You are responsible for all remaining lease payments when you terminate a lease before the end. However if your dealer appraises the vehicle at a wholesale price that meets or exceeds your remaining liability you may be able to terminate the lease with no penalty to you. If your current vehicle appraises at a lower wholesale value than your current liability than they will most likely offer you the option of rolling the remaining liability into a new loan. Either way be very careful of the bottom line numbers and do not fixate on any other part of the transaction. Know what you can afford to pay on a monthly basis and do not exceed that figure.
〉 Answered on Jun 4th, 2008 by Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company (Retired)
You can turn the car in early, but you will be responsible for the balance of the payments on the lease. Check the cost of ownership for the Prius, it may be higher because they can be more expensive to maintain than your Honda. Good Luck!
〉 Answered on Jun 4th, 2008 by Jenny Trostel, Partner at Anderson of Hunt Valley
Upon returning a lease you need to have the vehicle inspected. This can be done at any Honda dealer. However, you may want to call to see if you need to schedule an appointment. After the inspection, typically you would need to pay what is remaining on the lease before you turn it in. Throughout each region the Honda Manufacturer periodically runs a
〉 Answered on Jun 4th, 2008 by Lisa Schomp, Owner/CEO at Ralph Schomp Automotive