overkast

Hello All,

I'm looking for some information regarding the termination of my current lease so I can purchase my TSX. I currently have a 1999 Honda Accord (lease) and I'm not aware as to what to expect in terms of fees and charges for 'wear-n-tear'. What's consider excessive and what's consider normal. I have a ding from a shopping cart and a chip in the windshield, which I'm sure I'll have to fix before dropping off the vehicle. I also have some minor scratches (in my opinion), but I'm not sure that my opinion counts or if they're consider minor. I know I'll have to pay for the excess mileage.

Someone told me that I'll be penalize for not having the same tire rating e.g. H series vs. S series...I don't know. Has anyone dropped off the vehicle at the end of the lease and had to pay more than $2K for the "wear-n-tear"...including excess mileage?

Any information would be greatly appreciated. I just need to know what ball park I'm looking to pay, and how much to come up with for a down payment on the TSX. I will never lease another vehicle again...too much of a bad experience for me.

Thanks in advance.

chrisalberts

There is no generic answer to this, it depends on the car company involved. For example, Nissan have historically used the lease return process as a way to make money by picking up every little thing (I believe there was a class action suit over it).

Some companies allow scratches that are smaller than a certain size, and many will tell you the size.

Generally, everything must work - engine, transmission, clutch, a/c, power accessories. Usually they require 4 matching tires with ok tread all of the same quality as the originals, and a good spare.

If you want the full skinny for Honda, go to http://www.hondafinancialservices.co...inspection.asp
and print yourself out a reference card with a checklist on. Then schedule a pre-inspection, then get stuff fixed on your own. Then turn the car in with no surprises or hidden costs.

C.

KC 2004 TSX

Is your lease through American Honda? If it is... Your local Acura dealer will have all the info you need. The above link is good too.

If it through an independent lease company you must be sure there are no early termination fees. If there are make sure it's an amount you feel comfortable with.

Buff-Daddy

If you are trying to get out of your lease early, you will usually have to pay (A LOT) to get out of it.
As far as damage goes, if you lease or buy a new Honda product from that same dealer, they will overlook all of the wear-n-tear and excess milage. They just want to keep you in the family. Unfortunately, you wouldn't be able to get into a TSX, but it might save you some money, depending on the extent of your damage/milage. It is also the end of the Honda clearance event and they are selling cars off near invoice. Just a thought...

overkast

chrisalberts: thanks for the link...I will definitely check it out.

wolfeacura: my lease is through Bank of America

Buff-Daddy: thanks for your input and suggestion, but I really dislike this Honda Accord and would opt not to purchase the vehicle.

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This lease has exactly one year to go before I drop it off. I will not be terminating this lease early because of the end result of forking out about $5K of negative equity...no thanks. So, I will live out the lease of the vehicle. When I contacted Bank of America, they suggest getting any noticable damages fixed before an appraiser comes. Otherwise if I wait for the appraiser to tell me what's wrong, then fixed the known issues, it will cost me about another $300 to have him come back out and amend the changes. Bank of America also stated that there can't be any chips on the windshield, scratches or dings larger than an inch will count against me. The car will be 5 years old...of course it will have a few here and there...right? Now the dings and dents aren't that big with the exception of the one that was hit by a shopping cart...but I'll fix that one. About the tires...they are in good "tread-wear" condition, but they are a different series rating (lower than originals) than the originals...would that count against me, or is good "tread-wear" satisfactory.

I know I have one more year to go before I can get into the 2005 TSX, but all this stress related to this current lease sucks!

-Thanks again for your input.

jackspat2

www.leaseguide.com

Buff-Daddy

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I wasn't suggesting that you purchase your current vehicle, I was just saying that if you bought a different vehicle from that same dealership (for instance a new Accord Coupe) they would still be willing to waive the damage and excessive milage on your old car. They do that sort of thing to keep you as a customer, even if it is a different car. The TSX is a more appealing vehicle, but if you have to pay in $2,500 just to get rid of your Accord, that might not be worth it...