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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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  • AnnMarie Marcolin

    This is my fourth car but I’m a first time Honda owner. I drove from Toronto to the Cambridge Centre Honda Dealer because they had the exact car that I was looking for and the right price. I was greeted by a great team; the staff is wonderful and really seems to enjoy their work. Marci, my sales rep. was exceptional, very knowledgeable yet not pushy [...]

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  • Jen Noel

    I just bought my first car here (a lovely little Honda Fit) at my mom's recommendation, as she bought her car here (Honda CRV) and has had nothing but good experiences with Cambridge Centre Honda. Well, I can say that I am so glad I listened to my mom! From start to finish the staff at Cambridge Centre Honda were amazing and made this new and somewhat [...]

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  • Zoe Campanaro

    My first time purchasing a brand new car (actually am leasing). I had been to 5 dealers in one day. Had the worst experience at Kitchener Honda before I ended up at Cambridge Honda unintentionally, but it turned out to be great. I was welcomed right away. Worked with Stan from the beginning. He asked me a few simple questions and I needed clarity on [...]

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  • Steve Rollins

    I'm updating this review from a 1-star to 4-star. In short, I had wasted a full day on two separate occasions for the dealership to replace my airbags (on recall) with them not being able to figure it out. I had just let it go out of frustration until I left a negative review a week or so ago. Well, about an hour after leaving the negative review [...]

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  • Donna Kincade

    Cambridge Centre Honda was amazing! Kevin was wonderful! The entire organization is very customer focused. Everyone went out of their way to make sure we had all the information we needed to purchase a 2018 Honda Civic EX. The orientation to all the car's features was most appreciated. We look forward to driving our new car and are grateful to [...]

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