Stratford Honda Car Lease Program
Don’t forget to check out our Finance Specials for the latest Stratford car lease deals and sales on other financing products. If you’re ready to take it to the next step, then fill out our no-obligation credit application to get pre-approved today with the Stratford Honda Car Lease program!
Leasing Vs. Financing: What’s Right For Me?
When choosing between leasing and financing a car, there are a number of points to consider. While monthly payments for leasing will generally be less than for financing on the same vehicle, you don’t have the benefit of owning the vehicle once your contract is complete. Here is a comprehensive list of some of the benefits and considerations to leasing a car as opposed to financing:
Benefits of Leasing a Honda
- Drive a new vehicle more often – it’s easy to upgrade to a newer model when your term is up, and with lower monthly payments you can afford it.
- Lower monthly payments than financing on a similar vehicle: you are left with more cash on hand to invest.
- You have choices: you can purchase your leased vehicle at the end of your contract or return it with no further obligation of you have not exceeded your kilometer allotments and there is not excess wear or tear on the vehicle.
- No hidden fees: When you lease a Honda, there are no hidden administration, early termination, vehicle disposal or end-of-lease fees.
- GAP (Guaranteed Asset Protection): If your leased vehicle is ever written off due to an accident, vandalism or theft and your insurance settlement does not meet your monetary obligation, the Future Value Lease program provides protection. The difference or gap between the settlement (less deductible) and your lease obligation will be automatically covered. See Stratford Honda for details.
- Flexible terms: Ask us about our special fleet lease options for businesses
- Insurance coverage: Required insurance coverage is generally the lessee’s responsibility as per conditions detailed in the lease agreement.
- Lease down payment: While not required on a lease, down payments can be made to reduce monthly payments. A down payment cannot exceed 30% of the total price of a lease.
- First monthly payment due at delivery: the first monthly payment is generally required on the delivery of the vehicle as well as a refundable security deposit and any other fees.
- Maintenance is the lessee’s responsibility: The holder of a lease is responsible for maintaining the vehicle as outlined in the maintenance schedule detailed in the owner’s manual.
- There may be charges for excessive wear and tear: damage to the interior, exterior and other components of your vehicle at the time of lease-end.
- Kilometer allotment: The standard yearly allowance for kilometers for leased Hondas is 24,000 km. You can purchase additional kilometers as part of your initial lease agreement.