How to Lease a Honda in Houston, TX
Take this opportunity to drive through Houston at the helm of a Honda CR-V, Civic, Passport, or other model by leasing it from us at Easy Honda. Below, we’ve made an overview to help explain the basics of these agreements, so you’ll be ready to go when you arrive at our dealership in Houston.
What Is a Car Lease?
Think of leasing as a long-term rental agreement. When you lease a Honda, you are paying for the use of the vehicle over a fixed period of time, typically two to three years, rather than paying to own it outright. At the end of the lease term, you simply return the vehicle to us. You never have to worry about trade-in negotiations or finding a private buyer. You just hand over the keys and decide what comes next. The monthly payment on a lease is generally lower than a traditional auto loan payment on the same vehicle. That's because your payments are based on the car's depreciation during the lease term, not its full purchase price. In other words, you're only paying for the portion of the vehicle's value that you actually use on your journeys to work, school, or Memorial Park.
How the Numbers Work
When you sit down with our Finance Department to discuss a lease, a few key figures come into play. The first is the capitalized cost, which is essentially the agreed-upon price of the vehicle. The second is the residual value, which is what the car is expected to be worth at the end of the lease. The difference between those two numbers, after accounting for any down payment or trade-in credit, forms the basis of your monthly payments. A higher residual value is actually a good thing for you as a lessee. It means more of the car's value is preserved, which results in lower monthly payments. Hondas are well known for their strong resale and residual values, which is one reason our vehicles tend to be especially attractive to lease customers.
Mileage and Wear
Most leases come with an annual mileage allowance, commonly 10,000 miles, 12,000 miles, or 15,000 miles per year. If you expect to drive more than the allotted amount, we can adjust your contract upfront to accommodate that. Driving over your mileage limit at lease end does result in per-mile fees, so it's important to understand your driving habits. We also ask that you return the vehicle in good condition. Normal wear and tear from traveling through Midtown is expected and perfectly fine. Significant dents, deep scratches, or interior damage may result in additional charges at the time of return.
What Happens at the End?
When your lease term wraps up, you have a few choices. You can return the vehicle and lease a brand-new Honda, which many of our customers love because it means driving the latest model with updated technology every few years. You can also choose to purchase the vehicle for its predetermined residual value if you've fallen in love with it. There's no pressure either way. Leasing is a smart, flexible option for drivers who want a new car experience without a long-term financial commitment. Stop in and talk with one of our team members today. We'd love to find the right Honda and the right plan for you.
Learn More About Buying vs Leasing!
