Frequently Asked Leasing Questions

FREQUENTLY ASKED QUESTIONS ABOUT THE LEASING PROCESS

Do I need to perform maintenance on a leased vehicle?

Yes. As part of your lease agreement, you are responsible for servicing your vehicle in accordance with the manufacturer's minimum recommendations and as requested by the manufacturer in connection with any recall campaign.

What are the insurance requirements for a leased vehicle?

You must maintain physical damage, comprehensive, and collision insurance coverage in accordance with your state-specific minimum requirements for the duration of your contract. Honda Lease Trust should be listed as an additional insured and loss payee. Please read your lease agreement carefully and contact your insurance agent for details on your state's requirements or information on coverage to suit your specific needs.

Where do I send my insurance information?

When leasing a new vehicle or changing insurance companies, please have your insurance agent provide appropriate evidence of insurance to Honda Lease Trust, naming it as Loss Payee and Additional Insured. This evidence should be mailed to:

Honda Lease Trust
c/o PDP Services
P.O. Box 650201
Hunt Valley, MD 21065

I typically drive more than 15,000 miles per year. Does that mean I shouldn't lease?

Not at all. Once your lease begins, you cannot change your mileage allowance. However, we have special lease programs that allow you to buy "up-front" mileage less expensively than you would pay at the conclusion of the lease. Plus, the cost of excess mileage is conveniently included in your monthly payment. If you do not use all the miles you purchase, no refund is made. Ask your Honda dealer for details.

I want to buy a vehicle Service contract. Can I include the cost in my lease payment?

I want to buy a vehicle Service contract. Can I include the cost in my lease payment?

What happens if my vehicle is stolen or "totaled" in an accident?

In these cases, your lease may be terminated early. Please contact Customer Service as soon as possible to notify us and discuss the next steps. But rest assured, all Honda leases include (Guaranteed Asset Protection) to protect you against unnecessary expenses.

If I lease, am I responsible for sales tax and property tax?

In some states, you pay sales tax that is based upon your monthly payments. Other states require you to pay tax on the full value of the vehicle. Property tax treatment varies from state to state as well. Ask your dealer for information about the tax regulations in your state.