Turn in Your Lease or Upgrade and Ride

Take advantage of exclusive offers available through Paragon's Lease Return Program.

 

 

Explore Your End of Lease Options with Paragon Honda

Ending a lease should be quick, convenient and hassle free regardless of which option you chose. Here at Paragon, deciding what to do with your leased vehicle has never been simpler. We will work with you to understand all your options and we’ll handle everything from start to finish in just one visit. 

Purchase Your Current Lease

Is your current lease too good to get rid of? Make it yours! Our finance team will start working on the best options available for you to ensure you keep your vehicle with you for the long run. 

Return Your Lease Hassle-Free

Ready for a new vehicle or not sure what is next? Our team will assist you in returning your lease to Honda with no questions asked. Schedule a lease return appointment and we will have you on your way.

Choose Your Next Honda

It’s time for a new ride! After your vehicle has been inspected, you can shop our large selection of inventory. When you lease a new ride from us, your loyalty gives you the advantage of exclusive offers you won’t find anywhere else. We will waive the disposition fee and give you two years free of oil changes and roadside assistance!

What Does a Honda Lease Buyout Actually Cost at Paragon Honda?

Your residual value is only part of the equation. When buying out your Honda lease in New York, plan for these additional costs:

  • New York State sales tax — assessed on the full purchase price of the vehicle
  • Title and registration fees — required by the New York DMV to transfer ownership into your name
  • Documentation fee — covers the processing of your purchase paperwork at the dealership
  • Loan interest — if you finance the buyout, the interest paid over your loan term adds to your total out-of-pocket cost

Paragon Honda’s finance team will walk you through a complete, itemized cost breakdown before you sign anything — no surprises at the table.

Is There Any Room to Negotiate a Honda Lease Buyout?

The residual value written into your original lease contract is fixed and cannot be changed. That said, there are still ways to work in your favor:

  • Equity opportunity — if your Honda’s current market value is higher than the residual price, you’re purchasing below what the car is actually worth
  • Financing rate — your interest rate is negotiable; Paragon Honda works with multiple lenders to find you competitive terms
  • Timing — starting the process well before your lease end date gives you options and removes pressure

The buyout price is set, but how and when you act can still have a real impact on your total cost.

Does a Honda Lease Buyout Have to Go Through Paragon Honda?

Yes. Honda Financial Services requires all lease buyouts to be completed through an authorized Honda dealership — you cannot purchase the vehicle directly through HFS on your own.

At Paragon Honda, our finance team handles everything in one visit:

  • Retrieving your official payoff quote directly from Honda Financial Services
  • Submitting your financing application and comparing lender offers on your behalf
  • Managing the New York title transfer and DMV registration paperwork

If your lease end date is approaching, don’t wait. Contact our finance team or schedule an appointment today.

Paragon Honda — Lease Buyout FAQs

What is a Honda lease buyout?
A lease buyout is when you purchase the vehicle you’ve been leasing instead of returning it at the end of your term. Your original lease agreement includes a residual value — a fixed purchase price — that gives you the right to buy the car outright. Paragon Honda’s finance team can help you determine whether buying out your lease makes financial sense based on your specific situation.
When can I buy out my Honda lease?
You can buy out your lease at the scheduled end of your term, or early before it expires. Early buyouts may involve additional fees depending on the terms of your agreement. We recommend reaching out to our team at least 60 to 90 days before your lease ends so you have time to explore all available options without feeling rushed.
How is the buyout price determined?
The buyout price is based on the residual value set in your original lease contract — the projected worth of the vehicle at lease end. This number is locked in when you sign and does not adjust with market conditions. In many cases, especially in a strong used-car market, the residual value may be lower than what your Honda is actually worth today, making a buyout a smart financial move.
Can I finance a Honda lease buyout?
Yes. The majority of customers choose to finance their lease buyout rather than paying the residual value in cash. Paragon Honda works with a network of lenders to find competitive loan terms for your situation. You can get started with our online finance application or speak with a finance specialist when you visit our Woodside dealership.
Is buying out my lease better than returning it and leasing a new Honda?
It depends on your circumstances. If you’re happy with your current vehicle, have gone over your mileage, or want to avoid the upfront costs of getting into something new, a buyout can be the more economical choice. If you’re looking for updated features or want to take advantage of current Honda lease programs, returning and re-leasing may be a better fit. Our team will walk you through both scenarios honestly so you can decide with confidence.
What happens if I’m over my mileage allowance at lease end?
If you’ve exceeded the mileage limit in your contract, you’ll typically owe a per-mile overage charge when you return the vehicle. Buying out your lease eliminates that fee, since the excess mileage is factored into the purchase rather than billed as a separate penalty. For drivers who are over their allowance, a buyout often makes strong financial sense.
What is a disposition fee, and will I have to pay it?
A disposition fee is a charge from Honda Financial Services when you return a leased vehicle without leasing or purchasing a new Honda. The fee typically amounts to a few hundred dollars. If you buy out your current lease or lease a new Honda through Paragon Honda, the disposition fee is waived automatically.
Can I trade in my leased Honda instead of buying it out?
In many cases, yes. If your vehicle’s current market value is higher than the residual price, you may have positive equity that can be applied toward a new purchase or lease. Our team can appraise your vehicle and help you determine whether a trade makes sense for your situation. You can also get an estimate using our Value My Trade tool.
Are there loyalty benefits for returning Honda lessees at Paragon Honda?
Yes. Returning Honda lessees who choose to lease their next vehicle through Paragon Honda are eligible for loyalty benefits including a waived disposition fee and complimentary oil changes and roadside assistance for two years. Availability may vary by current program period, so ask your finance specialist about all active incentives when you come in.
How do I get started with a lease buyout at Paragon Honda?
The easiest first step is to complete our online finance application or contact our finance department directly. Have your lease agreement handy so we can review your residual value and remaining term together. From there, we’ll outline your options, answer your questions, and handle everything — all in one visit to our Woodside dealership.