Honda: Car Lease Options FAQs

What are the benefits of leasing?

Overview

Leasing is like renting, you only pay for what you use. Payments are based on the difference between the lease end value and the vehicle cost plus lease finance charges. Taxes will be included in the monthly payment rather than the full cost of the vehicle.

A New Car More Often

With lower monthly lease payments over a shorter period of time, you can drive a new vehicle more often.

Flexible Terms

Keep More Cash to Use or Invest

Low Monthly Payments

Lease payments are traditionally lower than retail payments on the same vehicle.

Is this an open or closed end lease?

Closed End Lease

At the completion of the lease, you can choose to purchase the vehicle for a pre-determined price shown on your lease contract plus applicable taxes or return it without further obligation. If you decide to return your car, all you have to do is make sure you have not exceeded your kilometer limit, that any outstanding fines have been paid, and there is no excess wear and tear on the vehicle.

What happens if my vehicle is written off or stolen?

Automatic Guaranteed Asset Protection (GAP)

If your leased vehicle is involved in an accident, vandalized or stolen the vehicle may have to be written off. To insurance companies a "write off" means fair market value minus your deductible. Your insurance settlement may not always satisfy your monetary obligation. Our Future Value Lease offers you protection against these situations. The monetary GAP between your insurance settlement less your deductible and your lease obligation is covered automatically by our GAP. Some conditions may apply. See your local dealer for details.