How to Lease a Honda in Alexandria, VA
Leave regrets in the past when you lease a Honda vehicle from Sheehy Honda of Alexandria! If you’re not sure how to get started, you’re in luck, as we’ve designed this overview to help you get started. Afterward, you can give us a call if you have any further questions you’d like to have answered.
What a Lease Actually Is
When you lease a car for your Northern Virginia trips, you are not buying it. You are paying for the right to use it for a fixed period of time, typically 24, 36, or 48 months. At the end of the term, you return the vehicle, purchase it at a predetermined price, or trade into a new lease. The monthly payment on a lease is generally lower than a financing payment on the same vehicle because you are only paying for the portion of the car's value you consume during the lease term, not the full purchase price.
Key Terms to Know
Two figures drive your monthly lease payment more than anything else. The first is the capitalized cost, which is the negotiated selling price of the vehicle minus any down payment, rebates, or trade-in credit. The second is the residual value, which is the projected worth of the car at the end of the lease, expressed as a percentage of the manufacturer's suggested retail price. A higher residual value means lower monthly payments, because less of the car's value is being used up. The money factor is the lease equivalent of an interest rate. It is a small decimal number — often something like 0.00125 — that you can convert to an approximate annual percentage rate by multiplying it by 2,400. Lenders set the money factor, and it can vary based on your credit tier and current manufacturer incentives. If you have any questions concerning this, speak with our dealership team.
Mileage and Wear
Every lease comes with an annual mileage allowance, commonly 10,000, 12,000, or 15,000 miles per year. Exceeding that allowance during your Ben Brenman Park visits results in a per-mile charge at lease end. If you drive more than average, it often makes sense to negotiate a higher mileage limit upfront, where the additional cost per mile is lower than the overage penalty. Normal wear and tear is expected over the life of a lease. Excessive wear — deep scratches, damaged upholstery, worn tires beyond normal use — may result in charges at return. Most manufacturers offer a wear and use guide that outlines what is and is not acceptable, and reviewing it before turning in the vehicle is worthwhile.
The Lease End Decision
About 90 days before your lease ends, you will receive information about your options. If you want to keep the vehicle, the buyout price will be based on the residual value established at signing, plus any applicable fees. If the car's market value has risen above the residual, buying it out can represent genuine value. If not, returning it and leasing or purchasing something new is often the practical path. Leasing works well for people who want predictable payments, prefer to drive a newer model every few years, and drive a consistent, moderate number of miles annually. Understanding the mechanics ahead of time makes the entire process more straightforward. Contact our dealership if you’re ready to get started!
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Testimonials
Best pricing in the area!
Outstanding
“ Outstanding. The team was incredible to work with. I am very satisfied! ”
Great place to purchase a vehicle.
“ Great place to purchase a vehicle. They are very honest, open, and upfront with pricing and the quality of the vehicle that I purchased. They are very helpful in fixing any issues that may arise in my new vehicle. Our salesman gave me plenty of time to drive the vehicle. No pressure salesperson. The financing department was exceptional in explaining the contract and stipulations. Any questions we had. They answered and made sure I was a satisfied customer. The manager was very helpful. They were fast and efficient with any questions and answers. I would recommend Sheehy to anyone who wants to buy a quality vehicle and be treated with dignity and respect the whole time. Very polite people. ”
Sheehy Honda of Alexandria is a wonderful place to get a car and get treated extremely well.
“ Let me just saying this was one of the most amazing experiences I’ve ever had. My husband My Daughter and myself walked into the dealership to buy her a car. Upon arriving Mag (I changed his name to Mr.Magnificent ”
I wish I could give Sheehy Honda of Alexandria a 10 star rating.
“ I wish I could give Sheehy Honda of Alexandria a 10 star rating. From the moment I walked into the door to signing the last page of documents, the experience was immaculate. After visiting another Honda dealership and having the less than a 1 star experience the previous day, visiting sheehy was a breath of fresh air. Pablo Ahmed assisted my husband and I upon walking into the dealership. We knew exactly what we were looking for and did not want to be hassled and coerced into purchasing. He listen to our needs and presented us with our options. He was very attentive, professional and straight forward. After a few minutes we met with chuck ( I believe he was the finance manager), he was very professional, respectful and answered every question that arose. He was very forthright and within no time we sealed a deal for our new 2024 Honda Accord. The finance manager who handled our documentation was very professional, he explained everything very thoroughly and we were in and out in no time. Overall, this was by far the best car buying experience I have ever had. Thank you to the Sheehy team for fantastic customer service. You all were so warm and welcoming and my husband and I left the dealership feeling proud of our purchase. ”
I will definitely be bringing my car back.
“ I went to get a state inspection and emissions done and also get a recall checked out on my 2022 civic. It was a little late in the day so I wasn’t sure if they would have time for me. The service manager (Vijay) was extremely helpful and swift to get my car moving along into the shop so no time was wasted and was also helping out the only service advisor (Richard) that was there. Both were very polite and helpful and Richard even advised that I didn’t need an emissions since my car was still 3 years new so he saved me $28. my car was in and out in no time and all the staff there was awesome. I will definitely be bringing my car back. ”
Sheehy has earned our business, trust, and we definitely plan to continue purchasing from them in the future.
“ Recently purchased a brand new 2024 Honda at Sheehy. Can’t be more grateful from their attentiveness and great customer service during the whole purchasing process. After visiting a different Honda dealership that was probably not interested in selling based on their poor attention and customer service, we chose to visit Sheehy and we have zero regrets coming here. From the initial interaction with Roxy and Nzodo, they both were very welcoming and did their best to give us a great deal with everything explained very well and honestly. We were motivated and chose to immediately purchase the vehicle with them and not look for other dealerships. At the end, the finance manager made the purchasing/payment process very smooth and clear and we left with a brand new Honda. Sheehy has earned our business, trust, and we definitely plan to continue purchasing from them in the future. ”
“ Sheehy Honda of Alexandria offered the best pricing in the area, and as expected, the quality and reliability of Honda were reflected in their customer service as well. We had the pleasure of working with Ayesha, who was energetic and focused on helping us find the right car rather than simply selling the brand. Although we encountered a minor issue during the transaction, Ayesha and the management team were quick to step in and ensure everything was handled fairly and professionally. Both Ayesha and Nicholas kept us informed throughout the entire process and provided excellent customer service from start to finish. Their communication, dedication, and willingness to help made our experience a positive one. We would definitely recommend Sheehy Honda of Alexandria to our friends. Thank you, Sheehy Honda of Alexandria! ”