When it comes time to drive off our lot in your new or certified pre-owned Honda model, you’ll have a couple of different ownership options. For some drivers, purchasing the car outright makes the most sense, but for others, it’s more advantageous to lease. If you’re new to the whole car-buying process, you may have some questions about how leases work. Here at our Olympia Honda dealership, we have a friendly team of lease experts ready to get you up to speed on the car leasing process.
The most obvious and important question to ask when it comes to leasing is, what exactly is a lease? One simple way to think of car leases is as similar to a long-term rental. You’ll never own the car outright; instead, you pay a monthly fee to the bank, which is the rightful owner of the car, for a predetermined amount of time. Leases typically last two or three years. When a lease ends, you’ll have a couple of options. If you can’t bear the thought of getting rid of your Honda car, you can choose to purchase it at a reduced price. On the other hand, if you have the new car itch and want to drive off our lot in another new Honda vehicle, our lease return process is simple and quick.
Unlike buying, there are certain restrictions that come with leasing. First, your lease contract will likely have mileage limits. These limits are typically 12,000 to 15,000 miles per year, and if you exceed them, you will be charged a fee. Also, you’re expected to return the Honda vehicle without excessive wear and tear, or risk being charged extra.
Head on over to Honda of Grays Harbor for a lease on a new 2018 Honda car!