Why lease a honda

Flexibility at the end of the term: After the lease term ends, you have options available to you, whether you want to return the vehicle, buy or lease a different Honda model, or buy the vehicle for the agreed-upon purchase price. Drive a vehicle in its prime: You get to drive a brand-new model with the latest features for a set period. Less cash needed when signing: One major advantage of leasing is that you rarely have to provide a large down payment.

Most states also allow lessees to pay the sales tax on a vehicle as part of the monthly payment instead of up front when signing the contract. Lower payment: When comparing leasing and financing with the same period and similar terms, the monthly payment on a lease will typically be lower because the payment is based on the vehicle's estimated depreciation, rather than its total value. A lease allows you to contract to use part of the value instead of the full value of the car.

New car more frequently: If you opt for a short-term lease, you can get newer models more frequently. This is also beneficial if your situation changes and you need a larger vehicle to accommodate a growing family or a more efficient vehicle for a longer commute. Tax benefits for business drivers: If you use your vehicle for business purposes, you might be eligible for more substantial tax deductions if you lease instead of finance it.

If you want to take advantage of this benefit, talk to your business tax advisor. Benefits of Financing Financing a vehicle has benefits of its own: Get the most value: If you're a driver who tends to keep the same vehicle for five or 10 years or longer, going through a traditional financing option is likely a better choice.

Honda Financial Services provides both leasing and financing options to buyers. Equity: Every payment you make toward the loan can increase your ownership equity in the vehicle. After you pay off the total value of the car, you can get even more from your investment, depending on the current market value of the model you drive and how well you care for it.

No mileage restrictions: If you typically driver over 12,, miles in a year, having a restriction under a lease contract could cost you more. A financing agreement won't have any restrictions on the miles you can drive. Customize your vehicle: When you're financing a car, you can change the exterior or interior to fit your personality and style, although any major changes you make could impact its value if you plan to sell it in the future.

Drive New Every Two Years — Compared to the typical five-year financing terms, a Honda lease gives you the flexibility to drive a new vehicle every two years, which ultimately saves you money on maintenance and repairs. You are only responsible for paying unpaid fees and your insurance deductible.

One-Payment Leasing — You can pay any or all monthly Honda lease payments at a discounted rate. Paying in full gives you the option to purchase the vehicle at any time during the lease terms.

Preferred Payment Plans — This complimentary plan allows you to deduct monthly payments from your checking account automatically. During those two years or from 0 to 30k miles , cars carry little risk of mechanical failure. After two years between and 60, miles , you might have to invest time and money into new tires, brakes, engine work, etc. Most interest on auto loans is collected by banks within the first two years of the contract, making leasing more affordable in this timespan.

We not only cater to first-time buyers with less than perfect credit scores, but we can also help drivers with pristine ratings secure competitive loan terms that provide a little extra assistance when it comes time to make those monthly payments. Speak with one of our Honda finance professionals today to learn more about the car loan options that are available to your unique situation.

Our new and used Honda dealership near Cleveland, Ohio is eager to help you finance that Honda CR-V you've had your eye on, so send over a completed credit application via our website now! If you would like some personalized attention, drop by our finance department in North Olmsted, Ohio now.

One of our team members will happily sit down with you to review the steps involved in the application process and help you complete the form.