Honda Lease Returns At Checkered Flag in Norfolk, VA
Return Your Honda Lease To Us
Any Honda Lessee can take advantage of the Easy Lease Return at Checkered Flag Honda, whether you leased from Checkered Flag or not. You can call, email, or visit us at 6541 E. Virginia Beach Blvd. For SCRA lease terminations, please call ahead to schedule an appointment.
Lease End Options
Sell it to Checkered Flag Honda
The first option is to sell your Honda to us. This would only apply if the current market value of your vehicle is greater than the residual value (or current payoff amount). You can get an estimated value here. Should this be the case, we will pay off the remaining balance, and you keep the rest! For example – if you have a vehicle with a residual value/payoff of $15,000, and it is worth $16,000, you can sell it to us. We will pay off the $15,000, and you will receive the remaining $1000 as a personal check. To find your residual or payoff, you can call Honda Financial Services.
Trade it in to Checkered Flag Honda
Assuming your vehicle is worth more than the residual/payoff, another option is use that credit towards your next vehicle. It can be used on a new Honda, certified pre-owned Honda, or any used car we have in stock! The total amount due to you would just be subtracted from the price of the replacement vehicle.
Purchase it outright
Do you love your Honda and want to keep driving that exact vehicle? Another option is to purchase your vehicle outright. You can do this in one of two ways.
- Pay for the current residual/payoff of the vehicle all at once
- Secure financing for the remainder of the balance
Either way, Checkered Flag Honda has the ability to help secure the title, or secure financing for the balance due.
Turn it in to Checkered Flag Honda
The final option is to turn the vehicle in to Checkered Flag Honda. From here, you are free to purchase another new Honda, certified pre-owned Honda, any used vehicle, or do nothing…the choice is yours!
SCRA (Servicemembers Civil Relief Act)
If you are military, you may qualify to terminate your lease early. According to military.com, you can terminate your lease if:
- You have a lease and enter active duty or are activated for at least 180 days); or
- You have a lease and get PCS orders OCONUS or deploy OCONUS for at least 180 days.
For this type of lease termination, we recommend that you call us to schedule your lease turn in, as there may be additional paperwork required before visiting the dealership. Either way, Checkered Flag Honda can walk you through that process.
Lease Turn In Process
Within 90 days of lease maturity, Honda will reach out to you to schedule a condition inspection. The results of this report will determine if any further charges may apply (excess mileage, poor condition, etc.).
Should you decide to turn in your lease, simply bring your vehicle to Checkered Flag Honda for final inspection. During our final inspection, we will verify:
- All keys present
- Current mileage
- Correct VIN
- Owner’s manual present
- All seats present
- Spare tire present
If the condition inspection has been completed before your visit to Checkered Flag Honda, we will confirm the condition upon your arrival. If the report has not been completed, we will schedule the report to be assessed here, typically within 2 business days.
After everything passes final inspection, you will be provided a receipt, and the lease process is complete.