RPM Financing from Honda Canada Finance Inc. (“HCFI”) offers highly competitive interest rates, low monthly payments and automatic GAP (“Guaranteed Asset Protection”) insurance protection. This coupled with dedicated approvals direct from Honda in less than one hour, all with the convenience of “no hassle, one-stop shopping” right in the dealership.

Want to find out more about what RPM Finance® by Honda can do for you? If you are interested in buying a Honda Product, come in today.

Leasing may be the most misunderstood service offered by automotive dealers today. Vehicle leasing has become an option for every new and pre-owned vehicle consumer. Where in the past the leasing option was most often considered by the corporate high-mileage executive. Leases now offer many advantages to every consumer.

Consider the following when choosing to lease or buy:

Would you like to drive a more expensive vehicle and make a smaller monthly payment?

Instead of a large down payment would you rather invest your cash (down payment) in a high yielding investment?

No matter how well they are built and maintained, vehicles depreciate. Is it wise to purchase a depreciating asset or would you be better to lease your next vehicle and put your money in an appreciating investment?

The reason dealers want to lease you a vehicle instead of purchase it, is that they make more money on a lease - a common perception, but not true. The dealership earns exactly the same profit whether you lease or buy.

Instead of paying taxes on the entire purchase price of your newly acquired vehicle up-front, would you prefer to pay taxes only on each payment, and only on the total number of payments you make?

Lease or Buy? Tax Comparison
For example, if you purchase a $20,000 vehicle, you will pay up front taxes of $3,000.

When you lease you will pay taxes only on each monthly payment. For example: On the same $20,000 vehicle, leased for 36 months, assuming a lease end value of $9,000, you would pay taxes of only $46 per month - totalling just $1,649 over the 36 month term of your lease. Remember, when you have purchased and financed your vehicle and paid the $3,000 tax up front, you will not get a portion of your $3,000 tax back when you sell your vehicle.

Let us show you how trading your vehicle on a new purchase or lease can save taxes.