How Can I Afford a New Vehicle?
For many, the major challenge of affording a new
car is the total cost. Paying the full sum of a new car's sticker price is
simply not possible for most. Luckily, we have a couple of solutions to make it
easier. Auto loans and lease programs can make new cars more affordable by
breaking up the cost into monthly payments. This allows customers to pay off
their new vehicles bit by bit over time, rather than forcing them to pay all at
once. This often allows car buyers to access higher end models, as well.
Should I Lease or Loan a Car?
While the result is similar (paying monthly), loans
and leases have different functions.
The major difference is in ownership. With a loan,
you own the vehicle. You use a loan to pay for it, then make payments toward
the sum of the loan, plus any accrued interest. Our staff works with a variety
of lenders to help find a rate and monthly payment that fits your budget
constraints. You should look into a loan if you want long-term ownership of
your vehicle. With a loan, you can drive as many miles as you want and make any
modifications you would like.
A lease is essentially a long-term rental. You
don't own the car, but you get to use it for the allotted lease time. Lease
payments are typically lower than loan payments because you are only paying for
the car's depreciation over the lease period, not for the car's entire value.
But there are some restrictions. Leases typically include a mileage limit, and
you can't make modifications.
If you are looking for a new car around, Temecula,
Escondido, Hemet, Murrieta, or Perris, consider a loan or
lease through the finance center at DCH Honda of Temecula. We'll make sure to
find a finance solution that works for you.
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