Vehicle Leasing


Lease Options

Honda, Vehicle Leasing, Orillia, Ontario

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.

For more information about your options at the end of your lease contract, please contact our Customer Care Group at 416-754-2323 or toll free at 1-800-387-5399.

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Honda, Vehicle Leasing, Orillia, Ontario


Frequently Asked Questions
Lease Options

What are the benefits of leasing?

  • Leasing is like renting, you only pay for what you use. Payments are based on the difference between the lease end value and the vehicle cost plus lease finance charges. Taxes will be included in the monthly payment rather than the full cost of the vehicle.
  • A New Car More Often
  • With lower monthly lease payments over a shorter period of time, you can drive a new vehicle more often.
  • Flexible Terms
  • Keep More Cash to Use or Invest
  • Low Monthly Payments
    • Lease payments are traditionally lower than retail payments on the same vehicle.

Is this an open or closed end lease?

Closed End Lease

At the completion of the 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.

What happens if my vehicle is written off or stolen?

Automatic Guaranteed Asset Protection (GAP)

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. Some conditions may apply. See your local dealer for details.

Things To Be Considered

Do I have to insure the vehicle?

Insurance Responsibility

You are responsible for insurance coverage. Required coverage typically is detailed in your lease agreement.

Is a down payment required?

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 leases cannot exceed 30% of the Total Lease Price.

What is due at the time of picking up the vehicle?

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.

Am I responsible for maintenance?

Maintenance Responsibility

You are responsible for maintaining the automobile. A maintenance schedule is outlined in the owner's manual.

Am I responsible for wear and tear charges?

Excessive Wear and Tear

If you are returning your vehicle at lease end, your vehicle will be inspected by an independent company to determine if there is any chargeable damage. Chargeable damage can include: dents, paint damage, missing equipment cracked or chipped glass, mechanical damage, holes, tears or burns to upholstery. You are responsible for either repairing identified damage to acceptable standards prior to returning the vehicle or paying the amount indicated on the inspection report plus applicable taxes.

How many kilometers can I drive?

Allowable Kilometers

The yearly kilometer allowance with HFS is 24,000. At lease inception, you can purchase additional kilometers.

What is the total vehicle price?

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.

What is the total cost of the transaction?

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.

What are the lease rate charges?

Lease Rate Charges

The lease rate and associated charges are disclosed on our full disclosure contract.

Dalt's Honda is located in Orillia, Ontario and also serves Midland, Barrie, Gravenhurst, Bracebridge, Kawartha Lakes, Parry Sound, Huntsville, Collingwood, Lindsay and surrounding areas.

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Saturday9:00 am - 4:00 pm
SundayClosed
Monday - Friday8:00 am - 5:00 pm
Saturday9:00 am - 1:00 pm
SundayClosed
Monday - Friday8:00 am - 5:00 pm
Saturday9:00 am - 1:00 pm
SundayClosed
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