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Honda’s captive finance company will direct lease customers back to #honda and Acura dealers for vehicle return
July 8, 2021 — TORRANCE, CA.
American #honda Finance Corporation (AHFC) announced it will direct customers to return all leased vehicles to authorized #honda and Acura dealers only in accordance with their lease agreement. The measure comes as global parts supply issues and congestion at various ports have led to new vehicle inventory challenges for #auto dealers and increased consumer demand for pre-owned vehicles.
AHFC will notify lease customers nearing their end of term that, in accordance with the terms of the AHFC lease agreement, lease customers can purchase their leased vehicle but are otherwise required to return or trade-in the vehicle to a #honda or Acura dealer only.
“In this unusual market environment, our goal is to make sure our dealers have access to quality pre-owned #honda and Acura vehicles to satisfy the needs of new and returning customers. Customers continue to have the option to purchase their leased vehicle as indicated on their lease agreement,” said #petarvucurevic, vice president of AHFC.
Honda is the latest automaker to enact such a policy. The policy will be reassessed at the end of the calendar year.