If you are considering the purchase of a new or certified used Honda or Acura, there are many good reasons that make a Honda or Acura lease a smart decision. You can drive a new vehicle more often, usually with less money down and a lower monthly payment than with traditional financing. Then, at the end of your Acura or Honda lease, you have several options to choose from. How the Honda or Acura Lease Works
When you lease a new Honda or Acura automobile, you contract to use it for the first - and best - period of its life. Your monthly payment covers the depreciation of the vehicle, plus a service fee. That means that you pay only for the portion of the vehicle's worth that you are actually going to use. In a lease, your mileage is generally limited to 12,000 or 15,000 miles per year, although you can "buy" extra miles up front to save excess mileage charges at the end of your lease. Your monthly lease payment is calculated based on several factors, including the term of the lease, a service charge, the capitalized cost which is based, in part, on the purchase price, and the vehicle's projected residual value at the end of your lease. A capitalized cost reduction, similar to a down payment, can help reduce your monthly payment. To save time at the dealer, you can even apply for pre-approval online. Don't forget to check with your insurance agent to make sure you have sufficient coverage. Then What?
At the end of your lease, Honda and Acura offer a variety of choices. You can purchase the vehicle at a predetermined price and keep it, or just return the vehicle and take care of any end-of-term obligations. Best of all, you can return the vehicle and lease again. Our Leadership Leasing Loyalty™ program makes it easy and affordable to get right into another Honda or Acura at the end of your lease. Why Lease Through a Honda or Acura Dealer?
Leasing offers a complete package of convenience, savings, and benefits. In particular, the Acura Luxury Lease™ and Honda Leadership Lease™ programs provide several advantages that are not always available from other institutions:
- Generous mileage allowances
- Waiver of excess wear and use charges up to $1,500*
- No disposition fees
- Convenient online account access
- AHFC EasyPay automatic electronic bill payment
- Gap coverage included at no additional charge
*Except for damage caused by any single event which exceeds $500. Applies to lease contracts dated June 7, 2001 and later. With superior customer care and flexible terms, you can be assured that your account will receive the very best service and support. Automotive Options: Lease or Buy?
Is leasing right for you? Great question. If you typically drive 15,000 miles per year or less, then leasing may be your best option. Leasing requires less cash up front than buying. And because monthly payments are lower than with traditional financing, you may be able to afford to drive a higher-priced model by leasing.
