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Leasing vs. Cash

Why Leasing May Be Better than Paying Cash for your Honda

You could be someone who likes to pay for their vehicle in cash. You don’t want to rely on borrowing money for your possessions, no matter how important they may be. Is there a better way to use your money, though? Can you make your cash flow work for you to enhance your lifestyle or provide a more secure future?

Leasing your Honda could be your answer.

Leasing isn’t just for businesses.

It provides a viable vehicle ownership option for people from all walks of life. Whether you can afford to buy your Honda outright or need to secure the lower payments to make ends meet, or if you use your Honda as a company car, leasing could be the best choice in your situation.

Here’s why:

  • Leasing has competitive interest rates
  • In nearly every circumstance, Honda leases have a lower interest rate than you can achieve on even the most modest of investments. If you have extra cash, you can put it to work in an investment portfolio or RRSP. It will earn you more invested than it saves you in the interest you pay on your Honda lease.

  • You only pay for the portion of the car you use
  • If you pay cash for your Honda, you’re paying for 100 percent of the car no matter how long you own it. A lease means you only pay for the portion of the car’s life that you actually use. You can use the extra money you keep for more important things in life.

  • Leases are great for business
  • If you are a business owner, leasing can prove to be a much better way of obtaining a company car than paying for your Honda in full. With low payments instead of using a chunk of cash from your business, you can afford to invest in business promotion or operations that can make you money. Leases are often the best way to write off your company car for income tax purposes as well.

  • You save on depreciation
  • Although Honda values depreciate at a slower rate than most cars, your Honda still won’t increase in value. If you pay cash for your Honda, that depreciation is YOUR money ebbing away. With a Honda lease, you don’t have to worry about the rate of depreciation. When your lease is complete, you can turn it in without a concern for its depreciation.

  • You aren’t tied to your car purchase
  • If you decide to pay cash for your car and want to upgrade in the future, you’ll have to deal with either selling it or trading it in. With a lease, it’s simple. You can choose to easily upgrade to the newest model once your lease is up by just starting a new lease.

  • You can buy your lease in the end
  • At the end of your Honda lease, you might decide you don’t want to part with your car. If that’s the case, you can buy it out through financing at a competitive rate or paying cash. In the meantime, you’ll have saved money with low payments by using your cash flow in other ways, whether you start a savings account, RRSP, or pay down your mortgage.

Honda lease rates are always competitive and offer an excellent alternative to financing or paying cash for your next vehicle. Is leasing right for you? For more information, contact the sales professionals at Cambridge Centre Honda or drop in today!

Customer Reviews

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  • J Robinson

    Cambridge Honda was definitely the best experience I have had at a Dealership. They are not the traditional pushy sales people you imagine when thinking about buying a new (or used) car. They truly want you to get the best deal possible and to be happy with your purchase. I had the pleasure of working with Sales Consultant Danielle and Financial Services [...]

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  • Cordell Sacrey

    This was my first time buying a new car. Honda was actually the start of my ventures to the different dealers. I live in Kitchener but read stuff about Cambridge Honda that made me want to go there! I set up a test drive online and Marci was pretty much instant in her prompt reply to get me all set up! When I had arrived she was this bubbly and enthusiastic [...]

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  • Anthony Milito

    Great overall experience with the team at Cambridge Centre Honda! Marcia was patient as we took our time deciding on the right vehicle and was super helpful through the entire process. We didn't ever feel rushed or like we were being sold to (as can sometimes be the case). Buying a new car can be tough so it was great to work with such an awesome group [...]

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  • Anne Wilcock

    A fond farewell! For the past 10 years, you provided absolutely excellent service for our two Honda vehicles. We have recommended you for sales and service to many of our friends. If we were in the market for a Honda, we would surely return to you. Sadly, at the moment, Honda does not make a car that suits our needs. You make a real effort to provide [...]

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  • Lisa Humphreys

    Cambridge Centre Honda was great with everything and Marci in Sales offered me exceptional service. She truly made purchasing my new Honda CR-V an easy process and I would definitely recommend Cambridge Centre Honda. This is my forth Honda and what I like is their knowledgable service department when I have questions! Keep up the great job and thank [...]

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