Stebbins33

Here's my situation:

I'm in the last few months of my lease...2003 CL-S 6 speed.

Car has been good to me but I'm one of those people that needs something new every few years. Anyhow, my lease turn-in date is August 5. And I could be getting into a new car ('02 330ci) very soon- yea yea, guilty. I don't want to be making payments for both cars at the same time if I can avoid it.

Would Acura accept the car early and waive payments? 90% chance this would be a no I assume. The last thing they want on their lot is a car they no longer sell.

If not, what do I have to go through to just sell the car outright? My guess would be a lease buyout.

If it's not difficult, then my car would be officially for sale. If's anyone's interested, let me know.

like i said...'03 6 speed. Black on black w/ factory wing. 40,000 miles. AEM CAI, 35% tint all around.

mrsteve

iTrader: (1)

With 40,000 miles aren't you beyond the allowable mileage on your lease? Usually set at 36,000 miles for a 3 year lease. Or did you get 15,000 miles a year? Either way, you're gonna be hit with some penalties unless you're buying a car from them, otherwise they have no incentive to work with you.

cltphantom

what's the buyout cost? i'm sure someone here would be willing to buy it out and throw you some cash for the honor. that way we AZ'er keep our $ from the dealer and you'll get some seed money on that 330. otherwise you turn it in and get nothing back.

Dave

Sounds like a nice car. It really becomes a numbers game - The residual plus what you still owe in lease payments versus the amount you sell the car for. I have leased about six or seven cars and I have pretty much just turned them in at the end of the lease, not any earlier.

You can negotiate to have a dealer pick up your last couple of payments if you are buying a new car though.

Oh and the American Honda lease turn in and payment waiver question? That percentage is a 100% no.

Like I said, your buy amount at the end of the lease really is a key number. By the way, that end of lease purchase amount is (in my experience) pretty much non-negotiable with American Honda.


2003 CLS Six Speed
Icebox

Chopsie

Very good points Steve and phantom.
Oh and about a car that cannot sell. I don't see that being true, at least for my area, when a CL is up for sale, it doesn't stay listed for more than 2-3 weeks, maximum.

Stebbins33

Thanks. You all confirmed what I thought from the beginning...I guess it's wishful thinking to get out of contract leases. I'm not over mileage because I got a 15,000/yr lease. Right on pace actually.

Option 2 of course is to sell the car.

If I got an offer for $18,500 I would more than likely take it because that would be the residual plus remaining payments. The end goal for me would be:

1. not have it actually cost me to sell the car (otherwise I would just wait til august and turn it in- no problems with the car, so I don't see myself getting nailed with fees)
2. get my new car when i want and avoid having 2 payments at the same time.
3. HUGE respect for this site even though I don't post much, i always read. If i could sell my car to a member rather than giving it to a dealer so they can make money...everyone wins.

mrsteve

iTrader: (1)

A 6-speed with under 50k miles usually sells pretty quickly here.