If you can lease a new car, why not a Certified Pre-Owned used car? That notion would seem to offer even lower payments since the depreciation over the term of the lease would be less. To date, however, that idea has not caught on, but now Honda is — very tentatively — testing the waters of CPO car leasing.
For the program, Honda has hooked up with Fair.com, a used-car leasing site that was started a few years ago. Fair offers the ability to lease a used car on either a month-by-month basis or for a fixed term, and charges a start payment (down payment) along with a monthly fee that also includes routine maintenance and roadside assistance.
The Honda program is run through Fair and is limited to six dealerships in Southern California as well as 13 Honda and Acura stores in Florida. This is the first tie-up between Fair and an automaker. Fair handles the paperwork (done electronically via the company's app) and even can deliver the vehicle, so a customer need never set foot in the dealership.
The program is set to run for six months, after which Honda will reevaluate its participation.