About Lease Assumptions
assumed by a third party, subject to the approval of
Honda Financial Services (HFS). The following are
standard to the program:
1/ Assumptions are NOT PERMITTED
within the last six months of the
2/ It is the responsibility you the
Customer to find third party to
assume their Lease contract.
3/ HFS reserves the right to decline any
request for assumption without an
explanation or obligation. It is the
responsibility of HFS to determine an
assuming customer's credit worthiness.
4/ The original customer is responsible for
all payments up until they receive written
notification from HFS that the
assumption has been completed.
5/ HFS will decline all assumption requests
that are in past due status at time of
application. The account must be up to
date to be considered.
6/ If at anytime during the assumption
process the account falls past due, the
documents will not be processed until
the account is up to date.
7/ If payment returns NSF from the
previous account holder it is the
responsibility of the new owner(assignee)
to ensure the account is current.
8/ Once the assumption has been
completed, the assignee accepts all terms
and conditions outlined on the original
lease agreement, which is legal and
9/ More than one assumption may be
completed on an account.
An assumption fee is applicable each time
an account is assumed. The fee is made
payable to Classic Honda for the amount
$799.00 + GST.