There is no better feeling than getting handed that brand-new set of keys to your new ride. At Ottawa Honda, we’re pleased to offer some of the best leasing rates on new Hondas. If you’re in the market for a new vehicle and are looking for a cost-effective way to get your hands on your dream car, a car lease with fixed-term payments might be the solution for you. The best part is once your term has matured you will have the choice of either returning your Honda, purchasing it outright, or trading it in for a brand-new model.
Lower Monthly Payments
When you lease a vehicle you can enjoy lower monthly payments compared to financing. Car lease agreements also come with low or no down payment options, allowing you to drive around in a new car at a smaller expense. When you lease a car, you have guaranteed residual value, so you can simply walk away from your vehicle without any obligation to purchase if that residual value is higher than the market value of the vehicle.
No Long-Term Commitment
Buying a vehicle is a big commitment. If you’re not ready to make a long-term commitment to a vehicle, leasing is a good option for you. Unlike financing a vehicle, most lease terms only require you to commit to a vehicle for two to five years. This gives you the ability to adapt to a lifestyle change with ease. Once the term is over, you can either trade it in for a new vehicle, buy it or simply walk away. As an added perk, if you are trading in your leased car for the newest model, you get the joy of driving a new car every few years with the newest in safety features and technology — the option is yours. You can also take advantage of the Honda Canada Finance 1% loyalty rate reduction as a current leasee.
A Car Lease Offers Several Coverage Options
Today, Honda offers a number of additional coverage options for lease agreements. The Lease Guard option, for instance, will cover any wear and tear up to $1,000 per single event and up to $7,500 of coverage for stains, dents, and dings over the term. You can also get total loss protection through the Honda Plus Gap Protection plan that is designed to cover any shortfall between your insurance settlement and what is owed on your lease or loan.
Lower Repair Costs
Leasing vehicles can cost you less in repairs over time. Since the car will always be new and you’ll be driving it during its most trouble-free years, it will usually cost less to repair than a vehicle you hold onto for years.
A car lease is more affordable in the short-term but it’s always wise to weigh the pros and cons before making a decision. Come visit us at Ottawa Honda and we’ll walk you through all the options available to you so you can get into a new car faster.