Understanding Honda Leases

You can get the Honda model you want without spending a lot of money with Honda lease. Visit the financial services provider of Honda to learn more about leasing a vehicle.

Honda Leadership Leasing

Honda Financial Services is the best way to get into a brand-new Honda car, truck, or SUV. Honda Leadership Leasing offers a variety of options, including flexibility, flexible terms, and competitive rates, for those considering leasing a vehicle. Excessive Wear-and-Use and Damage waivers are also included for vehicles leased through the program, as well as Guaranteed Asset Protection (GAP). As Honda Financial Services reports, these additional protections allow you to enjoy driving rather than worry about whether your vehicle is covered.

Lease or Finance

When deciding whether to lease or finance your next car, you should consider all the important factors. Ultimately, buyers determine what they can afford to pay each month based on the length of time they drive their vehicles.

Leases are a good choice for people who purchase new cars every two or three years and upgrade to a newer model. Leasing is also an option for buyers who prefer lower monthly payments on a new model. Business customers may be able to take advantage of certain tax advantages through leasing. Finance might make more sense if you plan on driving your car for five to 10 years or want to drive without a mileage limit.

Benefits of Leasing New Vehicles

There are several advantages to leasing a vehicle:

  • More options, minimal worries: Honda offers a variety of lease options that ensure the lease fits your financial and lifestyle needs when leasing a new model.
  • Flexible terms: Edmunds states that you can pick the terms that work for you, such as a contract term of 24 to 60 months or One-Payment Leasing, which eliminates monthly payments altogether.
  • Different mileage allowances: Decide which allowance best suits your driving habits. There are two mileage options: 12,000 and 15,000 per year. If you drive more than 12,000 miles per year, you can purchase additional miles when you sign the agreement.
  • GAP coverage included: As part of the Honda Leadership Leasing program, the Guaranteed Asset Protection coverage covers the difference between the outstanding value of the vehicle and what you pay in insurance installments. You would be protected financially if the vehicle is deemed a total loss or stolen. Auto leases under Honda’s program include this protection.
  • Waiver of excessive wear and tear: A $500 Excessive Wear-and-Use or Damage Waiver is also included in every Honda Leadership Leasing lease. Your turn-in fee may also be waived if you remain loyal to Honda and lease or buy another vehicle.
  • Guaranteed price: A locked-in end-of-lease purchase price will be provided by Honda Leadership Leasing when you sign your lease agreement. The guaranteed price protects you against market fluctuations.
  • The lease has flexibility when it ends: You have a variety of options after the lease term is over, including returning the vehicle, buying or leasing another Honda model, or purchasing the vehicle at the agreed-upon price.
  • Experience a vehicle in its prime: You get to drive a brand-new model equipped with the latest features for a set period of time. Also included in Honda’s leasing program are eligible Honda Certified Pre-Owned vehicles.
  • Signing requires less cash: Leasing has the advantage of requiring little or no down payment. In most states, the sales tax on a vehicle can also be added to the monthly payment instead of being paid in advance.
  • Payments are lower: Compared to financing with the same period and similar terms, leasing typically has a lower monthly payment since the payment is based on the vehicle’s estimated depreciation rather than its total value. Leasing allows you to use a portion of the car’s value rather than its full value.
  • New car more frequently: You can get newer models more frequently when you lease for a short time. It can also be useful if your circumstances change and you need a larger vehicle for a growing family or a more fuel-efficient vehicle for a long commute.
  • Business drivers can benefit from tax benefits: If you use your vehicle for business purposes, leasing instead of financing could provide you with a more substantial tax deduction. Speak to your business tax advisor if you are interested in taking advantage of this benefit.