BUYING A ACURA If you're
looking for a great auto financing deal, traditional financing from
Honda Financial Services may be just the right option for you.
Financing is available for nearly all Santa Monicaa Acura's Acura
How Traditional Auto Financing Works
It's pretty simple. When you apply for financing, you and your dealer
will agree on a down payment and the term - and then calculate your
monthly payment based on the purchase price, term, and annual
percentage rate (APR). To save time at the our dealership, you can even
apply for pre-approval online.
All About Equity
Throughout the term of your auto financing contract, your payments will
consist of part principal and part finance charges. At the beginning,
your monthly payment covers mostly finance charges, but as the term
progresses, the ratio of finance charges to principal changes. Each
payment you make increases the amount of equity you've built up in your
Acura or other Manufactures product; payment by payment, as the amount
of principal you're paying increases, the amount of finance charges
Then What? After making your
payment each month for the duration of the financing contract, the
vehicle is all yours. So what comes next? Negotiating a trade-in with
your dealer may be a great way to come up with a down payment for your
next Acura. You can also sell your vehicle privately or keep driving it
for years to come - it's your decision to make.
Auto Financing Options: Lease or Buy?
Is buying right for you? Great question. If you typically keep your
vehicle for five to 10 years, then buying may be your best option.
Buying a vehicle means you can drive as many miles as you wish and make
changes to your vehicle's appearance. Buying also gives you the pride
of ownership. For more information about lease vs. buy options, use the
Planning Tools on this site. Whichever Acura you're considering,
Santa Monica Acura has a financing program for you. Learn about our
traditional and alternative programs for New Auto Financing, or find out about available financing terms for Used Automobiles. Recent and future graduates, be sure to check out our Special Programs. If you have more questions about financing for cars, read through our Buying FAQs.
LEASING A ACURA
If you are considering the purchase of a new or certified used Acura,
there are many good reasons that make a Acura lease a smart decision.
You can drive a new vehicle more often, usually with less money down
and a lower monthly payment than with traditional financing. Then, at
the end of your Acura or Honda lease, you have several options to
How the Acura Lease Works
When you lease a new Acura automobile, you contract to use it for the
first - and best - period of its life. Your monthly payment covers the
depreciation of the vehicle, plus a service fee. That means that you
pay only for the portion of the vehicle's worth that you are actually
going to use. In a lease, your mileage is generally limited to 12,000
or 15,000 miles per year, although you can "buy" extra miles up front
to save excess mileage charges at the end of your lease.
monthly lease payment is calculated based on several factors, including
the term of the lease, a service charge, the capitalized cost which is
based, in part, on the purchase price, and the vehicle's projected
residual value at the end of your lease. A capitalized cost reduction,
similar to a down payment, can help reduce your monthly payment. To
save time at the dealer, you can even apply for pre-approval online. Don't forget to check with your insurance agent to make sure you have sufficient coverage.
At the end of your lease, Acura offer a variety of choices. You can
purchase the vehicle at a predetermined price and keep it, or just
return the vehicle and take care of any end-of-term obligations. Best
of all, you can return the vehicle and lease again. The AHFC Leadership
Leasing Loyalty? program makes it easy and affordable to get right into
another Acura at the end of your lease.
Why Lease Through a Franchise Acura Dealer?
Leasing offers a complete package of convenience, savings, and
benefits. In particular, the Acura Luxury Lease? program provides
several advantages that are not always available from other
Generous mileage allowances
Waiver of excess wear and use charges up to $1,500*
No disposition fees
Convenient online account access
AHFC EasyPay automatic electronic bill payment
Gap coverage included at no additional charge
*Except for damage caused by any single event which exceeds $500. Applies to lease contracts dated June 7, 2001 and later.
Automotive Options: Lease or Buy?
Is leasing right for you? Great question. If you typically drive 15,000
miles per year or less, then leasing may be your best option. Leasing
requires less cash up front than buying. And because monthly payments
are lower than with traditional financing, you may be able to afford to
drive a higher-priced model by leasing.
Alternative Financing for Acura Vehicles
If the small down payment and low monthly payments of a lease appeal to
you, but you prefer to own your vehicle, you may want to consider our
alternative financing program. The Leadership Purchase Plan? combines
the benefits of leasing with the satisfaction of ownership. Sound good?
Learn more about the Leadership Purchase Plan?.
Whichever Acura automobile you're considering, your Acura dealer has a
lease that is right for you. Learn about our leases on new automobiles as well as certified used vehicles. Discover the rewards of loyalty or find about our Graduate program in Special Programs. If you have more questions, check out our Leasing FAQs..