Honda CR-Z Lease Medfield, MA
Should You Buy or Lease a Honda CR-Z in Medfield, MA?
The unfortunate truth is there is no clear right or wrong answer regarding whether to buy or lease a Honda CR-Z in Medfield, MA. Leasing is better for some people, and buying is better for others. The best thing you can do for yourself is to understand the differences between the two and how each benefits you. Then, you can decide whether you should lease or buy.
Quick Yes or No Questions
In deciding whether to lease or buy your next mode of transportation in Medfield, MA, there are a few yes or no questions you should ask yourself. The answers to these questions tend to sway you in one direction or the other. For starters, how many miles do you drive? Most lease contracts limit you to 10,000 or 12,000 miles per year. If you regularly exceed this mileage, you will incur extra charges for additional miles.
The next question you should ask yourself as you determine whether to lease or buy a Honda CR-Z is how long you usually keep a vehicle. Are you someone who grows sick of your vehicle every three or four years and wants something new? Or, are you someone who likes to keep a vehicle until you drive it into the ground? Someone who keeps a vehicle forever is a buyer. Someone who trades out their vehicles every three or four years would benefit from leasing.
Self-Employed Taxpayer Benefits
The decision to lease or buy a Honda CR-Z is extremely beneficial to a self-employed taxpayer. You can deduct all expenses related to the standard mileage rate. In addition to deducting business-related mileage, you can also deduct business-related tolls and parking fees. The only difference is you can switch from the standard mileage rate to how much you spend after the first year if you own a vehicle. If you lease a vehicle, you must continue to use the rate the entire time you have the vehicle.
Leasing vs. Buying
When you lease a Honda CR-Z, it is important to remember you are not the owner of the vehicle. Technically, the dealership is just letting you borrow the vehicle. However, it is common for someone to buy out their lease near the end of the contract. Some even like to pay the difference in the value of the vehicle after the lease contract ends, so you can own the vehicle. Most dealerships are happy to do this, as it is easier to sell it to you than to try to find someone else to buy it used.
When you decide to lease or buy a Honda CR-Z as your next mode of transportation in Medfield, MA, let Boch Honda help you get the best deal possible.