As your Honda lease ends, you might wonder what to do next. At Interstate Honda, we offer two main options for lease-end decisions: returning the vehicle or opting for a Honda lease buyout. We’ll review how a lease buyout works to help you determine if it's the right choice.
Early Lease Buyout
This option allows you to buy the vehicle before the lease ends. If you’ve already incurred significant wear or have gone far over your mileage allotment, this can help you avoid penalties. Review your lease terms to ensure this is permitted and financially sensible.
Lease-End Buyout
The more common choice involves purchasing your Honda vehicle for its agreed-upon residual value at the lease's start. Opting for a lease-end buyout is ideal if you are satisfied with the car, it has required minimal repairs, and you can secure a favorable financing rate. You benefit from knowing the vehicle’s history, which removes the uncertainties associated with buying a pre-owned vehicle.
How to Proceed with a Honda Lease Buyout
If you're leaning towards a buyout, discuss your intentions as your lease ends. We can provide specifics about the buyout process and any potential fees. If financing the buyout, seeking pre-approval to understand your finance options is wise. Negotiations may also secure a more favorable buyout price.
Explore Your Honda Lease Options in Chehalis, WA
Visit us at Interstate Honda in Chehalis, WA, to discuss your Honda lease buyout options. Our knowledgeable staff is here to assist you in navigating your choices and ensuring that you make the best decision for your situation. If you decide to return your lease, we always have a wide range of new vehicles for you to pick from!
