Affordability is becoming a bigger worry for many consumers as car prices rise. American Honda thinks it has figured out a way to deal with this problem by starting a program that offers lease terms on used cars.
In the United States, the program will be offered on both Honda and Acura vehicles and is positioned as a more affordable way to buy a new car. From 2018 to the current model year, customers can select certified pre-owned (CPO) automobiles. In addition, the carmaker thinks that this approach reduces monthly payments and gives customers more options when it comes to down payments than when they finance the same car.
This program is a supplement to Honda’s other recent endeavors, which include the March 2022 introduction of Acura Precision Used and HondaTrue Used. These programs offer a more practical way for buyers of certified pre-owned cars between the ages of six and ten to own a car.
Given the rising cost of new cars, Dan Rodriguez, Senior Manager of Auto Remarketing at American Honda, stressed the importance of offering lease options for Honda-certified preowned vehicles. In addition, he says, “Honda is expanding our range of CPO offerings to simplify the process of selecting and acquiring a premium Honda certified pre-owned vehicle.”
Acura describes the program as a way for customers to get more luxury, technology, and performance without breaking the bank, while Honda touts it as a fantastic way for younger and first-time buyers to get into a new vehicle.