Financing Options

Simply put, financing is determined by how much you will need to borrow to pay for the entire automobile plus applicable taxes. Once financing is secured, you will then be required to pay back the amount you borrow plus interest, typically in equal monthly payments over a pre-arranged period of time.

The benefits of financing your vehicle with Ceilidh Honda are:

• You are the owner of the vehicle.
• All retail loans are open and you may pay out the finance contract at any time without prepayment penalties.
• Simple interest method to calculate interest charges.
• No kilometer charges.
• No wear and tear charges.
• Build equity.
• Flexible terms.
• Once all the payments have been made, you own the automobile.

Things to be taken into consideration:

• Monthly loan payments are typically higher than monthly lease payments because you are financing the total cost of your automobile which includes all applicable sales taxes and purchase price.
• You are responsible for insurance coverage. Required coverage typically is detailed in your financing agreement.
• You are responsible for maintaining the automobile. A maintenance schedule is outlined in the owner's manual. 

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Leasing Options

Leasing is like renting, you only pay for what you use. Payments are based on the difference between the lease end value and the vehicle cost plus lease finance charges. Taxes will be included in the monthly payment rather than the full cost of the vehicle. Our Ceilidh Honda Future Value Lease is a full disclosure document and has been written in plain language.

The benefits of leasing your vehicle with Ceilidh Honda are:

• A new car more often: With lower monthly lease payments over a shorter period of time, you can drive a new vehicle more often.
• Low monthly payments: Lease payments are traditionally lower than retail payments on the same vehicle.
• Closed end lease: You can choose to purchase the vehicle for a pre-determined price shown on your lease contract plus applicable taxes or return it without further obligation. If you decide to return your car, all you have to do is make sure you have not exceeded your kilometer limit, that any outstanding fines have been paid, and there is no excess wear and tear on the vehicle.
• Automatic GAP Protection: If your leased vehicle is involved in an accident, vandalized or stolen the vehicle may have to be written off. To insurance companies a "write off" means fair market value minus your deductible. Your insurance settlement may not always satisfy your monetary obligation. Our Future Value Lease offers you protection against these situations. The monetary GAP between your insurance settlement less your deductible and your lease obligation is covered automatically by our GAP (Guaranteed Asset Protection). Some conditions may apply. See your local dealer for details.
• Flexible terms
• Keep more cash to use or invest  

Things to be taken into consideration:

• Insurance responsibility: You are responsible for insurance coverage. Required coverage typically is detailed in your lease agreement.
• Lease down payments: Down payments are not required on a lease. In a lease situation, you may choose to make a down payment in order to reduce the monthly lease payments.
• Cash due at delivery: Most lease agreements require a first monthly payment on delivery of the vehicle. A refundable security deposit and other miscellaneous fees.
• Maintenance responsibility: You are responsible for maintaining the automobile. A maintenance schedule is outlined in the owner's manual.
• Excessive wear and tear: Determined at end of a lease ie: dents, paint damage, missing equipment that was part of the vehicle, cracked or chipped glass, mechanical damage, holes, tears or burns to upholstery.
• Allowable kilometers: The yearly kilometer allowance with Ceilidh Honda is 24,000. At lease inception, you can purchase additional kilometers.
• Leased vehicle price (total vehicle price): Gives you the transaction price and is also used to calculate your lease payment. While taxes are not included in this price, it does include all equipment, accessories, freight and dealership fees.
• Total cost of lease transaction: The total cost of lease is the total monthly payments plus any amounts paid to reduce the cost of the vehicle ie: cash down payment, vehicle trade-in plus applicable taxes, vehicle licensing and registration fees.
• Lease rate and charges: The lease rate and associated charges are disclosed on our full disclosure contract.