Im leasing my S and wanted to know if I were to sell it before the lease is up, do I have to satisfy only my payment booklet or call the bank and find out the payoff after my booklet and satisfy both? Im on some kind of "balloon" lease I was told.

Thanx alot,
Chris

 

A lease is very similar to a conventional loan in regards to an early termination. If you call the customer service number on your payment book you can get a 10 day payoff. That is what you owe on the car. The only other thing that you may have is some nominal early termination fee ($250 ish), but if your lease is with American Honda I don't think they have one. Good luck.

 

Whats a 10 day payoff? And does the payoff include both the booklet and the remainder, or just the booklet? Sorry if I sound redundant?

Chris

 

Current payoff would be more than the remainder of your payments because of your residual. You simply call for a current payoff and they will give you a number. The amount should be a little less than the remainder of your payments plus the residual quoted at the end of your lease.

 

Thanx alot fellas.

Chris