My lease will be up early next year, and I've tossed around the idea of keeping the car. I always thought I would turn it in, but I like the idea that....

1. I've taken care of the car like the obsessed nut I am (regular clay, wax, etc.)
2. It's only going to have 25,XXX miles or so when my lease is up (lease allowed 36,000)
3. It has been and I know it will continue to be trouble-free.
4. It's a great daily driver!

I plan on ordering a 911 next year, and I think the TSX would be a terrific commuter while the P-car does weekend and just-for-fun drives. It seems kind of foolish to shop around for another car when I know my TSX has been loved and babied since I got it.

I'll have to dig out the lease paperwork to see what Acura will want for the car when the lease is up, but I can't imagine I could find another car for a similar price that I would like more. Anyone else purchase their car at the end of a lease??

 

I don't know much about this, but maybe if u try to buy it before the lease is up it would be to your advantage. lower interest rates?

 

I've never leased a car but in general if you've taken much-better-than-average care of the car it is going to be worth it to pay the residual and keep or sell the car (otherwise the residual would have been lower and they'd charge you more for the lease).

 

If you like it, why not trade it in and buy a brand new one? You'll get better than average value with the low mileage and if you're ordering a Porsche, you're obviously not hurting too much for money. You should easily be able to get the lease buy-out value on the trade-in and not owe anything on the car. Plus, this way you'll get all the bonuses of the new 2006 model.

Just another idea to mull around.

 

Not a bad idea, I just don't see the point of trading in my like new '04 for a new TSX. Not really sure what I would be gaining other than sat radio, different wheels, some minor trim changes, and a higher payment. If they were to make some major engine changes for 2007, I would certainly consider buying another one, though!

The Porsche is a lifelong dream, and my TSX just seems like a great daily driver to have beside it in the garage. I need to dig out my paperwork and see what the residual is, but it's my understanding that ending the lease early will just cost me a bunch of fees. Might as well wait until the lease period is over.

 

If the buyout is less than the estimated value of the car used, keep it. You could always flip it and be ahead.

 

FWIW...

I had a 2-year lease on a '99 Mercedes C230. At the end of the lease, the car was worth $4K LESS than the residual value and the bank wouldn't deal (I was willing to split the difference), so I gave the car back even though I *LOVED* that car. I still regret it to this day. If you really like your car I wouldn't be concerned with whether it was a good deal or not, I would just do it.

 

The great thing about a lease is you have several options at the end. American Honda allows up to $1500 in 'wear and tear' damage and the lease turn in process is painless (No disposition fees, etc)

Options:

1. Simply turn the car back in to Acura. IMO this is the best choice only if the car does not hold its value

2. Return the car and buy a new Acura. The lease acts as a trade in and you to tap into the equity for your new car payment.

3. Lease extension (3, 6, 12 months, etc) This is a good option if you need more time to make a decision. Basically, your monthly payment is the same and then extend your mileage allowance accordingly.

4. Purchase the car. Again, Honda makes this easy, all the info needed is on AMerican Honda Finaces Website

5. Best Option - Do #3 or #4 and then sell the car yourself. Extended the lease is simple and can give you the extra time needed to sel lthe car.

 

Thanks for the advice and resources. I've got some thinking to do.

 

I am in the same situation. When I leased the car, my intentions were that it would simply supply my needs for the time, but now that I have been with the car for 3 years, I can't let it go. Everything with the car is just right. Comfort, luxury, reliability, styling, and performance.
I will buy the car at lease end, no matter how much money I will lose. I think of it this way, my buyout is 15K. Where am I going to find a like new TSX, only 30,000 miles, with Hondata, Injen, Rotora, Blue LEDs, etc.... for again 15K.
I'm keeping this TSX. If the dealer wants it back it is going to have to pry the keys from my cold dead hands.

 

Its so damn refreshing to see this much love for the TSX. I usually baby mine; keep it in the back of the driveway, wash and wax often, only drive her 3 days a week, etc. Even thought about trading her in for an Evo (never driven anything but FWD) Good luck with your decision and for making me take a second look at my TSX.

 

From a strictly business standpoint, you should purchase (finance) the car at the end of the lease and sell it private party if the declared residual value is less than book value, since there is some equity and a few bucks to be made there. The residual value is, of course, what you will be paying for the vehicle at lease end should you decide to buy it. If the car held it value very well and you kept good care of it, it's possible you could purchase your car for LESS than trade in value, which is a very good deal. You could get some cheap financing, keep the car for another 6 months or so, and sell it for a tidy profit.

If the car's book value is work significantly less than the residual value, give the car back of course. (thats why gap insurance exists.)

 

Well, I think everyone is starting to talk about something else now,

I am a 100% yes that i am coming, and is there anything you guys would like me to bring ??? also what time will you guys think it will end???

ADD ME TO THE LIST !!!



Ron8818
Ron HSIU
Anyone wanna PM Me and ill give you #'s or what...

 

^^^ wrong thread??

 

What if you want to buy out the car but dont have all 15,16k upfront. Will American Honda work with you to finace the balance?

I am planning to buy mine out but hell no I dont have 16k in my wallet.

 

Buy it! On the other handtrade it in..with that kind of miles you will make money. I did that with my S2K and came out 4k on top. Honda/Acura with low miles are always worth more than the residual.

 

They got my 06 EX Accord 6 speed valued at 16,xxx at 3year/36k residual.