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Lease vs Purchase Vancouver

At Carter Honda, we understand whether it’s a SedanSUVPlug-in HybridCommercial Truck or Van, with the correct vehicle lease with Honda Financial Services, you’re afforded plenty of options. And, with a lease from Carter Honda in Vancouver, you’re not as constrained by the overall price of the vehicle as you would be when buying, because you only pay for what you use.

Compare and decide if purchasing or leasing your next vehicle works best for you:

Overview Vehicle Lease Vehicle Purchase
  • Vehicle Ownership
At the end of term, you have the option to purchase the vehicle or turn it in and lease a new vehicle, subject to the terms outlined in your lease agreement. Vehicle is titled in your name, and you own the vehicle free and clear after the terms of your purchase finance agreement are fulfilled.
  • Down Payment
The down payment amount for leasing a vehicle varies based on the lease transaction structure and monthly payment you desire, but generally, may be lower than buying. In some cases, the down payment amount needed for buying may be higher compared to leasing.
  • Kilometer Limits
Kilometer limits apply as agreed upon in your lease agreement. (Charges may be applied if kilometer limits are exceeded). No contractual limits on kilometer. (Vehicle value generally declines with more kilometer).
  • Maintenance and Wear
Generally, you are required to service the vehicle according to Honda’s recommendations and may not make any changes to the vehicle’s appearance, per the lease agreement. You can change the appearance of your vehicle, and select which repairs to make, subject to the terms of the purchase finance agreement.
  • Monthly Payments
Monthly payments may be lower than purchasing the same vehicle, since you only pay for the value of the vehicle during the term of the lease. Monthly payments may be higher than leasing payments on the same type of vehicle, and the vehicle is paid over the term of the contract.

Looking to acquire a vehicle without the responsibility of ownership?

We’re committed to providing an unrivaled vehicle purchasing experience while providing our customer’s with an unparalleled level of service, superior vehicle selection and the affordability.

Our trained credit specialists work alongside numerous financial institutions to provide you with the most favourable terms and re-payment options – best suited to your circumstances! Learn more about our Fast Approvals and 99% Acceptance Rates (no matter your current credit status!) or complete our quick and easy credit application today!

Questions? Great! We’ve got answers! To learn more about our ‘easy car loan application process’ and ‘tailored credit services’ (including our credit re-building program), please call us directly to speak with one of our friendly, credit specialists (no obligation) at: (604) 256-1359