Review this helpful checklist to see if leasing your next vehicle is right for you:
- Leasing a new vehicle at a comparable price to purchasing a pre-owned vehicle is appealing
- I may be able to include more add-on options in my lease vehicle than I might be able to afford if purchasing it
- I prefer a lower biweekly or monthly payment
- I like to drive the latest model every few years
- I drive a predictable amount of kilometers every year every few years
Leasing offers affordable payments with shorter terms and allows you to:
- Consider vehicles that have more options
- Trade-in your vehicle for the latest model more frequently
- Have peace of mind since most lease terms are within the factory warranty period
Frequently Asked – Vehicle Leasing Questions
What are the benefits of leasing?
- With a lease, payments may be lower than purchasing the same vehicle, since you only pay for the portion of the vehicle you use over the term of the lease. Consider vehicles that have more options; trade-in your vehicle for the latest model more frequently; align the lease term to the vehicle warranty period for greater peace of mind.
Does leasing require less money upfront?
- Down payments are not always required on a lease. In a lease situation, you may choose to make a down payment in order to reduce the monthly payments. Down payments on leases cannot exceed 30% of the total lease price.
With a lease, am I protected from possible negative equity?
- With a lease, you avoid the potential risk that your vehicle’s value has declined beyond its projected residual value at the end of your lease term.
What happens at the end of a lease?
- At the end of the term, you have the option to purchase the vehicle or turn it in, subject to the terms outlined in your lease agreement. Honda Financial Services will communicate with you prior to the end of your lease to guide you through the end of lease process.
Am I responsible for wear and tear charges?
- If you are returning your vehicle at the lease end, your vehicle will be inspected by an independent company to determine if there is any chargeable damage. Chargeable damage can include: dents, paint damage, missing equipment cracked or chipped glass, mechanical damage, holes, tears or burns to upholstery. You are responsible for either repairing identified damage to acceptable standards prior to returning the vehicle or paying the amount indicated on the inspection report plus applicable taxes.
Is leasing right for me?
- Leasing may not be for everyone, but for many, it’s the right fit! This information is for general information purposes only. For specific limitations, rules and restrictions on any specific financing, contact Carter Honda today.
Looking to acquire a new vehicle without the responsibility of ownership? Great! Speak with one of our friendly specialists to learn how Carter Honda in Vancouver can help you drive the vehicle you deserve (no obligation) CALL NOW! (604) 256-1359