Does It Ever Make Sense to Buy the Car You're Leasing?

Many people lease again and again in a constant chain of new cars. It's a strategy that comes with many benefits for Pompton Plains drivers—you always have a fashionable new model with the latest Honda technology, and you may be rewarded for your loyalty by Honda Financial Services.

But let's say you want out. It's time to be a Honda owner, not just a lessee. Should you buy your current lease?

The Washington Post says that there are five times you should buy your leased car.

"If you like your car," writes Philip Reed of The Associated Press, "compare the buyout price to the retail price on Edmunds.com and Kelley Blue Book. If it's a fair deal, skip the dealership and send the lease company a check." He also recommends trying to negotiate for a lower buyout price than what's in the lease contract.

For some vehicles with high retained value, your lease buyout price may be far less than the market price—if that's the case for your Honda, you can actually come out ahead by buying.

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