Leasing FAQs at Crown Acura in Greensboro

Acura Leasing FAQs

Commonly Asked Lease Questions:

Do I need to perform maintenance on a leased car?

Yes. As a part of your lease agreement, you are responsible for servicing your car in accordance with the manufacturer's minimum recommendations and as indicated by the manufacturer in connection with any recall campaign.

What are the current insurance requirements* for a leased vehicle?

You have to maintain insurance coverage for the entirety of your lease term. Make sure to read your lease agreement carefully. Minimum coverage on a leased car includes: Public liability insurance that covers up to $100,000 for bodily injuries to anyone, $300,000 for bodily injuries for any accident, and $50,000 for property damage, or has a combined single limit of $300,000 for bodily injuries and property damage for any accident; and

Physical damage insurance covering loss or damage to the car, with deductibles not exceeding $1,000 for collision and upset loss as well as $1,000 for comprehensive fire and theft loss.

Honda Lease Trust should be listed as additional insured and loss payee.

*Note: Different insurance requirements are applicable in Florida and Hawaii. Read your Lease Agreement carefully for required insurance coverage levels.


Where do I send my insurance info?

When leasing a new car or switching between insurance companies, you should have your insurance agent provide appropriate evidence of insurance to Honda Lease Trust, naming it as Loss Payee and Additional Insured. This evidence should be mailed or faxed to:

Honda Lease Trust

c/o PDP Services

P.O. Box 650201

Hunt Valley, MD 21065

I usually drive more than 15,000 miles per year. Does that mean I shouldn't lease?

Not at all. Once your lease starts, you can't adjust your mileage allowance. However, we have special lease programs that let you buy "up-front" mileage for less than you would pay at the end of the lease. Also, the cost of excess mileage is conveniently included in your monthly payment. If you don't use all the miles that you purchase, no refund is given. Ask your Acura dealer for details.

I want to buy a vehicle Service contract. Can I include the cost in my lease payment?

Yes. Your Acura dealer can give you the details. For now, be sure to check out Acura Care® Program

What happens if my car is stolen or "totaled" in an accident?

In cases like this, your lease may be terminated early. Make sure to contact Customer Service as soon as possible to notify us and discuss the next steps. But rest assured - all Acura leases include (Guaranteed Asset Protection) to protect you against unnecessary expenses.

If I lease, am I responsible for sales tax and property tax?

In some states, you'll pay sales tax that is based on your monthly payments. Other states require you to pay tax on the full value of the car. Property tax treatment varies from state to state as well. Ask your dealer for information about the tax regulations in your state.

Are leasing and balloon financing available for non-Honda vehicles?

Not through Acura Financial Services®.

More questions about leasing a new Acura?

Hours

  • Monday 9:00 AM - 8:00 PM
  • Tuesday 9:00 AM - 8:00 PM
  • Wednesday 9:00 AM - 8:00 PM
  • Thursday Closed
  • Friday 9:00 AM - 8:00 PM
  • Saturday 8:00 AM - 5:00 PM
  • Sunday 12:00 PM - 5:00 PM