Honda Motor Co., Ltd. has a rude surprise to the driver of the leased car. You no longer have to hand over your car to another dealer.
The automaker said Thursday that it would require drivers whose leases expire to return their cars to authorized Honda and Acura dealers and refuse to accept buyouts from unaffiliated dealers and others. Honda said the supply of cars and trucks is tight as a result of a shortage of critical parts and congestion at the port as the economy recovers.
It is not uncommon for drivers to get out of the lease via a third party. For example, another dealer of another brand may offer a new car at an affordable price and is willing to let go of the old car.
Honda isn’t the only one limiting the options for drivers of leased vehicles that are considering selling to the highest bidders. General Motors’ financial sector introduced a similar policy earlier this month, and Toyota is reviewing its leased vehicle policy.
Would YOU be angry about this? And would you EVER lease AGAIN from a company with so little return flexibility?
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