Is your Honda lease coming to an end? If you have 90 days or less remaining in your lease term, it is time to think about preparations for the lease end. While you can bring it to any Honda dealership, it is wise to complete a pre-inspection to determine any excess wear and tear repairs, if any, and to ensure that you know what to expect. Love your Honda? You also have the option to buy the car you leased for its residual value. Or, you can trade in your current lease for a new Honda lease. With the current chip shortage affecting automotive manufacturing, it is even more important to take care of your current Honda so that you can drive it longer and get more value when it comes time to trade-in.
Lease End Options
You do not need to return your leased Honda to the same dealership from which you started the lease. However, you do need to return your Honda lease to a Honda dealership. You cannot return your Honda to any other automaker. Tracy Honda accepts all Honda lease returns no matter where you started your lease!
Make sure you are up to date on your payments and have no outstanding charges. Then decide whether you will:
- Buy your leased Honda
- Trade it for a new lease
- End your lease and return your Honda
If you decide to buy out your Honda lease, or lease-to-own, you will get the residual value from your current lease and pay the difference. Purchasing is a good option if you love your Honda, put very little mileage on it and have more residual value, or if you damaged it enough that it is not worth paying for the repairs and return. Try to avoid the last option!
You can also trade-in your lease for a new one. There are fees associated with this, but you can take advantage of a great new lease deal and speak with a Lease Return Specialist at Tracy Honda to determine if you can waive some of the costs.
If you decide to lease another Honda or purchase a Honda within 30 days of the lease return date, you are considered a Loyal Customer and may be eligible for an additional waiver*. You may also get the turn-in fee waived**.
If you choose to return your leased Honda and end it there, you will need to get it inspected for damage and go through the lease return process.
Excessive Wear and Tear
While you are free to visit any authorized Honda facility that uses Genuine Honda Parts, Tracy Honda can complete the pre-inspection. As an Official Honda Dealership and Authorized Honda Service Center, Tracy Honda can expertly inspect and repair your leased Honda.
A pre-inspection will help you determine what kind of costs to expect from any excess wear and tear. That way, you can get the repairs done prior to your lease return and avoid any surprise charges. The vehicle inspector will not drive your Honda but will need the keys in order to start the vehicle and test its functions. Be sure to clean your leased Honda before the inspection, but a complete detail is not necessary. Have all keys, manuals and records present – the glove box is a handy place for them. Save all of your receipts from any services or prior repairs – including any required after the pre-inspection.
Once the pre-inspection is complete, the vehicle inspector will provide a written report detailing any repairs and their expected costs. You can choose where to have the repairs done or return your lease and pay for the repairs made at the dealership. Honda Leadership Leases include a $500 Excessive Wear-and-Use or Damage Waiver to help you with any minor repairs.
What is considered “excessive wear and tear”†?
- Dings, scratches, dents on the exterior
- Tears, stains, cigarette burns, or damage to the interior
- Cracks on any glass (windows, moonroof, etc.)
- Broken or cracked lights
- Excessive wear on the tires or tires that don’t match
- Major damages
Once you have determined whether your leased Honda requires repairs, you can have them done prior to returning your lease or have them done after you have completed your lease return. You will be billed once they are completed. No charges will be made to your account until the vehicle is turned in.
Be sure to turn your leased Honda in no later than the end date of your agreement, or you may pay late fees.
Every Honda lease stipulates a maximum mileage amount and a cost per mile over that amount. To determine how much you may need to pay for excess miles, calculate how many miles you are over and multiply by the fee stated in your lease agreement. If you did not use up your allotted mileage, you may be eligible for a positive trade value to use as a down payment on your next Honda lease or purchase.
Tracy Honda in Tracy, California, has a dedicated team of Lease Return Specialists. We are here to help you avoid fees for excess wear and tear, avoid penalties for excess mileage, and will help you explore all of your options whether you decide to end or extend your lease or purchase your Honda. We can also help you trade up to a new Honda for the same or lower payments! Our Lease End Consultations are always free. Click here to learn more and set up your free consultation.
Tracy Honda in Tracy, CA, is an Official Honda dealership and authorized Honda Service Center. We are your one-stop-Honda-shop. Our friendly, knowledgeable team will help make leasing your Honda a stress-free experience so that you can enjoy driving your Honda with more peace of mind. Visit Tracy Honda in Tracy, California. Despite the chip shortage, we still have a large selection of new Hondas!
†For educational purposes only, not an exhaustive list.
*A loyal customer is one who purchases or leases another new Honda or Acura automobile within 30 days prior to or after the turn-in date. Total amount waived not to exceed $1,000.
**The turn-in fee amount depends on your state. See your lease contract for details. For specific benefit information on your current HFS lease contract, please log in to your HFS account and select End-of-Term.