Honda Begins Offering Early Lease Terminations on Civic, Accord

By

Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

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, Senior Pricing Analyst - December 10, 2015

One of the biggest appeals of leasing is the ability to drive home a new car every few years without being hit by depreciation. A new offer from Honda aims to capitalize on this with early lease terminations for current Civic and Accord lessees. Customers will be able to trade-up even sooner to the latest vehicles and technology. But is there really a reason to upgrade? And who's eligible? Here's what you need to know.

Deal overview

Starting December 10, eligible Civic and Accord lessees will begin receiving letters offering to have up to three remaining lease payments waived. Called a lease pull-ahead, the program will be offered to those with leases maturing after April 1, 2016.

Customers will have the opportunity to sign up for a new contract on any new Honda model. The program is national and set to expire October 1, 2016.

Analysis

When you consider that a lot has happened in terms of technology and quality, Honda's offer provides a great opportunity to upgrade sooner rather than later.

For example, the 2016 Accord now has available Honda Sensing active safety technology. The system costs as little as $1,000 and helps the car earn an IIHS Top Safety Pick+ rating. The car also features the latest connectivity with both Android Auto and Apple CarPlay.

Honda Accord

Drivers of the outgoing Civic have a good reason to upgrade because of a complete redesign for 2016. The new car features an improved fuel economy rating of up to 42 mpg with the new optional turbo engine and a sleek fastback design.

Honda Civic side

In terms of deals, the 2016 Accord is looking like a solid bet with a lease this month on the LX sedan of $199 per month for 39 months with $1,999 due at signing. There's also a $0 due at signing option for $250 per month.

Deals on the 2016 Civic have not yet been announced because supplies are still building. Instead, Honda has been working on clearing all 2015 models still sitting on lots. The 2015 Civic LX can now be leased from $149 per month for 39 months with $1,999 at signing. Big lease discounts make this a top-rated deal.

Learn more about the 2016 Honda Civic>>

Our take

Current Civic and Accord lessees already have some good reasons to trade up. Improvements in refinement and technology have the potential to improve daily driving considerably.

However, the best reason might be because 2016 models have been getting the latest safety technology. Honda's offer effectively provides a shortcut for customers looking to upgrade sooner than scheduled.

For an easy way to find the best deals, visit the CarsDirect Deals Page for the latest deal-related news and analyses. Browse expert buying advice updated monthly on nearly 300 models for insider insights you'll only find at CarsDirect. Be sure to sign up for email alerts to have the latest deals delivered straight to your inbox.

Offers listed here are based on a resident in Southern California and may be subject to change. Most lease offers are for well-qualified buyers based on available credit and exclude tax, license, title, registration, document fees and insurance. Not all buyers may qualify. Please check with your CarsDirect Trusted Dealer to confirm details and eligibility.

, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website