Call Us:
Call Us:
303-416-8484
Open Today Sales: 9 AM-8 PMOpen Today Service: 7 AM-6 PM
Date: April 29th, 2021
For some people, buying a new car is the best option. For others, a Honda lease works wonders. Which one is right for you? Review the pros and cons of Honda leasing vs. financing/buying to find out.
Yes, you’re more than welcome to trade your current vehicle and lower the cost of your down payment or lease payments. If you have positive equity, it’s a simple trade-and-drive.
When you are in our Honda Finance office, signing your lease, you’ll be asked if you’d like any protection plans added to your lease contract. One of those is a tire/wheel protection plan. We highly recommend taking advantage of this option, especially if you’re leasing a Honda sedan, like the 2022 Civic, Accord or Insight with low-profile tires.
While your Honda warranty covers tire defects, it excludes problems like bent rims, tire punctures, or any wheel damage. Your Honda tire and wheel protection package will cover any of those issues that would require you to pay for new tires or parts.
Remember: You must return your Honda lease with the same matching tires. Just one unrepairable flat tire—which would likely be caused by a sidewall puncture—would require you to purchase a new set, which could cost you over $600. Over the life of your Honda lease, an added wheel/tire protection plan would be far less than $600, meaning it would pay for itself after just one nasty encounter with a pothole or curb.
For more information or to get a quote on a Honda tire and wheel protection or Honda Care Maintenance plan, contact a team member at our Centennial Honda dealership.
When you lease a vehicle, you’re restricted to driving a specific number of miles per year. This is usually 10,000 or 12,000 miles, though you can prepay for extra mileage at a certain rate.
It’s important to know and obey your lease mileage limit. If you go over, you’ll be charged extra per mile; for Honda leases, this mileage penalty rate is typically between $0.15-$0.20 per mile. Should you return your lease with 1,000 miles over the limit, you’ll be penalized $200, for instance.
GAP coverage, or Guaranteed Assed Protection coverage, is a type of coverage that will pay any balance on your lease (or loan) in the event your vehicle is totaled in a crash or stolen. It is usually an option to add to your auto insurance or auto loan, but all Honda leases include GAP coverage for free.
Ask our Kuni Honda Finance Department for more information about Honda GAP lease protection.
It’s not necessary to have your lease inspected prior to your lease maturity date—your Honda dealer can do this when you return your vehicle. However, it’s strongly suggested. A lease inspection will ensure you aren’t hit with fees for excessive wear and tear.
Schedule your end-of-lease Honda inspection online here or by calling Honda Financial Services at 1-800-340-4080. If you need more assistance or have questions about the Honda lease-end process, contact Kuni Honda on Arapahoe or your Honda dealer.
While our Honda dealership near Denver would love to take your lease back (and get you into another new Honda), you’re not required to return your lease to any specific dealer. If you return the vehicle and all keys to an authorized Honda dealer, you’re golden.
You can bring your Honda lease to a dealer anytime, though it’s best to schedule an appointment. At least one week in advance of your planned return, contact your Honda dealer to make that lease-end appointment.
Be sure to bring the following along with you:
Don’t forget to remove your license plate and all items, clean your car and have any cosmetic issues repaired so the vehicle is in the same condition as it was when you leased it. Your lease inspection will uncover any potential problems that could be considered Excessive Wear and Use, which you can then remedy at a body shop or auto service center near you.
Once you’ve returned your leased Honda, you should contact your auto insurance company to change your information, as well as the Honda Lease Maturity Center (1-800-708-6555).
Excessive wear and use, or excessive wear and tear, is a broad category of damage that would lower the potential resale value of your vehicle. Normal wear and use/tear includes:
Because the list of excessive wear and use/tear can be extensive, here are a few examples that would cost you extra in fees:
As a reminder, your Honda lease includes an Excessive Wear-and-Use Damage Waiver. The amount of this waiver will be written on your lease contract, but it typically will be $500 or up to $1,000 for Loyal Honda customers.
Choosing to purchase your leased car or return it to the dealer depends on a few factors. If any of these situations sound familiar, buying your lease might be a good idea:
In many cases, however, it’s in your best interest to return your lease and re-lease or buy another car. There are fewer hassles this way, and you avoid paying tax and other turn-in fees.
If you’d like to learn more about leasing a Honda in Denver or returning your lease to our Honda dealership near Aurora, please call Kuni Honda at (720) 636-7000. Our Centennial car dealership is located at 10750 E Arapahoe Rd, and our staff would be proud to assist you.
