Are you in the middle of a car search in the Farmington Hills area, but still haven't decided whether to buy or lease your ideal model? By confiding in our finance experts at Suburban Honda, it can be easier than ever to determine which vehicle and financing method will work for you and your diverse array of needs. The choice between a monthly payment and annual percentage rate on a car loan doesn't have to be a difficult one; just keep in mind their respective benefits:

Benefit of a Lease:

  • Leasing allows greater flexibility while owning a vehicle. Since it’s easier to move out of the area once your lease period is over, you can easily plan to relocate around your lease.
  • You get to make a selection from the newer models of the car of your choice, with the ability to switch to another new vehicle after the end of your lease.
  • Since you're not owning the vehicle in full, your monthly payments are lower than the total that you would have to pay - making it easier to have a lease.

Benefits of a Loan:

  • Buying gives you the ability to customize your vehicle to your heart's content.
  • As the owner, you don't have to worry about sticking to a mileage budget - allowing you to drive for as many miles as you choose.
  • You can choose to sell or trade in your vehicle at any time. The quality of care that you put into it will determine its overall value, making it possible to claim a profit from the sale of your car.

If you're in need of more advice before making your final decision, then stop in for a visit with our staff at 25100 Haggerty Road!

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