Lease Return Coverage
The LR3 coverage from Markley Honda restores your vehicle to original condition, renews the look and feel of the interior and exterior, and gets your vehicle return-ready at the end of your lease. Enjoy the benefits of your leased vehicle without the uncertainty of end lease costs. With LR3 coverage just return and walk away. No need to drive around with unsightly damage waiting for repair coverage at the end of your lease. LR3 gives you coverage from the moment you leave our Honda dealership in Fort Collins in your new leased vehicle. Renew your appearance right away!
LR3 offers two coverage levels. Ask your dealership representative which coverage is right for you.
Coverage at a Glance:
- Paintless Dent Repair
- Windshield Repair / Replacement
- Carpet / Seat Rips, Tear and Stain Repair
- Alloy Wheel Repair
- Minor Paint Damage
- Missing Parts
- Tail, Turn Signal and Brake Light Bulbs
- Lenses of Head Lamps, Running Lights and Fog Lights
- Audio Equipment
- Tire Road Hazards*
- Belts and Hoses*
- Convertible and Vinyl Tops*
- Brake Pads*
(* Platinum Coverage must be purchased for coverage)
- Repairs to a vehicle prior to turning it in at the end of the lease at the consumer’s responsibility, which could end up costing them thousands
- The LR3 package covers leased vehicles during the term of their loan so repairs can be done right away
- Customers can choose from Premium or Platinum coverage to better meet their lease protection needs
- LR3 repairs vehicles with NO deductibles
- Brings the customer back to the dealership in Fort Collins for repairs (some repairs are completed by repair network)
- Returned vehicles arrive back at our dealership in peak condition
- Terms up to 48-months
- Underwritten and administered by an “A” rated insurer; Virginia Surety, Inc.
How Does it Work?
The LR3 program is designed specifically for leased vehicles and provides repair services that facilitate the customers repair needs throughout their lease term by restoring the vehicle to acceptable lease return conditions. Consumers receive up to 13 components covered including:
- Audio Equipment
- Tire Road Hazard
- Belts and Hoses
- Brake Pads
- And More
The contract is filed as vehicle service contract and does not amend lease agreement. A repair network has been secured to repair items 1 – 5 under terms and conditions. Claims must be submitted 30-days prior to end of lease.
Q: What is covered under the LR3 program?
A: Paintless dent and ding repair, windshield repair/replacement, carpet/seats rips, tears and stain repair, alloy wheel repair, paint damage, missing parts, tail, turn and brake light bulbs, lenses of headlights, running lights and fog lights, audio equipment, tire road hazard, chrome, moldings and trim, belts and hoses, convertible and vinyl tops and brake pads. (Verify coverage details on contract)
Q: Is there a limit to the number of repairs that can be made?
A: Yes, various coverage components have aggregate limits with a total contract claim aggregate of $3,000.
Q: Where will the repair work be performed?
A: The repair work is performed at the selling dealership. This process is designed to deepen the relationship with the dealer.
Q: What is the maximum coverage term?
A: Designed to match lease terms, this programs maximum term is 48 months.
Q: Is this program cancellable?
A: Yes. Please refer to the agreement for specific cancellation instructions as well as state-specific cancellation provisions.
Q: Where can a customer view program terms and conditions prior to purchasing LR3?
A: Please refer the customer to our LR3 brochure for a summary and to the LR3 contract for full details.