Is it better to lease or buy a car?
It depends. Leases and loans are simply two different methods of
automotive financing. One finances the use of a vehicle; the other
finances the total cost of a vehicle. Each has its own benefits and
drawbacks. It's not possible to simply say that one is always better
than the other because it depends on your own particular situation and
preferences. You must not only look at the financial comparisons but
also at your own personal priorities and what's important to you.
Do
you like driving a new car every two or three years, prefer lower
monthly payments, or drive under 10,000 miles per year? Leasing might be
the best option.
Do you like to keep your car for longer than
three years, drive more than 10,000 miles per year, or enjoy modifying
or customizing your car? You should probably consider purchasing your
next vehicle.
Lease vs. Buy
Can I trade in my car that's not paid off?
In a word: yes. Trading in a financed vehicle is very common. There are a few things to still be aware of though.
If
you are underwater with your current loan (you owe more than your car
is worth), the negative equity will be added to the new loan.
If you are not underwater, the remaining loan balance will simply be deducted from the value of your trade-in.
In
both cases, we will take care of paying off the lien holder and getting
the title for your vehicle. This is one less thing you have to worry
about when you trade in your car with us, versus selling it privately.
In fact, we will even buy your car from you regardless if you buy a
vehicle from us!
Learn More
How much should a car down payment be?
It is recommended to put at least 10% down on the purchase of a new
or pre-owned vehicle, but as little as $500 can be sufficient in many
cases. There is no harm in putting down as much as possible though, and
we would suggest aiming for putting down around 20% to help lower your
monthly payments.
You don't necessarily need to have this cash on
hand though. If you are trading in a vehicle, the value of your trade-in
will help cover most of, if not all, of your down payment.
If you
are interested in having the lowest possible down payment, taking
advantage of our low or no money down lease specials may be your best
option. Check out our current lease offers today or contact us for more
information.
View Special Offers
Can I finance a used car?
Absolutely! We offer financing on all of our vehicles, both new and
pre-owned. In fact, banks typically see lending through a dealership
like us as less risky compared to lending to a private party. So when
you finance a pre-owned vehicle through us, not only are you are more
likely to get approved, you will probably get better loan terms too.
Get pre-approved for pre-owned vehicle financing today with our online finance application, then be sure to check out our complete selection of pre-owned cars, trucks, and SUVs for sale near you!
View Pre-Owned Inventory
Can I get a car loan with bad credit?
Yes! Thanks to our worry-free financing, we are able to offer new and
pre-owned vehicle financing to almost everyone, regardless of your
current credit situation! Chances are we can find a lender and a
financing plan that works for you.
In fact, you can even apply for
a car loan from the comfort of your own home today with our fast and
secure online finance application. If you have any questions, feel free
to give us a call to speak with one of our knowledgeable finance team
members. We are dedicated to getting you behind the wheel of a new or
pre-owned vehicle regardless of your credit score.
![[Dealership
Name]](http://pictures.dealer.com/a/autonationhondacostamesa/1548/634ddd6aee11f5679fd4de61bf19bef3x.jpg "AutoNation Honda Costa Mesa")
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