At Ray Price Honda, we often have drivers in the East Stroudsburg, Jim Thorpe, and Bethlehem areas ask about the advantages and disadvantages of leasing a car. In truth, there are quite a few, like regularly upgrading to the newest model and the potential for lower monthly payments.

If you're curious about the advantages and disadvantages of leasing a car in the Stroudsburg and Easton areas, we'll cover both in-depth here.

What Are the Advantages of Leasing a Car?

There are many advantages to leasing a car, which is why it's such a popular option for local drivers. In total, there are three main advantages:

  1. You get to drive a new car, more often

Leases usually last approximately three years, meaning that, every couple of years, you're trading in your current car for the newest model. This is a great way to frequently upgrade your car or try out multiple models over the course of several leases to find the one that sticks.

  1. You have the most up-to-date features

Since you're trading in your car every few years for a new model, this also means that the car you're driving is more likely to have the most up-to-date technology and safety features, plus the most in-vogue design elements.

  1. You may have lower payments

In general, monthly lease payments tend to be lower than you'd have if you bought the same car new. This is because you're not financing the entire cost of the car, just the expected depreciation over the term of your lease. Leases may also require less of a down payment, depending on the dealership.

Since you'll likely have lower payments, you can put that extra budget toward a trim upgrade or a cool feature, such as heated seats or remote start.

The best part is, if you love the car and don't want to give it up at the end of your lease, you don't have to! You can buy it out as a used car. Since you've already financed the first three years of the car's value, you'll simply be responsible for the remainder, and then it's yours to keep.

Disadvantages of Leasing a Car

While there are several advantages to leasing a car, there are a few disadvantages to consider as well. For one, your monthly payments won't result in ownership of the car, unless you buy it out at the end of your lease.

Those who lease may also experience a few restrictions, including mileage limits. They're often unable to trade in their car before the end of their lease, as well, without a penalty. Any excessive wear and tear may also result in a fee.

However, if you're responsible about staying up-to-date on your car's maintenance needs and keeping an eye on your mileage, leasing can be a great way to get behind the wheel of a new car.

Learn More About the Advantages and Disadvantages of Leasing

If you're curious about the advantages and disadvantages of leasing a car in the Jim Thorpe, Stroudsburg, and Easton areas, feel free to reach out to our finance team to discuss how leasing a car can fit into your lifestyle.

Contact Ray Price Honda, near East Stroudsburg and Bethlehem, to learn more today!

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Contact

Ray Price Honda

6310 Route 209
Directions Stroudsburg, PA 18360

  • Sales: (570)402-5000
  • Service: (570) 402-2660
  • Parts: (570) 402-2661

Hours

  • Monday 9:00AM - 8:00PM
  • Tuesday 9:00AM - 8:00PM
  • Wednesday 9:00AM - 8:00PM
  • Thursday 9:00AM - 8:00PM
  • Friday 9:00AM - 8:00PM
  • Saturday 9:00AM - 4:00PM
  • Sunday Closed