Welcome to the Lease Renewal Department at Sherwood Honda. To obtain the highest level of customer service possible, our Renewal Specialists strive to achieve the best rates along with the finest vehicle to suit your needs. Our top priority is to make your lease renewal effortless and hassle free. Please feel free to contact us with your questions and concerns, we will be happy to assist you.

Email: info@Sherwoodhonda.ca

Why Lease!

Leasing is as simple as traditional financing but has several advantages. With traditional financing, you purchase a car or truck, make a down payment and agree to pay for the vehicle over the life of the finance contract - plus any interest on the loan. These loan agreements usually range between four and five years. With leasing, you pay only the portion of the vehicle's worth that you anticipate using- over the term of the lease - plus any lease charges. By choosing Honda Finance Lease, you can select convenient terms from 24 through 48-months.
At the end of your Honda Finance Lease, you have three options after you fulfill all of your lease obligations:
Return the vehicle and lease a new one, or
Purchase the vehicle at a predetermined price and keep it, or
Return the vehicle and walk away

Lease A Vehicle - Features & Benefits

Honda Finance Lease provides significant advantages over many leases that are available from other automakers, car dealers, financing companies, credit unions and banks. Helping you understand what you're paying for is important to us. You are provided with a detailed, step-by-step review of the vehicles final cost, down payment, cash or rebate amounts, and the lease charges involved so you know how your dealership arrived at your monthly lease payment.
Honda Finance is proud to be a member of the Canadian Vehicle Manufacturing Association with members that have adopted the Full Disclosure Lease.

Unique Features

Honda Finance offers a variety of lease terms designed to meet your needs. We offer 24, 36, 48 and 60-month leases for both new and used vehicles. Listed below are some of the Honda Finance Lease details.

Lease A Vehicle - Lease-End Process

Honda Finance designed the lease end process with you in mind. Through this site, you will find information covering subjects like lease end options, turning in you vehicle, wear and tear standards and more. Moving from one lease to another is easy.
Through this site, you will find information covering the following subjects:
Your lease end options with Honda Finance Lease
Turning in your vehicle
What is involved with a lease end vehicle inspection
Lease end wear and tear standards

As the end of your lease approaches, Honda Finance Lease provides you with three great options:

1) Return the vehicle and lease again - Our most popular option. It allows you to return your current vehicle, after fulfilling your lease obligations, and drive off in a new car or truck. For many customers, this option is one of the deciding factors for leasing - no worries with trade-in values or hassles with selling a used vehicle.

2) Purchase the vehicle - Your Honda Finance Lease Agreement includes a lease end Purchase Option. This allows you the flexibility to purchase the vehicle at a price which is determined at the beginning of your lease. The dealer will collect any applicable local fees (registration, license, etc.) or taxes if you exercise this option.

3) Return the vehicle - Another option is to return your vehicle and walk away, after you fulfill your lease end obligations.

Vehicle Turn In

Approximately 120 days before your lease is scheduled to end, Honda Finance will send you a Pre-Termination Communication; a step-by-step outline of what to expect at lease end. With a Honda Finance Lease you are required to return your vehicle to your originating dealer*. Call your dealer to make an appointment prior to vehicle drop off.
When you turn in your vehicle a dealership representative or independent vehicle inspector authorized by Honda Credit will:

• Review the overall condition of the vehicle with you.
• Complete the Vehicle Condition Report with you and ask for your signature on each of these documents.
• Collect any charges due for excess wear and tear and excess kilometrage.

* If you have moved, and are now residing more than 200 kilometres from your originating dealer, you may return the vehicle to a participating Honda dealer. Be sure to contact the respective dealer for an appointment prior to vehicle return.
Vehicle Inspection

At lease end, your dealer or an independent vehicle inspection company authorized by Honda Finance will conduct an interior, exterior and mechanical inspection of your vehicle which should take about 30 minutes. The dealer or vehicle inspector will use the following steps when conducting the vehicle inspection:

