Acura Loyalty Advantage

Acura Financial Services - Acura Loyalty Advantage Benefits

Acura Financial Services® (AFS) announces new features added to the Acura Luxury Lease TM. The new Acura Loyalty Advantage (ALA) features reward your qualified, existing clients when they return to your dealership and sign a new Acura Luxury Lease or Acura Financial Services® retail contract on an Acura vehicle.

 

With ALA, your Acura lease clients might qualify for:

 

  • Momentum MilesTM: Clients who have driven less than their contracted miles will have up to 15,000 miles rolled over to their next Acura lease (rounded up to the nearest 1,000), or

 

  • Mileage ForgivenessTM: Clients who have driven more than their contracted miles will have half of the excess miles waived, up to 7,500 miles. In addition, they will have an extra 1,000 miles added to their base mileage amounts.

 

ALA features build upon and complement the existing Acura Luxury Lease benefits such as the automatically included Guaranteed Asset Protection (GAP), no disposition fee, and a $1,500 Wear and Use Waiver.

 

 

Acura LOYALTY ADVANTAGE OVERVIEW

 

What is Acura Loyalty Advantage (ALA)?

 

ALA features are new additions to the Acura Luxury Lease. These new features reward qualifying, existing Acura clients with either a mileage rollover or mileage waiver when they sign a new Acura Luxury Lease or AFS finance contract. AFS is alerting each qualifying client by mailing a letter with an ALA Certificate printed on the back and instructions for the client to take the letter to his or her originating dealership.

 

ALA was originally launched as a pilot program to Acura dealers in select states in 2008 under the name Loyalty Advantage Program (LAP). Due to the success of the pilot program based on client satisfaction surveys, dealer testimonials, and lease loyalty performance, AFS is now launching ALA nationwide.

 

AFS launched ALA in two phases. The first phase was launched in February 2010. You are part of the second phase, which launches on April 23, 2010.

 

What are the ALA features?

 

Qualifying, existing AFS lease clients can receive either Momentum Miles or Mileage Forgiveness benefits when they sign new Acura Luxury Lease or AFS finance contracts.

 

Here is how it works:

 

  • Momentum Miles: Clients who have driven less than their contracted miles will have up to 15,000 miles rolled over to their next Acura Luxury Lease (rounded up to the nearest 1,000). 

 

Here are two examples:

 

>        If a client drove 42,700 miles with a contractual mileage allowance of 45,000 miles, 3,000 miles are eligible to be rolled over to the new Acura Luxury Lease.

>        If a client drove 26,000 miles with a contractual mileage allowance of 45,000 miles, 15,000 miles are eligible to be rolled over to the new Acura Luxury Lease.

·         Mileage Forgiveness: Clients who have driven more than their contracted miles will have half of the excess miles waived, up to 7,500 miles if they finance or lease another Acura through AFS. In addition, lease clients will receive an extra 1,000 miles added to their baseline mileage amounts.

Here are two examples:

>       Lease. Let's say a client had driven 16,200 miles over his contractual mileage. When he returns his Acura, he decides to lease another Acura through AFS. Through ALA, he would get 7,500 miles waived and would only have to pay for 8,700 miles at the standard overmileage rate. This client would also receive an extra 1,000 miles added to his base mileage lease amount. So if he contracted a new Acura Luxury Lease for 30,000 miles, he would get 31,000 miles instead.

>        Finance. Let's say another client had driven 10,000 miles over her contractual mileage. When she returns her Acura to your dealership, she decides to return the leased vehicle and finance a new Acura. She will get 5,000 miles waived and will only be responsible for 5,000 miles at the standard overmileage rate.

 

Can a client who decides to purchase his or her leased Acura receive ALA benefits?

 

A client who decides to purchase his or her leased Acura is only eligible for ALA benefits if they subsequently lease or finance a new Acura vehicle through AFS.

 

Are there waiver or rollover mile limits?

 

Yes, the waiver miles are capped at 7,500 miles and the rollover miles are capped at 15,000 miles. Standard overmileage rates will apply for all miles not waived.

 

Which clients are eligible for ALA benefits?

 

Eligible clients have:

 

·         Signed an Acura Luxury Lease contract.

·         Received approval following standard AFS credit approval policies.

·         Returned the leased Acura to an Acura dealership starting April 23.

·         Signed a new Acura Luxury Lease or AFS finance contract within 180 days from the vehicles' lease maturity dates.

 

Important note: The ALA benefit offer will begin 180 days prior to and expire 180 days after a client's lease maturity date. There will be no exceptions.

 

What are some ALA restrictions?

 

ALA benefits may not be:

 

·         Used by anybody other than a signer on the lease contract.

·         Transferred to somebody that has not signed the lease contract. (For example, a husband cannot transfer his ALA benefits to his wife if she is not a signer on the contract.)

·         Used for more than one lease or finance contract.

·         Split and applied toward two vehicles.

 

What if there are two signers (such as a married couple) on one lease contract? Can they both take advantage of ALA?

 

No. Even though they are both signers, only one of them can take advantage of ALA, not both. (The rule is this: One ALA offer per contract.) Benefits also cannot be split between people.

 

Do clients need to return to their originating Acura dealer to take advantage of ALA?

No. Starting April 23, clients can return to any Acura dealership anywhere in the country and receive ALA benefits.

What if a client returns a leased Acura with unused miles and purchases a new Acura? Can he or she get a credit for unused miles?

 

No. Clients who purchase a new Acura through AFS will be able to have overmileage waived. However, they will not receive credit for the additional 1,000 miles or benefit from any unused miles.

 

What if my client just recently extended his or her Acura lease? Can he or she still receive ALA benefits?

Yes. Your client remains eligible to receive ALA benefits. AFS will send an end-of-term (EOT) offer letter 90 days prior to the vehicle's new maturity date with information about which ALA benefits he or she qualifies for.

Have Questions? Let Us Know!