As vehicle prices continue to rise, affordability is becoming an increasing concern for buyers, but American Honda believes it has a solution. The automaker plans to start offering lease terms on used vehicles, not just new ones.
The program will be offered on both Honda and Acura vehicles in the U.S., and is being billed as a more affordable way of getting into a new (to you) vehicle. At the moment, customers will be able to select certified pre-owned vehicles from the current model year right back through 2018. Honda claims the program lowers monthly payments and offers more flexibility on down payments, as compared to financing the same vehicle.
“Higher new-vehicle prices make the ability to lease Honda certified used vehicles an even more critical gateway to vehicle ownership for young and first-time buyers,” said Dan Rodriguez, Senior Manager of Auto Remarketing at American Honda. “We continue to expand our award-winning CPO offerings, to make it simple and easy to consider and purchase a high quality Honda CPO vehicle.”
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Read: Acura Launches Certified Pre-Owned Program For Up To 10-Years-Old Vehicles
While Honda bills the program as a great way for first-time buyers to get into a new vehicle, Acura describes it as a way for customers to get more luxury, tech, and performance, without breaking the bank.
“Acura’s new Certified Pre-Owned leasing program is perfect for buyers looking for ways to drive a premium performance vehicle without paying a premium price,” said Rodriguez.
The CPO leasing program joins Honda’s other recent efforts to offer more affordable vehicles, including HondaTrue Used and Acura Precision Used. Introduced in March 2022, these offer buyers even older certified pre-owned vehicles (between six and 10-years-old) and present them with a more affordable way to get into a vehicle.
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