Going beyond Your Dealer’s Car Lease Terms and Financing

honda financial servicesHonda Financial Services has made it possible for Honda dealers to offer some impressive car lease deals this year. In fact, Honda has introduced very competitive 36-month, 12,000 mile, no-money-down offers which consistently ranked near the top of our monthly car lease deals over the past 6-7 months. But, don’t assume that great Honda Lease offers begin and end with the Honda Auto website lease deals. Did you know that there are alternative car lease offers being offered by Honda Financial Services? All you have to do is ask Honda Financial Services.

Alternative Car Lease Ideas by Honda Financial Services

35-Payment Car leases are only one creative way to lease Honda automobiles. Having spent some time surfing the Honda Financial Services website, I was pleased to learn a few more clever ideas among their bag of leasing and loan tricks. Depending on your situation, here is some car leasing and loan benefits from Honda Financial Services that could potentially make a difference for you on buying or leasing your next Honda:

15,000 Mile Leases

Don’t assume you can’t lease a car just because you’re driving habits takes you over the 10,000 - 12,000 yearly mileage allowance of typical car leases. Honda Financial Services offers a 15,000 mile option for just a few dollars more per month. This could save you hundreds, if not thousands of dollars over the course of your 3 year lease term, if you expect to drive more than 12,000 miles per month. Many auto financial service companies charge 20 cents per mile over your allowed mileage limit. 15,000 miles a year on a 12,000 mile lease for three years will cost you $1,800 at the termination of the lease. ((3,000 x 3) x .20) =$1,800))

48-month and 60-month Leases

Much of the time, leasing consultants discourage lease terms over 3 years. Why? There are a few reasons for this: One, your car warranty expires after 3 years and maintenance issues such as tires and brakes usually need to be addressed. Two, the higher interest rates on longer lease terms sometimes make the average car payment equal or higher to a lower number of monthly payments. Finally, some cars depreciate at a much greater rate between years 3 and 5, resulting in relatively lower residual values; which can offset any advantages of spreading the loan out over a higher number of payments. So, why would Honda Financial Services offer anything longer than a 36-month lease? Well, for one thing, there are up-front fees such as tax and registration associated with leasing new cars every 3 years. Hondas hold their value extremely well, even after five years. With the right Honda car lease deal, a 48-Month or 60-Month lease can yield a lower monthly payment; eliminate that 3-year replacement cost for license and fees and keep you in a car that you enjoy driving for a little longer. Besides possibly needing new brakes and tires, not much else is likely to go wrong with a Honda. It might just pay-off to keep your car lease that extra 1-2 years if you can make the right lease deal. So, what else does Honda Financial Services have to offer?

The Honda Graduate Program

I don’t think a car dealer exists that doesn’t offer a rebate for college graduates buying a new car. Don’t assume that these graduate offers apply just to car loans. Honda Financial Services offers leasing as well as purchasing incentives for college grads. There are only a couple of requirements: You must have graduated with a Bachelors, Associate or Masters Degree in the last 2 years from an accredited college; you cannot have any black-marks on your credit history. If you’re a recent college grad or nearing graduation, it is certainly worth contacting Honda Financial Services to see what they have for you. If you’re like me and graduated many years ago, there’s plenty of other reasons to ask Honda Financial Services for a better deal. How?

How to Contact Honda Financial Services

Make your Honda Dealer do the work. Tell them that you want to take advantage of some of these good deals you’ve read about on the Honda Financial Services website: 48 to 60 month leases, 15,000 mile leases and its college graduate program. Compare the monthly lease offers on Monthly Car Lease to what’s available from your dealer. There is only one thing to be careful of – don’t make your dealer do too much work. Like any other finance company, Honda Financial Services offers the dealer some other ways to increase their profits: Extended Car Warranties; roadside assistance and maintenance programs, just to name a few. Unless, these are programs you are really interested in, resist your dealer’s push to add margin to their sale. Getting what you what want at the price you want means asking your dealer for a better deal. Make your dealer realize that Honda Financial Services is working for you and not him.

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Filed under: Car Leasing

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