First time turning in a lease. I’ve been leasing with Honda for over 10 years and I’ve always taken out another car so no worries about inspection/turn in fee/ wear and tear before.
I’m aware of the $350 turn in fee but my question is regarding the wear and tear. SGS report details $718.47, mainly two tires and roof wrap. Because Honda “allows” $500 in wear and tear, does this mean I’d be $218.47 out of pocket?
If so, I guess I’m better off turning it in and paying that difference without changing the tires or removing the roof wrap.
Was checking prices on tires and they’d be somewhere in the $200 for 2 so essentially the same I understand will be charged to me in excess of the $500 waiver.
Maybe I’m understanding incorrectly. Any help would be GREATLY appreciated
I also have a roof wrap that I attempted to remove with my brother but it’s been sun baked. I would assume I can turn it in like that and have someone at the dealership remove it? SGS report indicates exterior “repair” and that’s referring to the roof
From SGS Inspection website: “SGS Inspectors are not privy to lease provider policies, so please refer all questions regarding next steps or possible actions on your part to your lease provider.”
My take is that they gave you that amount without being aware of your lease contract and the $500 waiver. Better check with the bank holding your lease about the waiver and paying the difference
Yes, you are both correct. So my understanding would be that I’m responsible for $218. Being as that I haven’t turned in a lease before without taking out another Honda - I wanted to verify with others if I was understanding correctly
" [Will any of the charges on my final (end-of term) bill be waived for loyalty? ]
Yes, as a loyal customer (2), you can take advantage of an additional $500 Excessive Wear-and-Use or Damage Waiver (3) on the vehicle you are turning in (up to $1,000 total waived) and a waiver on the turn-in fee for your current vehicle.
(1) The turn-in fee amount depends on your state. See your lease contract for details.
(2) 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.
(3) Honda Leadership Leasing includes a $500 Excessive Wear-and-Use or Damage Waiver. Loyal customers may qualify for an additional waiver and may be eligible for a turn-in fee waiver. Total Excessive Wear-and-Use or Damage Waiver amount not to exceed $1,000. "
Update as maybe it’ll help someone else in the future. If you’re turning in your car without getting another, Honda will grant an allowance of $500 for wear and tear (not including excess mileage). In my case, anything over $500 I was responsible for. In this case, $218. Also, in some rare instances that amount gets waived for leasing Honda’s over 10 years and currently still leasing one in the household
I know this has been a closed case as of now, but this may help future readers. SGS report says $600 for a pair of new tires. Honda’s OEM tires from the manufacturer are hardly premium quality. They expect most leased vehicles to be returned or traded in after 3 years/ 36k miles, so they use the cheapest available tires. Why replace them with $600 a pair tires when you are not even going to use them. I’d shop around online for a pair of used tires with decent tread 6/32 or higher, for roughly $100 installed. Any SGS repair item(s) may be replaced/repaired at your local body shop at a lower price, you alway have that option. No need to pay dealer’s MSRP prices for replacement parts. After 20 years of leasing/buying experience with Honda, I have learned to play their game.
New update. When to a Florida dealer and he showed me the pricing for Honda EX 4 DR AWD 2020. He quoted marp for 31,000 and only brought it 29, 000 and he quoted me the residual value for my current 2018 CRV HONDA FWD at 19,500 and brought it up 20. But is offering me 300 monthly payments with 3000 or 400 for zero down. I think I can go better. Any comments ? [Uploading: 20201114_115336.jpg…]
