Honda is often in the conversation for the most reliable car on the market, which makes it a strong leasing option. Before you leap to lease a Honda, you need to understand how leases work and how much you can anticipate paying each month.

The careful engineering of every Honda model results in very few reports of reliability issues. Vehicles with higher reliability tend to have higher residual values, which is an important metric in determining whether you want to lease a Honda.

Despite Honda’s reliability accolades, choosing to lease a vehicle comes along with limitations.

Not sure if you want to lease a Honda? Don’t worry! The

car insurance

experts at

Jerry

are here to explain what leasing prices could look like, and help you decide whether a lease is worth it for you. (Keep reading to see how you can lower your

Honda car insurance cost

, too.)

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How to lease a Honda

Leasing is a unique alternative to taking out a

car loan

and buying your vehicle permanently. It’s important to consider your vehicle goals and personal finances to properly evaluate your options. Here’s a step-by-step guide on how to qualify your candidacy for a leased Honda:

Check your credit score. Holding a credit score above 700 can save you hundreds on monthly payments as compared to a score in the 600s. A score in the 500s may not qualify for a lease.

Review your budget. Your monthly lease payment should never be more than 15% of your gross income. Anything below this will help you maintain a stable budget.

Prepare for a down payment

. Down payments drastically affect your monthly lease bill. Many dealers will advertise a low monthly payment but put the large down payment in the fine print at the bottom of the advertisement.

Calculate your annual mileage. Excess mileage can cost you anywhere from 10 cents to $1 per mile, so it’s important to agree to a lease that reflects your estimated amount of time behind the wheel.

Feel free to use a car lease payment calculator if you want a more precise estimation of your costs.

Always prioritize your goals when you go to the dealership for a new lease. Are you just trying to test drive the latest technology for a couple of years or are you looking for a financially efficient alternative to vehicle ownership? This is an important question.

Now that we’ve established some ground rules, let’s take a look at some Honda models that are great leasing candidates. Depending on your taste, we recommended checking out the 2022 Honda

Civic

Accord

, or

CR-V

. We’ll break down the prices a little later.

Keep in mind that It’s easy to accept the first lease offer you receive, but it’s important to collect multiple quotes and run some comparison analysis on your options. This can help you make sure you don’t end up with a loan that you can’t afford.

The final step: shop for insurance

Now that you’ve made your choice, it’s time to find some car insurance for your newly leased Honda! You'll need to make sure your policy includes your

state insurance minimums

and whatever additional coverages your dealer requires, like

comprehensive

collision

coverage.

MORE: How to lease a car

How much does a Honda lease cost?

Now that you understand the bandwidth of your financial budget, let’s take a look at how much it costs to lease a Honda. Here are some factors that can directly influence total leasing cost:

The Honda model you choose to lease (compact, crossover, etc.)

Your credit score (Over 700 gets you substantial savings)

Your lease term (Typically 24 or 36-month agreements)

Residual value

Original MSRP

Any additional accessories, options, warranties, and add-ons

Sales tax in your state

Honda’s compact cars and crossovers can serve as great leasing options due to their low original MSRP and high residual value. In other words, these are fairly affordable options that hold their value well against depreciation, which is a “chef’s kiss” combination for a lease.

Let’s take a look at some specific Honda models. Here is the estimated total due at signing and subsequent monthly payments for a 2022 model of the Civic, Accord, or CR-V.

Civic: $487 First month’s payment + $1000 down payment = $1,487, followed by $403 monthly payments for the lifetime of the lease

Accord: $503 First month’s payment + $1000 down payment + a unique $425 security deposit = $1,928, followed by $385 monthly payments for the lifetime of the lease

CR-V: $567 First month’s payment + $1000 down payment = $1,567, followed by $437 monthly payments for the lifetime of the lease

Your lease will also require you to pay a standard $595 acquisition fee, regardless of the model you select.

These prices are reflective of a credit score of 700 or more. Even if you're in the 640-699 range, you can still lease a Honda for only 5% more. All the factors mentioned above have a role to play in determining your total cost to lease a Honda.

If you're just looking to get from point A to point B, Honda is a reliable and affordable choice. However, if you’re looking to test out the latest and greatest features of the auto industry, Honda probably won’t be your top choice.

MORE:

Are Hondas expensive to maintain?

Services included in a Honda lease

Each Honda dealership may be unique in the number of services, warranties, and add-ons that are included in the lease agreement. That said, we recommend splurging on the Honda Care Maintenance plan.

This service package covers just about everything under the sun and can save you money on your leased car in the long run. Remember—you’ll have to pay out of pocket for wear and tear costs if you don’t have proper service coverage.

Take a look at the full-service

that Honda Care Maintenance has to offer.

Key Takeaway Hondas are functional and affordable cars to lease compared to the average car on the market.

What to do when your Honda lease is up

Is it time to break up or are you open to a long-term relationship? Once your lease is up, you’ll have to determine if you're going to purchase your Honda or return it. Let’s take an in-depth look at both options.

How to return a leased Honda

It’s best to start the return process a couple of months in advance rather than a few days before your lease-end. This preparation could help get ahead of any repairs or clean-up work needed. Here is the expected timeline of your leased car’s return:

Complete a preliminary assessment two or three months before lease-end

Complete appropriate vehicle repairs

Prepare vehicle for return by removing personal items

Satisfy any outstanding financial obligations, including paying any penalties

Return the vehicle!

Even after you’ve fulfilled all the requirements in this checklist, you’ll be responsible for a $350 disposition fee. After that, you're free to try out another Honda or search for your next leased adventure on wheels.

How to purchase a leased Honda

As mentioned, the low original MSRP and high residual value present an attractive lease price—but it also presents a unique buying opportunity.

This means that Hondas hold a larger portion of their value throughout their leasing years. Once the vehicle has too many miles and the dealership wants to get rid of it, they may cut you a solid deal just to take it off of their hands.

MORE:

Is it better to lease or buy a car?

How to find affordable car insurance for a Honda

Even though Honda is one of the more affordable vehicle brands to lease, the savings don’t have to stop there.

Jerry

can find you an affordable car insurance policy that meets all of your needs to lease a Honda.

All you need to do is download the

trusted super app

or go to getjerry.com. In less than 45 seconds, Jerry collects all of your basic information. From there, you can choose a competitive quote from dozens of insurance companies.

Jerry takes care of the rest—securing your new policy and helping you cancel your old one without any paperwork or headaches. You just need to worry about sporting your newly leased ride!

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Is Honda leasing worth it?

Honda’s are one of the most affordable vehicles you can lease. This is due to their low original MSRP, high residual value, and reliability. If all you need is a car lease to get around town, Honda can serve as a great option.

What’s the cheapest Honda you can lease?

The Honda Accord has the lowest monthly payment but requires an upfront security deposit in addition to the total due at signing. The Honda Civic also has a cheap monthly rate, and there’s no need for a security deposit on this model.

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