Lease concluded – A lease agreement that allows the purchaser to return the vehicle at the end of the rental period without any other financial obligation, provided that the purchaser has fulfilled all the conditions of the lease. The tenant may be liable for a right of disposition if it is part of the tenancy agreement. Additional charges may be charged under the terms of the lease for excess kilometres or excess wear. The tenant is not responsible for a difference between the residual value indicated in the lease and the actual value of the vehicle at the end of the lease. Excess mileage charges – The fee for each kilometre that exceeds the mileage limit specified in the rental agreement. The excessive mileage tax varies depending on the type of vehicle and is generally between $0.10 and $0.25 per mile. Personal Contract Hire offers agreements for individuals, so you can drive the car you want without having to own it directly. You can choose the duration of the contract that works for you – from two to five years – and give yourself a simple, flexible and economical option. For more information, check out our PCH video by clicking on the button above.
Early Termination Charge – The fees charged to a taker in the event of early termination of a lease. Penalties vary from lease to lease, and the calculation method is defined at the beginning of the lease and explained in the lease. Most leases require a first monthly payment on the delivery of the vehicle, a refundable deposit and other fees. Amortization – The amount of value the vehicle takes in value during the duration of the lease. Amortization can be calculated by subtracting the residual value of adjusted activated costs. In this method, the amortization amount also includes all amounts that have been added to the price of the vehicle by agreement in order to achieve capitalized gross costs. Disposal fee – The fee charged by the taker if the tenant does not purchase the vehicle at the end of the rental, for the costs associated with the preparation of the vehicle for the resale and sale of the vehicle. The disposition fee must be specified in the rental agreement. For customers who prefer to rent vehicles rather than own them directly, Honda Contract Hire offers customized monthly rents for simple budgeting. We would like to assure you that we are here to support you and the management of your Honda financing agreement during this totality.
We have a few options that we can provide you with, including deferral payment, and we will work with you to find a solution that is in your best interest. We`ve made sure you experience the usual wait times when you call our customer service team. Subject to meeting the terms of return of your contract Check the insurance rates for the amount of coverage required by the lessor. The lease may require higher liability limits and lower deductibles than you currently carry, and both will increase your insurance premium. If you would like to contact us for support, call 0345 128 8908 and choose COVID-19 on the menu. You can also email us email@example.com to request a reminder. Our opening hours are Monday to Friday from 9 a.m. to 5 p.m.
Option to purchase – the right of the purchaser to acquire the leased vehicle either at the end of the lease or during the term of the lease, as defined in the lease agreement. The lease may or may not include an option to purchase. Early Termination Payoff – The total amount owed by the taker if the lease is terminated prematurely before a balance for the value of the vehicle is deducted.