Learn More About Leasing

Open-Ended Lease

A rental agreement that obligates the lessee to make a balloon payment at the end of the lease to make a balloon payment at the end of the lease agreement amounting to the difference between the residual and fair market value of the asset.

Closed-Ended Lease

An agreement that there is no obligation on the lessee to purchase the leased asset.
( John Hinderer Motorsports uses this type of ended lease )

Leasing Terms

Guaranteed Future Value - Value (Residual - which is the amount owed after you lease has ended)

Monthly Investments - The amount owed for the leased vehicle each month.

Start-ups/ up-Fronts - 1st payment, state titling, Acquisition, License Fee

Capital Cost - Total amount that the lender is giving the lessee

Cap Cost Reduction - Upfront payment that reduces the cost of financing

Money Factor - Amount of interest charged by the lender

Disposition Fee - Lease turn in fee of $350 (settled with Honda Financial)

Advantages to Leasing

  • Not investing in a depreciating asset
  • Lower monthly payment investments (40% less than buying)
  • Lower initial investment
  • Reduced tax obligations in most cases
  • Only taxed on what you use of the vehicle
  • Under Warranty for 36 months
  • Shorter ownership, new vehicle every 3 years

End of Lease Options

  • Buy out the Lease
  • Trade the leased vehicle
  • Sell the leased vehicle
  • Turn in the vehicle

For questions, please call the dealership at 844-847-6414