End of Lease Options | Montgomeryville

End of Lease Options and Procedure

We hope you've enjoyed leasing your Honda vehicle. We want to continue to provide you with excellent service as you approach the end of your lease. We can help you through the entire lease end-of-term process.

This section provides an approximate timeline and steps to follow for the three typical lease-end options:

Option 1: Return your vehicle and lease a new one

Option 2: Return your leased vehicle to JL Freed Honda

Option 3: Purchase your leased vehicle by refinancing it with one of our preferred lenders

Option 4: Purchase your leased vehicle using proceeds from a bank or private lending source

Lease-End Process: Option 1

Return your vehicle and lease a new one.

If you select this option, follow these simple steps as you approach the end your lease.

Two to three months prior to lease-end: Contact JL Freed Honda to discuss the steps involved in returning your leased vehicle. We will set up an appointment to meet with one of our lease specialists to discuss what options are available to you.

Two months prior to lease-end: During the last two months of your lease term, you will be contacted by American Honda Finance to arrange for a free vehicle inspection to evaluate wear and use and related charges, if any. Having the inspection done well in advance of returning your vehicle allows you to be present for the inspection and gives you time to take care of any needed repairs. You will receive a Vehicle Inspection Report following the inspection. You will need to bring this to the dealership when turning your vehicle in.

When you take delivery of your new vehicle, please bring the following items with you from your old car:

All keys to the leased vehicle
Owner's manual and maintenance records
Vehicle Return Receipt & Odometer Disclosure Statement
Vehicle Inspection Report
Receipts for completed repairs, if any

We will then contact Honda to inform them that you have returned your vehicle.

If any end-of-term liabilities apply, they will be billed at a later time.

Lease-End Process: Option 2

Return your leased vehicle to the dealer.

One week prior to lease-end: Arrange an appointment to turn in your vehicle to JL Freed Honda. Begin to assemble the materials listed below.
At lease-end: At the appointed time, deliver your vehicle in clean condition to a lease specialist at JL Freed Honda. Please bring the following items with you:

All keys to the leased vehicle
Owner's manual and maintenance records
Vehicle Return Receipt & Odometer Disclosure Statement
Vehicle Inspection Report
Receipts for completed repairs, if any

After you turn in your vehicle: Contact the Turn-In Hotline at 1-800-351-6513 to inform us that you have returned your vehicle.

If all payments have been made, your call will prompt the completion process for your account, and you will no longer receive monthly statements.

If you have payments remaining on your account, it is still your responsibility to ensure that they are made.

If any end-of-term liabilities apply, they will be billed at a later time.

Lease-End Process: Option 3

Purchase your leased vehicle by refinancing it through American Finance, Merck Sharpe & Dohme Federal Credit Union, Chase Manhattan Bank or Beneficial Bank.

If you decide to finance your vehicle through JL Freed, there is no need to have it inspected. Just follow these easy steps.

Two to Three Months prior to the end of your lease, contact JL Freed Honda and make an appointment to meet with a lease specialist. You do not have to wait until the end of your lease contract to complete your purchase.

At your appointment, we will discuss what options are available to you and assist you in completing the purchase for your leased vehicle. You will be asked to fill out an updated credit application to be submitted to the lender to secure financing for the balance. We ask that all parties that will appear on the loan contract be present.

You will need to bring the following items:

Recent leasing statement from American Honda Finance
Driver’s licenses for those purchasing the vehicle
Proof of insurance for the vehicle
Current registration

After approval is secured, you will sign the necessary paperwork in the dealership, and we transfer ownership of the vehicle into your name. You will begin receiving statements from the lender within three to four weeks after the process is completed.

Lease-End Process: Option 4

Purchase your leased vehicle using proceeds from a bank or private lending source

If you decide to buy your vehicle, there is no need to have it inspected. Just follow these easy steps.

Step 1 - Obtain a Payoff Quote: To find out your purchase amount, you can get a payoff quote 24 hours a day, 7 days a week through our online Account Access or by calling our Express Payoff System at 1-800-708-6555.*

If you call for your payoff information by telephone, you may request, by mail, a written confirmation of your payoff quote, along with instructions and required documentation.

* The Express Payoff System cannot provide quotes on lease accounts in which the vehicle is garaged in AL, AK, AZ, or IL, or if certain conditions require that you speak with a Honda Financial Services Representative, Monday through Friday from 9 to 5 CST.

Step 2 - Notify us of your intent to purchase: Contact the Lease Maturity Center and let us know you intend to purchase the vehicle.

Step 3 - Provide payment and required documentation: Mail the full payoff amount (including state sales tax, if any) to the address below. If there is no outstanding balance on your account, the title will be mailed upon receipt of payment. It is important to verify Honda Financial Services has your current address on file to ensure you receive your title.

Because federal law requires that you disclose the mileage to us in connection with the transfer of ownership, you must submit a signed and dated Odometer Disclosure Statement.

Your check and Odometer Disclosure Statement should be mailed to:

Honda Finance Exchange, Inc. *
P.O. Box 70252
Philadelphia, PA 19176

If you are using a special delivery service such as FedEx, use the following address:
Honda Finance Exchange, Inc. *
Lockbox # 70252
101 N. Independence Mall East
Philadelphia, PA 19106

* Notice is hereby given that Honda Lease Trust has assigned all of its rights (but not obligations) to purchase and/or sell this vehicle to Honda Finance Exchange, Inc. pursuant to the Sub-Servicing and Master Exchange Agreement. Notice for New York and Virginia residents: The Trust designation is HVT, Inc., as Trustee for Honda Lease Trust.

Step 4 - Re-register your vehicle: State law requires that you transfer the title and vehicle registration into your own name and pay any applicable sales tax and/or fees. This can be completed at your local Department of Motor Vehicles. If you are registering the vehicle in Pennsylvania, this must be performed by a Pennsylvania authorized notary service.