STEP 1: INTERIOR, SEATS AND SOFT TRIM First, the inspector will enter the vehicle and record the kilometrage onto the Odometer Disclosure Statement and Vehicle Condition Report. Next the inspector will inspect the following items to identify any condition which is unacceptable: • Front and rear seat upholstery • Door and side panel trim and upholstery • Instrument panel controls and trim console (if applicable) • Headliner Carpet Package tray (if applicable) • Missing parts	STEP 2: OPERATIONAL FEATURES The inspector will start the vehicle and check all operational features, including: • Engine • Transmission • Brakes • Steering • Air Conditioning • Windows, locks and seats • Sound system Instrumentation • Odometer • Headlamps • Windshield wipers • Cruise control • Cellular telephone
STEP 3: UNDER THE HOOD The inspector will check for any: • Unibody or frame damage, including ripples or tears in the metal, or improper repair of the unibody or frame structure • Improper body repair techniques such as paint overspray • Modifications made to the powertrain assembly • Missing components	STEP 4: UP FRONT The inspector will examine the condition and alignment of the following: • Bumper and grille • Plastic lenses, headlamps, and surrounding trim Windshield • Hood condition and alignment of hood to front fenders
STEP 5: PASSENGER SIDE The inspector will examine the following: • Exterior body panels and paint condition • Door and quarter window glass and seals • Rubber door seals • Body panel and door alignment (open and shut all doors) • Outside mirrors • Roof paint finish, vinyl roof, or convertible top • Bodyside moldings and wheelhousing trim • Wheels and tires • Truck bed top rail	STEP 6: AT THE REAR The inspector will examine the following: • Bumper and surrounding trim • Plastic lenses, tail lamps, and trim • Rear window glass • Inside trunk; including truck liner, spare tire and jack • Trunk lid, liftgate, or tailgate condition and alignment • Truck bed
STEP 7: DRIVER SIDE The inspector will examine the following: • Exterior body panels and paint condition • Door and quarter window glass and seals • Rubber door seals • Body panel and door alignment (open and shut all doors) • Outside mirrors • Roof paint finish, vinyl roof, or convertible top • Bodyside moldings and wheelhousing trim • Wheels and tires • Truck bed top rail

Lease A Vehicle - Wear & Tear

As your Honda Finance Lease Agreement states, Honda Finance expects vehicles to be returned in good condition allowing for normal wear and tear. Your lease agreement includes information regarding vehicle wear and tear, which relates to your financial and legal responsibilities at lease end. One of our goals at Honda Finance is to make the lease end process simple and easy for you. Included in the Pre-Termination Communication is a Wear and Tear Template to assist you with identifying excess wear and tear. We have also prepared detailed wear and tear definitions, and a few examples to help determine if your Honda Finance Lease vehicle contains any excess wear and tear. We encourage you to have any damage to your vehicle repaired prior to lease end to help you avoid any excess wear and tear charges.

NORMAL WEAR & TEAR

Indications of everyday use are expected and will not result in any additional charges. Under normal driving conditions, and with routine preventative maintenance, you will most likely not be assessed any excess wear and tear charges.
Proper preventative maintenance includes:

• Oil changes and filters*
• Inspections of belts and hoses*
• Tire rotations*
• Regular checks of tire pressure
• Wash and wax your vehicle regularly to protect its paint and finish

*(Perform scheduled maintenance as indicated in your Owner's Manual)

EXCESS WEAR & TEAR

Excess wear and tear is the result of damage to a vehicle that does not fall within Honda Finance guidelines.
You are also responsible for replacing any items that have been lost or damaged. Such items include outside mirrors, wheel covers, and antennas. Many items that are considered excess may be covered by your insurance policy. For example, if your vehicle is in an accident, or if your windshield is cracked, you may want to file an insurance claim. If the damage is covered under your insurance policy, your expenses may be covered in full or limited to your deductible.
If excess wear and tear has been identified at the end of your lease, or if the kilometrage on your vehicle exceeds the kilometrage allowed in your lease, you will be responsible for paying the assessed charges. These charges will be collected at vehicle turn-in, and can be deducted from your security deposit. Any charges over and above your security deposit amount will be your responsibility. Of course, if there are no additional charges, your full security deposit will be refunded to you.
Wearcare

Sherwood Honda offers WearCare to protect against the unexpected.

With WearCare, you can help ensure that the unexpected doesn't put a dent in your wallet. Under normal driving conditions, and with routine preventative maintenance, you will most likely not incur excess wear and tear charges. But what about the extra vehicle bumps and bruises beyond normal wear and tear? Honda Finance now offers WearCare to protect against the unexpected. Honda Finance optional WearCare program can save you up to $3,500 in excess wear and tear charges. These charges, subject to exclusions, could result from:

• Damaged Windshields
• Parking lot dents
• Minor scratches
• Burn holes
• Carpet stains
• Stone chips
• Tire wear

Or any other damage that exceeds Honda Finance standards for normal wear and tear and is not covered by your insurance company.

See your sales consultant for additional information about the WearCare Program.