Honda EV Leasing vs. Buying Explained: A Complete Guide for New EV Shoppers 

Switching to a Honda electric vehicle (EV) is an exciting step, but it comes with an important decision: Should you lease or purchase your Honda EV? Both options have unique advantages depending on your budget, driving habits, and lifestyle. 

At Jay Honda in Bedford, Ohio, we know this choice isn’t always simple. That’s why we’ve put together a detailed guide comparing Honda EV leases and purchases. By the end, you’ll understand the pros, cons, and key differences—so you can confidently decide what works best for you. 

What Does It Mean to Lease a Honda EV? 

Leasing a Honda EV s like renting your car for a set amount of time, usually 24 to 36 months. During that period, you’ll pay a fixed monthly rate and agree to certain mileage limits. When the lease ends, you simply return the car, upgrade to a newer model, or buy it out if you’d like to keep it. 

Benefits of Leasing a Honda EV 

• Lower Monthly Payments – Leasing usually offers lower monthly costs compared to buying, which can make driving a new EV more affordable. 
• Latest Technology Every Few Years – As EV technology evolves quickly, leasing ensures you’re always driving a Honda with the newest features, from infotainment systems to advanced driver-assist tools. 
• Warranty & Maintenance Coverage – Most Honda leases include warranty protection and may cover routine maintenance, giving you peace of mind. 
• Flexibility – Leasing is a great choice if you prefer short-term commitments or think your needs might change in a few years. 

Things to Consider Before Leasing 

• Mileage Restrictions – Most leases limit mileage, often around 10,000–12,000 miles per year. Going over can result in fees. 
• Wear-and-Tear Charges – You’re responsible for keeping the vehicle in good condition. 
• No Long-Term Equity – At the end of the lease, you don’t own the car unless you decide to buy it. 

What Does It Mean to Purchase a Honda EV? 

Purchasing a Honda EV means you’re financing or paying in full to own the vehicle outright. Once the loan is paid off, the car is fully yours, and you’re free to drive it for as many years and miles as you like. 

Benefits of Purchasing a Honda EV 

• Ownership & Equity – You’re building long-term value with every payment. 
• Unlimited Mileage – Drive as much as you want without worrying about penalties. 
• Long-Term Cost Savings – While monthly payments may be higher at first, owning your Honda EV outright means years of payment-free driving after the loan is complete. 
• Freedom to Customize – Want accessories, upgrades, or customizations? Ownership gives you total flexibility. 

Things to Consider Before Buying 

• Higher Monthly Payments – Financing a purchase usually costs more per month compared to leasing. 
• Depreciation – Like all vehicles, EVs can lose value over time, though Hondas typically hold strong resale value. 
• Maintenance Responsibility – After your warranty expires, long-term maintenance is fully your responsibility. 

Lease vs. Purchase: Side-by-Side Comparison 

Here’s a quick breakdown of how leasing and buying a Honda EV compare: 

Which Option Fits Your Lifestyle? 

Still unsure whether to lease or buy? Here are some lifestyle-based scenarios that might help: 

Leasing a Honda EV may be right for you if… 

• You want lower monthly payments. 
• You like driving the newest technology every few years. 
• You don’t drive excessive miles annually. 
• You prefer not to worry about long-term maintenance. 

Purchasing a Honda EV may be right for you if… 

• You plan to keep your vehicle long-term. 
• You drive frequently and don’t want mileage limits. 
• You like the idea of owning an asset that holds value. 
• You want full control over customizations and usage. 

Honda EVs Available at Jay Honda 

Honda is expanding its lineup of electric vehicles, starting with the Honda Prologue SUV, which offers advanced technology, smooth performance, and everyday practicality. Whether you’re looking for a short-term lease or a long-term ownership experience, Jay Honda has flexible options to meet your needs. 

Our finance team will walk you through: 

• Current Honda EV lease specials 
• Financing options for purchase 
• Trade-in values for your current vehicle 

That way, you can make a fully informed decision. 

Final Thoughts 

Leasing vs. purchasing a Honda EV comes down to how you drive, your budget, and your long-term goals. Leasing offers lower monthly payments, frequent upgrades, and flexibility. Purchasing builds equity, removes mileage restrictions, and provides lasting value. 

At Jay Honda in Bedford, OH, we’re here to help you weigh both options and choose the best path forward. Whether you want the flexibility of a lease or the long-term benefits of ownership, your next Honda EV is waiting. 

📍 Visit Jay Honda today to explore our Honda EV lease and purchase offers—or schedule a test drive to experience the future of driving.