Many things should be considered when deciding how you will pay for your new Honda vehicle. With a Honda Lease through Honda Financial Services you can drive a new vehicle more often, usually with less money down and a lower monthly payment than with traditional financing.
Leasing will give you more options. At lease-end you can renew your current lease, purchase your Honda, or lease or purchase a new Honda, the choice is yours. Check out a few of our Current Honda Lease specials going on now.
LEASE your Honda if....
- You want to drive a new Honda, but want the freedom to decide later whether you want to buy it, drive it longer, or drive a new Honda.
- You want options when it comes to choosing your mileage.
- You want to drive a new Honda every few years and take advantage of improved fuel economy, technology and safety features.
- You want low up-front costs with low monthly payments.
- You want a guaranteed purchase price should you decide to purchase or sell your Honda once your lease term is up.
What is The Honda Lease Advantage?
Honda offers a complete package of convenience, savings and benefits. In particular, the Honda Lease Program provides several advantages that are not always available from other Lease Companies.
- Low up-front costs.
- No disposition fee
- No purchase-option fee
- You automatically receive a $1,500 Excessive Wear and Use Waiver.
- You can save thousands of dollars in unexpected costs because Gap Coverage is automatically included at no additional charge. If you vehicle is stolen or deemed a total loss due to an accident, GAP covers the difference between what you owe on your lease and what your insurance pays.
- Low-mileage option.
- Option to purchase additiona mileage for just .10cents per mile.
- You can choose lease terms from 24 to 48 months.
- Possible lower monthly payments.
- Opportunity to drive new Honda vehicles more often.
- Option to purchase additional Honda Care Vehicle Service Protection
*Except for damage caused by any single event which exceeds $500. Applies to lease contracts dated June 7, 2001 and later.
Leasing Frequently Asked Questions:
I drive too many miles, does that mean I shouldn't lease?
Not at all. Many drivers forget that racking up high mileage on a car they own carries a cost. The difference is that when you buy, you realize the loss as a lower trade-in value. With a lease, you can buy more miles upfront at a cheaper cost and spread the cost over the term of the lease, pay out of pocket at a set cost per mileage at the end of your lease term or trade the car.
I want to own my car.
Only 19% of 60 month finance loan customers make the 60th payment. If you trade before you pay off the loan, you have leased but without the benefits.
Glossary of Terms:
This is the decline in value of a vehicle over the term of a lease
The value of your vehicle, minus the total amount owed on it.
Although you may intend to keep a vehicle for the full term of a lease, an accident or theft could cause early termination. Most auto insurance policies pay the average market value of the car, which may be considerably less than the remaining lease obligation or payoff. Leases from Honda Financial Services include "gap" protection to cover this difference in the event of such a loss. This is a very desirable feature to have in your lease. If you are using conventional Financing you may purchase gap assurance coverage for an additional fee.
Capitalized Cost Reduction:
Any payment that reduces the initial gross capitalized cost, thereby reducing the monthly payments. This can take the form of cash or net-trade-in balance.
Residual Value (a.k.a. Lease-End Value, Guaranteed Future Value)
The wholesale worth or projected value of a leased vehicle at the end of its lease term used in calculating the monthly payment. Agreed upon at lease inception.
Most common lease for consumers today. The balance is paid down to the lease-end value of the vehicle term. The customer is not responsible for the value of the vehicle at the end of the lease.
The party contracting to use the vehicle for a specified period of time under the lease agreement.
The party contracting to permit a lessee to use the vehicle under the specified terms of the lease contract. The dealer is the lessor and then assigns the lease to the lending institution.