Honda Leases 5-Year-Old Cars Since New Are Too Pricey

Honda has announced significant updates to its Certified Pre-Owned (CPO) program, introducing a lease option for certain CPO vehicles. The focus is on providing more choices and flexible costs, particularly targeting younger, first-time buyers.

According to Dan Rodriguez, Honda's senior manager of auto remarketing, the increasing prices of new vehicles underscore the importance of leasing Honda-certified used vehicles as a gateway to ownership for the younger demographic. The lease option involves a set term, allowing lessees to return the CPO vehicle or purchase it at a predetermined price.

Eligible CPO vehicles can be from the current model year or up to five years old. While HondaTrue Used, launched in 2022, covers pre-owned vehicles up to 10 years old, leasing is not an option. Honda Certified Pre-Owned leasing is specifically available for current model-year vehicles and those up to five years old. Beyond that, used cars with Honda support are available for purchase only. This program includes a warranty covering 100 days and 5,000 miles for both powertrain and non-powertrain components.

HondaTrue+ Certified cars boast 60 months, or 86,000 miles, of non-powertrain coverage and 84 months, or 100,000 miles, of powertrain coverage. HondaTrue Certified maintains powertrain coverage but reduces the non-powertrain warranty to 12 months or 12,000 miles for vehicles outside the factory warranty. For those with remaining factory coverage, the warranty extends to 48 months or 48,000 miles.