There has never been a better time to lease a new vehicle. Many people have come to us with one of five negative things to say about leasing 1. Its Cheaper To Pay Cash 2. Leasing Costs more than Financing 3. There are hidden fees on a lease 4. The excess mileage charges are outrageous 5 Leasing Is Bad. We are here to tell you that these things are all myths. They could not be farther from the truth and I am issuing this post here to discuss some of these popular opinions and show that leasing a Honda can be a great move.
Pa Honda Lease
The Honda lease is an excellent opportunity to get yourself in a brand new vehicle every three years. The Honda brand has high residual values. This means that your new Honda will not depreciate very greatly over time and that the cost of ownership for you will be less. Lets take the 2010 Accord Crosstour. Lease vs. Financing. Head to Head. If you were to finance $34,628 at 3.99% your payment would end up being $585 per month and after three years you would have paid off $21,067 the remainder you would have left would be $16,152. Your approximate trade in value (65%) would be $20,000 and you would have a total equity of $3,847! So, the amount you have paid $21,067 minus your equity $3,847 means that you would have paid $17,220 to drive that car for the three years. Now lets take a look at leasing. We will guarantee that your leased vehicle will be worth a number three years after you own it! So lets say for this Crosstour that number is $21,533 which at this time that is exactly what it would be. Your lease payment for those three years would have been $429 and you would have made a total of $15,462. You would save $1,758. It works out like this on many occasions.
To those that say they want to own their vehicle let me ask you, how often do you see your title while its at the bank being held? Only 19% of customers who start in to finance a vehicle really end up paying off that car fully. This makes most deals like leases. The customer never actually has the title but is making payments just like a lease.
There is no limit to the number of miles you can drive your leased vehicle. Honda meets and exceeds the industry standards for low extra mileage payments. If scheduled before hand your miles over 45k miles in 3 years cost only 10 cents! This is up to 100,000 miles. You can work this into the payment and it will guarantee the price that you pay for that vehicle over the three years that you own it. If you take the example of a 2007 Honda Accord EX-L 4 Cyl. the KBB on it with 45,000 miles is $12,475 and the KBB on it with 90,000 miles is $7,550. If you calculate that out the difference comes to 11 cents a mile. The 10 cents a mile over is the most fair unit of measurement Honda could have put on this great deal.
It gets even better! Honda has the exclusive Wear and Use Waiver! Honda will give you up to $1500 to fix the car that you bring back to us before you have to pay a wear and use penalty. The Honda franchise is the only franchise that offers you this grace room. So don’t sweat the small stuff! Come lease a Honda Today!
See why websites like consumer reports, kiplinger, and even edmunds.com think its a good idea to lease a new vehicle.
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