A Honda Passport Lease: Everything You Need To Know
Honda Passport by Kevauto — CC-BY-SA-4.0
The Honda Passport is a powerful midsize SUV that has a spacious interior. It’s great for taking a large group of people on an off-road adventure, filled with updated technology for entertainment and safety purposes. If you’re interested in investing in a Honda Passport, you might wonder if a Honda Passport lease is a good option for you.
Read on to learn more about a Honda Passport lease. When investing in a vehicle, it’s critical to be familiar with all options available to you. Leasing is a great option, but it’s vital to see the pros and cons and compare it to buying. For many people, leasing is the best option.
What is the Average Cost to Lease vs. Buy?
When you invest in any vehicle, there are two options you can choose from – leasing and buying. You’ll pay a different amount for a Honda Passport lease than you will to purchase a Honda Passport. It’s critical to understand these price differences ahead of time.
According to truecar.com and cars.usnews.com, the prices you’ll pay for investing in a Honda Passport include:
- To buy for three years: Around $750 a month
- To lease for three years: Around $429 a month
These can vary depending on the model you purchase.
Leasing is the more affordable option for the Honda passport if you intend to keep it for a few years. You can get the most out of a new vehicle and pay less while enjoying the ride.
As with most leases, buying becomes more affordable after about five years. If you intend to keep the vehicle for longer than that, it may be more affordable to invest in a Honda Passport rather than settle for a lease.
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Pros and Cons of Leasing the Honda Passport
Several pros and cons come with a Honda Passport lease. It’s critical to consider some, so you’re prepared for the good and bad that come with a lease.
Read to learn more about these in-depth. Having a well-rounded knowledge of what to expect will help you feel more confident in your choice.
Pros of Leasing the Honda Passport
If you decide to go with a Honda Passport lease, there are many great things you can expect. We’ll go over two of the best to give you an idea of the benefits that can come from this form of ownership.
According to hondamorristown.com, two of the biggest benefits that come with leasing the Honda Passport include:
- Low monthly payments
- Frequent updates
These are two of the great things that come with a Honda Passport lease.
Keep reading to learn more about these two pros. Leasing a Honda Passport can bring many good things to both your pockets and your driving experiences.
Low Down/Monthly Payments
If you decide to go with a Honda Passport lease, you can expect both low monthly payments and low down payments. As mentioned above, these tend to be significantly lower than monthly and down payments when buying a Honda Passport.
Lower prices mean you can pay for a car that might typically be too expensive for you to afford. It’s like a long-term rent. You can enjoy the adventure the Honda Passport provides without paying high prices or dealing with commitment.
Upgrades Occur Frequently
When you go with a Honda Passport lease, you don’t have to make a big commitment. By the end of your time, you can keep the vehicle or swap it out for another. If you love the car, you could even upgrade to a newer version of the Honda Passport.
Leasing allows you to stay up to date on all of the newest additions to the car. If a newer version of the Honda comes out, you can get your hands on it sooner rather than later.
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Cons of Leasing the Honda Passport
As with any form of long-term payment, there are a few cons that come with leasing. These are just as vital to consider so you can make a well-rounded decision with full knowledge of what you’re getting yourself into with the deal.
According to truecar.com some of the prominent cons that come with a Honda Passport lease include:
- Limited ownership
- Damage fees
These might influence your decision to invest in a Honda Passport lease.
Read on to learn more about these negative aspects of leasing a Honda Passport. Although they’re not the end of the world, you should know more about them.
It is Not Yours Forever
With a lease, the car is not yours. There are limitations to what you can do, such as driving long distances and customizing the vehicle. You don’t have it for long, so it never truly becomes your car.
If you want a vehicle that you can call your own, leasing may not be for you. To have a Honda Passport that you can own and customize to your liking, you need to purchase your next Honda Passport.
Fees for Damage the Car Takes
When you lease a Honda Passport, most everything falls under insurance while you’re driving the car. However, once you take the vehicle in for return, you’ll be charged for any extra damages sustained under your care.
If you’re a person that tends to dent your cars, you might end up paying a substantial fee at the end of your leasing period. It’s critical to be aware of this going in so you can avoid damage as much as possible.
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Conclusion
If you decide to lease a Honda Passport, there’s a lot of good you can expect. It’s cheaper in terms of monthly payments, and you get to swap out and upgrade your vehicle more frequently than if you purchased the car instead. However, there are fees if you damage the vehicle, and it won’t be yours for very long.
There’s a lot to consider with looking into a Honda Passport lease. It’s up to you to determine if this is the best option for you when investing in a new vehicle.
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