Frequently Asked Questions

Things To Be Considered

Do I have to insure the vehicle?

Insurance Responsibility

You are responsible for insurance coverage. Required coverage typically is detailed in your lease agreement.

Is a down payment required?

Lease Down Payments

Down payments are not required on a lease. In a lease situation, you may choose to make a down payment in order to reduce the monthly lease payments. Down payments on leases cannot exceed 30% of the Total Lease Price.

What is due at the time of picking up the vehicle?

Cash Due At Delivery

Most lease agreements require a first monthly payment on delivery of the vehicle, a refundable security deposit and other miscellaneous fees.

Am I responsible for maintenance?

Maintenance Responsibility

You are responsible for maintaining the automobile. A maintenance schedule is outlined in the owner's manual.

Am I responsible for wear and tear charges?

Excessive Wear and Tear

If you are returning your vehicle at 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.

How many kilometers can I drive?

Allowable Kilometers

The yearly kilometer allowance with HFS is 24,000. At lease inception, you can purchase additional kilometers.

What is the total vehicle price?

Leased Vehicle Price (Total Vehicle Price)

Gives you the transaction price and is also used to calculate your lease payment. While taxes are not included in this price, it does include all equipment, accessories, freight and dealership fees.

What is the total cost of the transaction?

Total Cost of Lease Transaction

The total cost of lease is the total monthly payments plus any amounts paid to reduce the cost of the vehicle ie: cash down payment, vehicle trade-in plus applicable taxes, vehicle licensing and registration fees.

What are the lease rate charges?

Lease Rate Charges

The lease rate and associated charges are disclosed on our full disclosure contract.