The Benefits Are Clear
If you're nervous about tying up capital in a vehicle, or if you're worried about high monthly payments, a lease is often an option that may have great value for you. What follows will help you make an informed choice. With Our Lease Your Future is GuaranteedWith a Honda Finance Future Value Lease™, the future value of the vehicle is determined at the beginning of the lease. So instead of making monthly payments based on the total purchase price, your payments are based on monthly depreciation. As a result, you are only paying for the portion of the vehicle that you use which in turn allows you to take advantage of a lower monthly payment.
Zero down payment for O.A.C. only. Details of this example With a Future Value
Lease™
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| Future Value Lease | Purchase | |
| Selling Price | $20,000 | $12,500 |
| Down Payment | $0* | $1,065 |
| Monthly Payment | $369 | $369 |
| Refundable Security Deposit | $425 | $0 |
| Amount Due at Delivery | $794 | $1,065 |
| Number of Payments | 36 | 36 |
| Total of Payments | $13,284 | $14,349 |
Zero down payment for O.A.C. only. Details of this example
With lower monthly payments over a shorter period of time, you can drive a new vehicle more often. So just about the time your vehicle requires increased maintenance such as new tires, you have the option to leave it behind and be in a brand new vehicle.
| Future Value Lease | Purchase | |
| Selling Price | $20,000 | $20,500 |
| Down Payment | $0* | $1,000 |
| Monthly Payment | $369 | $403 |
| Refundable Security Deposit | $425 | $0 |
| Amount Due at Delivery | $794 | $1,000 |
| Number of Payments | 36 | 36 |
| Total of Payments | $13,284 | $25,180 |
Zero down payment for O.A.C. only. Details of this example
With the Future Value Lease™ at the end of your lease you have the option to purchase the vehicle for a pre-determined price as shown on your lease contract or you can return it without further obligation. If you decide to walk away from the vehicle, all you have to do is make sure you haven't gone over your kilometer limit, have all outstanding fines paid, pay your disposition fee and be sure there is no excess wear and tear on the vehicle (major chips, dents, excessive tire or brake wear, etc).
When you borrow money to purchase a vehicle it's usually the banks who call the shots. But with a Future Value Lease™ you tailor the monthly payments to match your budget, the term of the contract and even the kilometers you expect to drive.
With our lease you are automatically granted 2,000 kilometers per month, which is the average distance for Canadian drivers. If you know you'll drive more than 24,000 kilometers a year, we give you the option to buy additional kilometers up front at a reduced cost.
Many institutions offer "OPEN END" leases. This means you are responsible for the vehicle's market value at the end of the lease. With the Future Value Lease™ , Honda Canada assumes the risk of the future value with a "CLOSED END" lease. The "option to purchase" price shown on your contract is what you pay regardless of the vehicle's market value at the end of your lease.