Buy Vs. Lease

	Buying	Leasing
Ownership	You own the vehicle and get to keep it at the end of the financing term.	You do not own the vehicle. You get to use it but must return it at the end of the lease unless you choose to buy it.
Up-front Costs	Up-front costs include the cash price or a down payment, taxes, registration and other fees, and other charges.	Up-front costs may include the first month's payment, a refundable security deposit, a capitalized cost reduction (like a down payment), taxes, registration and other fees, and other charges.
Monthly Payments	Monthly loan payments are usually higher than monthly lease payments because you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, taxes, and fees.	Monthly lease payments are usually lower than monthly loan payments because you are paying only for the vehicle's depreciation during the lease term, plus rent charges (like interest), taxes, and fees.
Early Termination	You are responsible for any pay-off amount if you end the loan early.	You are responsible for any early termination charges if you end the lease early.
Future Value	You have the risk of the vehicle's market value when you trade or sell it.	The lessor has the risk of the future market value of the vehicle.
Mileage	You may drive as many miles as you want, but higher mileage will lower the vehicle's trade-in or resale value.	Most leases limit the number of miles you may drive (often 12,000-15,000 per year). You can negotiate a higher mileage limit and pay a higher monthly payment. You will likely have to pay charges for exceeding those limits if you return the vehicle.
Excessive Wear	There are no limits or charges for excessive wear to the vehicle, but excessive wear will lower the vehicle's trade-in or resale value.	Most leases limit wear to the vehicle during the lease term. You will likely have to pay extra charges for exceeding those limits if you return the vehicle.
End of Term	At the end of the loan term (typically 4-6 years), you have no further loan payments.	At the end of the lease (typically 2-4 years), you may have a new payment either to finance the purchase of the existing vehicle or to lease another vehicle.

Source: Federal Reserve Board

Get in Touch with the Finance Team at Tameron Honda Eastern Shore

If you're in need of competitive auto loans in Daphne or a Honda lease in Daphne, the expert finance team at Tameron Honda Eastern Shore is ready to help you out. Our many connections with banks and lenders around AL allow us to provide our customers with great rates on used cars in Daphne.

We feature a robust inventory of new and used vehicles in Daphne and we understand that it can be hard to fit a car into an already tight budget. We are used to working with a diverse range of customers across many different income levels, so we are confident in our ability to provide auto finance in Daphne.

At Tameron Honda Eastern Shore, we take a different approach to financing, choosing to sit down one-on-one with every customer to examine their needs and determine the best possible fit. And no matter if you are looking for short-term leases or car loans in Daphne, our passionate team will approach your situation with the same level of enthusiasm every time.

For our more environmentally conscious customers, you can get a great loan or lease rate on hybrid cars in Daphne. At Tameron Honda Eastern Shore, we are big believers in the idea that green cars in Daphne are the future of our automotive industry, so come on out to the dealership and test drive one today.

Additionally, Tameron Honda Eastern Shore employs an expert team of factory certified technicians that will service your vehicle whenever you need it. We aim to go above and beyond for all our customers, which is why we offer such a comprehensive suite of services.

If you have any other questions, don't hesitate to give us a call or stop by the dealership. We also encourage you to read all about us, and how we conduct our business on a daily basis. We look forward to seeing you at the dealership.