A Honda HR-V Lease: Everything You Need To Know
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The Honda HR-V is a popular Honda vehicle available on the market. It’s a subcompact crossover that’s great for any adventure you might have in mind. It’s just as comfy as it is fun to drive. If you’re looking into a Honda HR-V, you might wonder if a Honda HR-V lease is the right option for you.
Read on to learn more about the Honda HR-V and if it’s the right choice for you. It’s vital to compare leasing to buying when determining what you want to do. There’s a lot to know about leasing – both good and bad.
What is the Average Cost to Lease vs. Buy?
When you want to drive a Honda HR-V, there are two options you can choose between – leasing and buying. Each has a different price point and different benefits. It’s vital to compare the price of a Honda HR-V lease to the cost of purchasing one.
According to cars.usnews.com, the average costs to lease and buy include the following:
- To buy for three years: Around $560 a month
- To lease for three years: Around $289 a month
Of course, these prices can vary depending on the model you have and any additional agreements that come with the deal.
Most of the time, leasing will be the cheaper option for your wallet. However, this only applies if you intend to lease the car for a short period. A lease only grows in expense as time goes on, so shorter is better for your savings.
If you want to have a Honda HR-V for more than five years, buying might be the better option. Leasing can grow irrationally expensive if you take on the payments for more than a couple of years. Consider this issue before investing.
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Pros and Cons of Leasing the Honda HR-V
When determining if a Honda HR-V lease is right for you, there are both pros and cons to consider. Putting these side by side will allow you to see if a lease is the correct option for you and your current budget.
Below, we’ll discuss a few of the pros and cons that come with this lease. Read on to understand the good and the bad of this buying option.
Pros of Leasing the Honda HR-V
Many benefits can come with a Honda CR-V lease, but not everyone is aware of the good that comes with these. Any benefit can come in handy when you’re making a big purchase like a vehicle.
According to caranddriver.com, some of the best things that come with a Honda HR-V lease include:
- The choice to keep the car
- The low monthly payments
These two items may drive you towards deciding to lease a Honda HR-V rather than buying it.
We’ll discuss these pros further in-depth below. Keep reading to learn more about both of these excellent things that can come with leasing a Honda HR0V for yourself.
You Can Choose to Keep the Car
When you take on a Honda HR-V lease, you can go in with no intention to keep the car. However, if you have fallen in love by the end of the lease, you can always purchase it for yourself rather than turn it in.
If you like to take time with big decisions like this one, a Honda HR-V lease will allow you to test the vehicle and think it over before coming to a final decision.
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Monthly Payments are Lower
As demonstrated above, the monthly payments on a Honda HR-V lease are much lower than what you would be paying to buy the car for yourself. If you want to save money, this option is the way to go.
Of course, this choice only works for the short term. The longer you keep the lease, the more expensive it will be, as mentioned above. Consider how long you will keep your Honda HR-V for before you sign any papers.
Cons of Leasing the Honda HR-V
When there are pros, there are almost always cons that come with them. It’s the same for a vehicle lease. The negatives are just as vital to be familiar with as you go on your car investment journey.
According to pattypeckhonda.com, two cons that come with a Honda HR-V lease include:
- A decision is required for every lease
- No modification
These might negatively impact your car investment experience.
The negatives are critical to understanding so you can compare them with the good that comes with a Honda HR-V lease. Read on to learn more about what you should prepare for with this big choice.
You Need to Decide Every Time
When you buy a car, you have a vehicle that will last a while. You generally make one big decision, and then you’re all set for a few years. This ease doesn’t come with a Honda HR-V lease. Once your time is up, you’ll need to decide if you want to lease or buy your next car.
If you hate decision-making, this might drive you crazy. Consider this before you decide to invest in a Honda HR-V lease.
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No Modification Allowed on Your Vehicle
Because you have to turn your vehicle in at the end of your lease, you can’t make modifications. This limit means no customization, no altering tiles, and no adding extra features to the vehicle.
If you want to make the car yours, you might want to buy rather than lease. Modifications on a Honda HR-V lease can lead to expensive fees that may drain your bank account.
Conclusion
If you want to save money, a Honda HR-V lease is a great way to go. It costs much less per month than buying, and you can even choose to keep the car when all is said and done. It’s ideal for those who like to take their time to make decisions.
Although leasing isn’t for everyone, some may love the freedom that comes with this option. A Honda HR-V lease is a great way to dive into a reliable brand like Honda.
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