The funny thing through all of this is, when I spoke to Honda, the rep and her supervisor both informed me that the purpose of this fee is to ensure loyalty to the brand I promptly informed them that nickel and diming customers is the worst way to ensure loyalty to their brand. This was my second and likely last Honda for a while.
I have another lease coming up due soon where I had my eye on a 2.0T Accord Sport but I think I’ll look elsewhere…
I never said or assumed that the two amounts must match. What I said is that they usually are the same amount. At least, that’s been true in every lease contract that I’ve seen. I realize there may be exceptions. Some of the posts above make reference to a disposition fee. There is a difference between a purchase option fee and a disposition. I want to make sure everyone clearly understands. Geez, do have to spell everything out?
What I said was there is no purchase option fee in my Honda Lease Agreement (executed in Ohio). This does not, in any way, imply or suggest that this is universally true for all Honda lease agreements executed in other states or regions…
This is the part that I am referring to that @khezik isn’t paying attention to. Can you copy and paste the entire text relating to that portion of your contract? Thanks.
I don’t have it handy to post at the moment, I’ll try to dig it up tonight.
I’m just figuring that if Honda wanted to prevent me from selling the Odyssey to a used car dealer, they would have told the dealer that it wasn’t my car to sell and that he couldn’t buy it from me. But they gave him a price, and he gave me a check, so in my mind they approved the sale by providing a price to the dealer!
Yes. Fifteen months into my Honda Odyssey lease, I sold my car online to vroom.com. Vroom.com and Honda Leasing did most of the paperwork. My work was only at the beginning, when I created an account, received an offer from Vroom.com, and accepted it.
2016 Honda Odyssey Elite, leased in November 2016 which I sold to vroom.com thirteen months later. Mileage at the time of sale, 15,000 miles. I received $34,000, which was only $600 less than the Honda lease payoff amount at the time, and which was almost $2000 better than what CARMAX offered. In the end, I was only a little upside down in my car.
Well I have confirmed that even though we sold the van to a car dealer and did not “dispose” of it back to Honda Finance, the discrepancy between my buyout quote and what the dealer had to pay for the van was the $350 disposition (“turn-in”) fee + tax… Not sure this makes sense!!
Attached is a screen shot of my Honda account now showing as paid in full…
This means nothing other than Honda Financial changing entities when you are exercising the purchase option. It is likely a legal or tax thing as it just means you buy out the car from Honda Vehicle Exchange whatever that is.
I have no idea what you’re talking about. What means nothing? If you’re referring to buying out the vehicle, the turn-in fee is not applicable and should not, therefore, be assessed regardless of Honda’s agent.
So no real resolution with Honda on this one. I was able to have the Dealership use one of their sister Honda dealerships to pay the vehicle off and avoid the fee. It worked out, but if you ask me it’s a BS fee on Honda’s part, and their unwillingness to correct the issue is why I’ll be steering clear of Hondas for now.