Clarenville Honda
19 Shoal Harbour Drive, Clarenville, NL, A5A 2C3
Toll-free:
1 888 355-9292

Clarenville Honda Financial Services

Lease vs. Finance -- Which Option Is Right for You?

Choosing your next Honda is the fun part. Choosing how to pay for it should be just as simple. Our F&I team at Clarenville Honda will walk you through the pros and cons of each option so you drive away with confidence.

Talk to an F&I Manager: 709-466-3245

Why Finance or Lease With Honda Financial Services?

A trusted partner backing every kilometer of your ownership experience.

Trusted & Safe

A trusted and secure financial partner with decades of experience helping Canadians drive Honda.

Exclusive Loyalty Offers

Access to loyalty incentives, warranty programs, and Honda Plus protection packages reserved for HFS customers.

Easy Online Access

Manage payments and account details anytime through MyGarage -- Honda's secure customer portal.

Lease vs. Finance at a Glance

A side-by-side look to help you decide.

Consideration Finance Lease
Ownership You own the vehicle outright once payments are complete. You pay for the use of the vehicle, with the option to buy at lease-end.
Monthly Payments Typically higher -- you're financing the full vehicle cost. Typically lower -- you only pay for the depreciation during your term.
Term Flexibility Flexible terms, open contract -- pay out anytime with no penalty. Flexible terms, typically 24--60 months.
Kilometer Limits None -- drive as much as you want. Annual allowance set in contract; excess kilometers are charged at lease-end.
Wear & Tear No end-of-term wear charges. Excess wear may apply at lease-end.
Best For Drivers who want to build equity and keep their vehicle long-term. Drivers who prefer a new Honda every 2--4 years and lower payments.
Option 1

Why Finance Your Honda?

If you like the idea of owning your vehicle outright, prefer paying off a loan, and want to avoid potential lease-end charges, financing is likely the right fit. Each payment builds equity -- until eventually, the Honda is entirely yours.

Honda Financial Services retail loans are open, meaning you can pay the contract out at any time without prepayment penalties.

Benefits of Financing

You Own ItThe vehicle is 100% yours when payments end.
Open LoansPay out anytime with no prepayment penalty.
No Kilometer ChargesDrive as far as you want -- the road is yours.
Build EquityEvery payment increases your equity in the vehicle.
Simple InterestStraightforward interest calculation, fully transparent.
Flexible TermsCustomize your term length to match your budget.
Things to Consider Monthly payments are typically higher than a lease because you are financing the full cost of the vehicle. You are responsible for insurance coverage and maintenance as outlined in your owner's manual.
Option 2

Why Lease Your Honda?

Leasing gives you the freedom to drive the Honda that fits your lifestyle today -- and change it as your life changes. In simple terms, leasing is like renting: you only pay for what you use.

Payments are based on the difference between the vehicle's cost and its lease-end value, plus finance charges. Taxes are included in the monthly payment instead of the full vehicle price.

Benefits of Leasing

A New Honda More OftenDrive a new vehicle every 2--4 years.
Lower Monthly PaymentsEasier to afford the Honda you want most.
Keep More CashFree up cash to use or invest elsewhere.
Warranty ProtectionMost of your term is covered by warranty.
Low-Kilometer OptionsDrive less? Save more with Low Kilometer Leasing.
Flexible TermsTerm lengths tailored to your lifestyle.
Closed-End Lease At lease-end, purchase your Honda at the pre-determined price in your contract (plus taxes), or return it with no further obligation -- provided you're within your kilometer limit and the vehicle is free of excess wear.

Automatic Guaranteed Asset Protection (GAP) on Every Lease

If your leased Honda is stolen, vandalized, or written off in an accident, your insurance settlement may not cover your full lease obligation. Honda's Future Value Lease includes automatic GAP coverage -- closing the monetary gap between your insurance payout (less deductible) and what you still owe. Some conditions apply. Speak with Clarenville Honda for full details.

What Happens When My Term Ends?

Whether you've been leasing or financing, Clarenville Honda makes your next move simple.

1

Upgrade to Your Next Honda

Explore the latest Honda lineup and book a test drive. As a returning customer, you may qualify for exclusive loyalty offers.

2

Keep Your Current Honda

Love your vehicle? Purchase it outright or refinance the buyout through Honda Financial Services' flexible refinancing program.

3

Return Your Lease

Schedule a lease-return appointment with Clarenville Honda. We'll handle the details so your transition is seamless.

Still Not Sure Which Option Is Right for You?

The F&I team at Clarenville Honda is ready to walk you through every number, every term, and every option -- no pressure, no surprises.

Call 709-466-3245
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