Vehicle Leasing


Options

New and Used Vehicle Leasing Welland, Car Leasing Welland, Welland Honda

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.

No Fees: Honda Financial Services has no administration, early termination, end of lease or vehicle disposal fees.

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 Welland Honda 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.

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.

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: Return your leased vehicle and purchase a certified used vehicle.

Certified Used Vehicle (CUV) programs offer significant advantages over used vehicles that are not certified. The decision to buy a certified used vehicle is clear new vehicle benefits at a used vehicle price. With a solid reputation for reliability, performance, safety and value, a Honda Certified Used Vehicle is truly a great opportunity. With a Honda Certified Used Vehicle, you'll also have access to financing options through Honda Financial Services.

Option 3: 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 4: 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. You will also be responsible for any outstanding payments, excess wear and use, excessive miles, and any other end-of-term obligations specified in your lease agreement.

For more information about your options at the end of your lease contract, please contact Welland Honda.

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Privacy Statement

Introduction
As a valued customer, we want to ensure that your private information is kept private and only shared with those companies that are authorized by yourself or that are allowed or required by law. This document explains our privacy policy, gives you reasons why we ask for the type of information we do, and if we do reserve a right to share information with non-affiliated third parties, lets you "opt-out" of our reservation to do so. Please take a moment to read this entire policy.

Collection of Information
The purchase of a motor vehicle requires considerable accumulation of non-public personal information. For example, if we sell or lease you a vehicle—extending credit to you at your request—we will receive information from you in order to determine your creditworthiness. We may also obtain information from a credit reporting agency. We may also obtain information from third parties such as employers, references and insurance companies.

Some of the information we obtain from you may be required by provincial or federal agencies, such as the Department of Motor Vehicles or the Canada Revenue Agency. This information may be required even if you were to pay cash for your vehicle. Examples would be a driver's license or social security number.

Protecting Your Information
We safeguard nonpublic personal information according to established industry standards and procedures. We maintain physical and electronic safeguards that comply with provincial and federal law. We restrict access to non-public personal information about you to those employees and outside contractors who need to know the information to provide goods or services to you. We prohibit our employees and agents from giving information about you to anyone in a manner that would violate any applicable law or our privacy policy.

Information Sharing
Unless we have indicated our desire to share your non-public personal information with non-affiliated third parties (by checking the box in the section below), we share information:

A) For everyday business purposes, such as to process transactions, maintain account(s), to respond to court orders and legal investigations, or to report to credit bureaus.

B) For the purposes of processing a sale or lease transaction at your request or authorization, such as submitting information to third party financial institutions that may be requested to take an assignment of the contract, or verifying insurance coverage information.

C) When using outside service providers to help us provide you with products and services. Before providing information to our service providers, we enter into contractual agreements prohibiting them from disclosing or using the information other than for the purpose for which it was disclosed.

D) With "Affiliated" companies. Companies that are affiliated with us include any company that controls us, any company that we control, or any company under common control with us.

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