Lease or Buy?

Financing vs. Leasing Made Easy at Dalt's Honda

Our goal is always to exceed your expectations. This is true in all our departments, including our finance department where we want to do more than just offer you financing and leasing plans. We prefer an approach that is personalized to each customer and that is why we take the time to get to know you well.

Once we know your needs a little better, we can better advise you. This means that we can help you make more difficult decisions, such as choosing between financing and leasing. We can explain the differences between the two types of purchases, and help you choose the right option for you based on the use of the vehicle, the number of years you want to keep your vehicle, and several other determining factors.

More Informations On Leasing

Lease Options

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.

The benefits of leasing your vehicle with Honda Financial Services are:

• A new car more often: With lower monthly lease payments over a shorter period of time, you can drive a new vehicle more often.
• Low monthly payments: Lease payments are traditionally lower than retail payments on the same vehicle.
• Closed end 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.
• Automatic GAP Protection: 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 (Guaranteed Asset Protection). Some conditions may apply. See your local dealer for details.
• Flexible terms
• Keep more cash to use or invest

Things to be taken into consideration:

• Insurance responsibility: You are responsible for insurance coverage. Required coverage typically is detailed in your lease agreement.
• 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 lease cannot exceed 30% of the Total Lease Price.
• 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.
• Maintenance responsibility: You are responsible for maintaining the automobile. A maintenance schedule is outlined in the owner's manual.
• Excessive wear and tear: Determined at end of a lease ie: dents, paint damage, missing equipment that was part of the vehicle, cracked or chipped glass, mechanical damage, holes, tears or burns to upholstery.
• Allowable kilometers: The yearly kilometer allowance with Honda Canada Finance Inc. is 24,000. At lease inception, you can purchase additional kilometers.
• 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.
• Lease rate and charges: The lease rate and associated charges are disclosed on our full disclosure contract.

Your Lease End Options:

Option 1: Return your vehicle and lease a new one.
This option is convenient, easy, and best of all, you get to drive off in a brand new Honda! Through our loyalty program, we may be able to offer you special rates and terms when you enter into a new lease.

Remember, you will still need to schedule a free vehicle inspection during the last two months of your lease. You will also be responsible for any outstanding payments, excess wear and use, excessive mileage, and any other end of term obligations specified in your lease agreement.

Option 2: Purchase your leased vehicle.
Buying your leased Honda is a great way to continue benefiting from its reliability, performance, and high resale value. If you decide to buy your vehicle, there is no need to have it inspected, since there are no excess wear and use or excess mileage charges to worry about. To find out your purchase amount, you can get a payoff quote 24 hours a day, 7 days a week through our Owner's Website [www.myhonda.ca] in the My Finance section. Be sure to ask your dealer for a Honda Financial Services loan to help purchase the vehicle.

Option 3: Return your leased vehicle to the dealer.
If you select this option, your lease concludes when you turn in the vehicle to a Honda automobile dealer. You will need to schedule a free vehicle inspection during the last two months of your lease.

Lease Return Center

Are you coming up to the end of your lease? Want to know what options you have? If you leased your vehicle here or have moved to the Orillia area since leasing your vehicle, or a dealership you have dealt with has ignored your calls/emails/questions and you need to deal with friendly and helpful dealership, you have found the right place.

It is important to prepare for the end of your lease at least six months before the contract ends. This will allow you to have the time to figure out which option will be best for you. You may be able to upgrade early to a new Honda. Dalt’s Honda is here to help you through the lease end process.

There are a few options at lease end:
Option 1: Return Your Vehicle and Lease a New Honda

Our lifestyles change over the years. New vehicles add great options year to year. Maybe you need a larger or smaller vehicle? Let us show you all of the latest models and review your options. The first step is right here, on our website. Click here to see our model lineup. The next step would be to schedule a vehicle inspection and we will help you with the rest.

Option 2: Return Your Leased Vehicle to the Dealer
If you choose this option, your lease concludes when you turn in the vehicle to Dalt’s Honda. You will need to schedule a free vehicle inspection during the last two months of your lease. You will be responsible for any wear or use that exceeds the waiver. Plus, you will be responsible for any outstanding payments, excess mileage, and any other outstanding obligations specified in your lease agreement.

Option 3: Purchase Your Leased Honda
If you decide to buy your Honda, there is no need to worry about a vehicle inspection or excess wear or mileage charges. Purchasing your Honda is a great way to take advantage of its reliability and performance. We can refinance the balance of your lease and advise you on extending your warranty for worry-free driving.