Are your currently leasing one of our many 2022 Honda models like the Civic or HR-V? Or are you a driver in the Richmond, KY area looking to lease one? You're in luck, Gates Honda is a trusted Honda dealership with great leasing options for you! We are proud to help drivers in the Lexington-Fayette area their dream Honda lease!

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End of Leasing Steps at Gates Honda in Richmond, KY

Like all things, great things must come to an end. If you current have a leasing agreement with Gates Honda and it is about to expire see what your options are before your time is up. If you are a potential leasing client see what our Honda dealership has to offer you to fit your needs. Our sales and finance team are ready to work with you when it comes to finding the perfect Honda model for you and a plan that works for your needs.

No matter what your leasing agreement duration is, here are some helpful facts about what to expect when your leasing agreement is about to end. In general, the end of lease process begins about 90 days before a lease expires. Around that time, your lessor will contact you to remind you that your lease is coming to an end. Your lessor or an independent third-party will also contact you to arrange a vehicle inspection. During that inspection, an inspector will look for signs of wear and tear that are above normal or what’s reasonably expected. They will also make sure that all parts and accessories are back inside of your vehicle as well.

What to Expect After Inspection at Gates Honda

After the inspection, you’ll receive a list of all the instances where the inspector noticed excessive wear and tear. You can either repair these problems on your own or you can pay the dealership to address them when you surrender your Honda vehicle.

Because there’s so much riding on the pre-return inspection, you should prepare for it. Wash your automobile and have the inside detailed. Make sure you return everything you took out of your car to your vehicle. Some of the things that may have to be returned include your owner’s manual, spare tire, and fuel funnel if your car doesn’t have a gas cap.

To learn more about what you’ll need to do as the end of a lease draws near, contact our Honda dealership near Lexington, KY. Wait, we have an even better idea! Stop by Gates Honda today.

Terms To Know About Leasing

Normal wear and tear: It’s wear and tear that won’t cost more than average to fix.

Lessor: The business financing the lease.

Disposition Charge: This is a charge to clean and dispose of your car at the end of the lease. You may be able to negotiate it away if you buy the car or lease another from the same agency.

Payoff Amount: This is what it will cost you to buy the car at the end of the lease. It should be roughly the residual amount minus any security deposit.

*If have heard any other terminology that you do not understand please contact our finance department to help you understand the terms better!

End of Lease Options

After your lease goes through inspections what are the next steps? This is the fun part! You have three options when it comes to what comes after your lease expires:

Purchase or lease a new vehicle

Purchase your leased vehicle for the price stated in your Lease Agreement (plus any applicable taxes and/or fees)

Return your leased vehicle (after satisfying any lease-end obligations, such as mileage, wear and use charges and any applicable lease Disposition Fee)

Whatever your choice is after your leasing agreement is up we hope you find the right Honda for you at Gates Honda in Richmond, KY. We are always offering great deals on new and used vehicles as well as a service center that is ready to fix all your vehicle needs. Give us a call today to learn more about our deals or check out our 2022 Model Research page to learn more about our newest models.

Visit Us at Gates Honda in Richmond, KY

The staff at Gates Honda wants to thank you for choosing us to be your leasing choice. Our Honda vehicles are sure to fit into your needs and leasing is a great way to have flexibility and choices when you need it most. If you are new to leasing at Gates Honda or want to learn more about leasing check our FAQ here to learn more about leasing. If you have any questions feel free to contact us! Gates Honda looks forward to helping drivers in Lexington, Richmond, Nicholasville and surrounding areas find the perfect lease option for you!