiting from its reliability, performance, and high resale value. If you decide to buy your vehicle, there is no need to have it inspected, since there are no excess wear and use or excess mileage changes to worry about. Low financing rates and extended protection plans are available for lessees who wish to purchase a leased vehicle.

For any questions call Kevin Cotton at 1-877-996-3075 or email at KCotton@penskeautomotive.com
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Spring Branch Honda

10250 Katy Freeway
Houston, TX 77043
Sales: 855-996-3075
Service: 855-996-3074
Parts: 713-464-6205

Hours of Operation

Monday: 9 a.m. - 9 p.m.
Tuesday: 9 a.m. - 9 p.m.
Wednesday: 9 a.m. - 9 p.m.
Thursday: 9 a.m. - 9 p.m.
Friday: 9 a.m. - 9 p.m.
Saturday: 9 a.m. - 9 p.m.
Sunday: Closed - Online 24/7

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