Acura Lease End Options
As your vehicle lease nears its end, you’ll have to prepare for a big decision. In the final six months of your lease, you should explore your end-of-lease options and prepare for whichever one you choose.
What are the Acura lease-end options and which is best for you?
In this guide, we dive into everything you need to know about the end of your Acura lease.
Table of Contents
Acura Vehicle Inspection
Whether you plan to lease another Acura or not, you must arrange a vehicle inspection for the vehicle you will return. Acura recommends scheduling a pre-termination inspection two months prior to the vehicle return if you exceeded mileage or have excessive wear and tear. This gives you time to handle repairs. The pre-termination inspection is free, and the inspector travels to a convenient location for you.
It’s best to be present for the inspection. During the inspection, the inspector will not drive the car. However, they will start the vehicle and test all electrical components. The inspector will provide you with an inspection report with all of the results. You will also receive a Preliminary End-of-Lease Statement outlining estimated costs if you exceeded mileage or have excessive wear and tear.
Here’s what you need to do to prepare for the inspection:
- Clean the inside and outside of the vehicle ( you do not need to have it detailed though)
- Remove all items, including child seats, from the vehicle.
- Ensure all of the manuals, original accessories, maintenance records, and keys are present.
- Provide enough light and space for the inspection.
Option 1: Return Acura Lease
If you plan to lease or buy a vehicle from another manufacturer, returning your Acura at the end of the lease may be the best option. Here are the steps for returning the lease:
- 2-3 Months Before: Discuss the return process with the Lease Maturity Center.
- 2-3 Months Before: Obtain a pre-termination inspection report.
- One Week Before: Schedule a lease return appointment with your Acura Dealer.
- At the Appointment: Return your vehicle in clean condition. You’ll need to bring all of the vehicle keys, the maintenance record, the owner’s manual, the Vehicle Return Receipt, the inspection report, and receipts for completed repairs.
- After the Vehicle Return: Let the Vehicle Maturity Center know you’ve returned your vehicle. As long as all payments have been made, your return is complete.
Option 2: Purchase Acura Lease
Those who love their Acura vehicle and want to use it for years to come may decide to purchase their leased vehicle with a lease buyout. Here’s how:
- There’s no inspection required.
- Log in to your account and obtain a payoff quote online.
- Notify the Lease Maturity Center of your intent to purchase.
- Send the full payoff amount (including state sales tax) to Honda Finance Exchange, Inc. P.O. Box 70252 Philadelphia, PA 19176 or online.
- If you prefer or cannot pay off the vehicle all at once, then you can finance the lease purchase through the Acura dealer.
- Re-register the vehicle at the Department of Motor Vehicles after purchasing it in your own name. You will have to pay state sales tax or any other required DMV fees.
Option 3: Return & Lease New Acura
Returning a current Acura lease and leasing a new one is a common choice for leasees who enjoyed their vehicle. The timeline for leasing a new Acura upon returning your current vehicle include:
- 6 Months Before Lease-End: Research current models on Acura.com
- 6 Months Before Lease-End: Schedule a test drive with an Acura dealer.
- 2-3 Months Before Lease-End: Learn more about the process of returning your vehicle by contacting the Lease Maturity Center. Here you can also ask if you qualify for Acura Loyalty Advantage benefits.
- 2-3 Months Before Lease-End: Obtain a pre-termination inspection prior to returning your vehicle. This inspection will tell you if you are responsible for paying excessive mileage or wear and tear charges.
- One Week Before Lease-End: Schedule an appointment to return the vehicle with your Acura dealer.
- During the Appointment: Bring all vehicle keys, the maintenance records, owner’s manual, vehicle return receipt, vehicle inspection report, and receipts for completed repairs. After completing the vehicle return, you can work with the dealer to set up a lease on a new vehicle.
Option 4: Extend Acura Lease
Acura financial services only list returning the Acura and leasing a new one, purchasing the leased Acura, and returning the Acura as lease-end options. They do not explicitly state any procedure for extending a lease.
However, some dealerships may be willing to extend your lease. For example, Oakland Acura offers a month-to-month lease extension for up to one year. You can request a lease extension by contacting the Acura Financial Services Lease Maturity Center or AcuraFinancialServices.com.
Acura Lease-End Fees
The turn-in fee varies depending on your state and lease contract. You’ll need to consult your lease contract for details. Fortunately, Acura does not charge a disposition fee like many other manufacturers.
Acura charges lease-end fees for excessive wear and tear and exceeding the mileage limit. If you know you will exceed the standard lease mileage allowance, you should consider a high mileage lease from the beginning.
Acura has laid out what dictates excessive wear and tear in this helpful guide, but a few examples include:
- 4+ dings per panel
- Dents, or damage larger than 1.5”
- Stained, damaged, or etched paint
- Windshield cracks, stars, and bullseyes
- Interior burns
- Broken amenities or features
- Broken/bent wheels or rims
- Broken mirrors
Upon returning the Acura lease, you must have made all payments on your account. If you have payments remaining, you will continue to be billed for them.
Acura Lease-End Benefits
Those who lease a new Acura or Honda within 30 days of their lease ending may qualify for the Acura Loyalty Advantage program. The loyalty program offers lease-end benefits including mileage forgiveness, momentum miles, and more.
Mileage forgiveness can waive part of all of your fees for exceeding mileage. Mileage forgiveness waives half of your excess mileage up to 7,500 miles. If you lease another Acura, they will also add 1,000 miles to your new Acura base mileage amount. Furthermore, you can be rewarded for driving fewer than your contracted miles, up to 15,000 unused miles can be added to your next Acura lease.
The loyalty program includes a $750 Excessive Wear-and-Use or Damage Waiver on the current lease as well. You can also receive a waiver for the turn-in fee of your lease.
Frequently Asked Questions
What are my options at the end of the Acura lease?
At the end of your Acura lease, you can return your vehicle and lease a new Acura, purchase the leased Acura, or return the Acura. You may be able to extend your lease, but you must speak with your dealership and contact Acura Finacial Services to find out about the lease extension.
Where can I return my Acura lease?
You can return your leased Acura to any franchised dealer. You will select the location when scheduling your return appointment.
What do I need to bring with me when I return my Acura lease?
To ensure a smooth returns process, you must bring a clean vehicle, maintenance records, the owner manuals, all sets of keys, the inspection report, and your lease contract. You should also bring an acceptable form of identification, like a driver’s license.
Is my residual value, purchase price, or end-of-lease fees negotiable with Acura?
It will be extremely difficult to negotiate the lease terms at the end of the lease.
Can I return my Acura lease before the lease-end date?
You can return your Acura lease early, but you’ll likely have hefty fees to pay. Review your lease for early-termination fees. Consider an alternative to ending the lease early.
What charges am I responsible for when my Acura lease ends?
When your Acura lease ends, you’ll have to pay a turn-in fee that’s outlined in your lease contract. You may have to pay additional fees for excessive wear and tear or exceeding the mileage limits.
What constitutes wear and tear for Acura?
Large scratches or dents, an abundance of knicks, cracked glass, and broken electrical components are examples of excessive wear and tear for Acura. Acura clearly lays out what they consider wear and tear in this simple guide.