Lease & Finance

Frequently Asked Questions

Lease Options

What are the benefits of leasing?
  • 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.
  • Lower taxes
What is a Closed End Lease?

A closed end lease means there is a set number of payments that you agree to make over the term of your lease and the leasing company determines the price or lease end value of your vehicle at the end of the term. At the completion of the lease, you can choose to purchase the vehicle for the 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 kilometre limit, that any outstanding fines have been paid, and there is no excess wear and tear on the vehicle.

Are there any administration fees?
No Fees

Honda Financial Services has no administration, early termination, end of lease or vehicle disposal fees.

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 contractual 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.

What is Leasing?

If you enjoy driving a new vehicle every two to four years, want lower monthly payments, protected under warranty, drive an average number of kilometres, and can properly maintain your vehicle, then you should consider lease as an option.

As a lease customer, you pay only a portion of a vehicle's cost, which is the part that you "use up" during the time you're driving it and you pay taxes only your monthly payments vs. the full vehicle price. Signing a leasing contract means that you agree to make regular monthly payments, keep appropriate insurance, pay any vehicle taxes and licensing fees, and take good care of the vehicle for the duration of your contract.