chatapuggy1

Question for all you previous and current leasers. I transferred my 01' CL-S from a buddy of mine who could'nt afford it, it only cost me 50$ to do the paperwork and because he put 4000$ down up front, my payments are only 322$ a month, I did not get stuck with anything else just picked it up in my name. Cost me nothing but payments.

Here's the problem.....Its only been a year, lease really started in Jul 01', car has 19,000 on it. Worried so much about going over the mileage, It is now just storage in my garage, practically new. I am thinking about selling it outright to just pay off the lease and get out of it, I think 18,000$ is left.

Am I being too much of a worrier? I love this thing, but living in LA, I could easliy drive 500mi just in a weekend alone if I keep that up, I estimate I could be over the mileage by 15,000! Its a three year lease, but 36,000 is getting close, and I still have a year and a half to go. My 88' Corolla is reliable, but not as nice as the CL-S, Please shed some light on this for me, SELL IT OR KEEP IT????????The value dosent seem to be getting any better on this car, so I better decide fast.

jimcol711

you could sell it for probably about 22-23 thousand, therefore making a 5,000 dollar profit....then take that 5 grand and put it down on something better than the cl-s...or you could just pull down the panties, take your nuts out and actually drive and enjoy the CL-S.....youve got 18 months left and 16,000 miles to go, sure thats not alot of miles like you said, for your area, however, at least drive the thing, youre paying for it dude, why let it sit in a friggin garage???? start to worry about it 16 months from now when you are at 35,700 miles....for now, enjoy it.

chatapuggy1

Good advice, but I just dont wanna end up at the end getting stuck with like 5000$ extra I have to pay off after the car is gone, I have no experiences with leases, maybe this was a bad move for me. I treat this car like a historical artifact, just because I worry not only about the mileage, but of getting dents and things.
Anyway to stop the mileage per say, shut down the ECU, so it would stop reporting the mileage? Of course I would'nt expect anyone to tell me in this public fourm considering it is highly illegal, I will just keep searching the web. Say, can I trade this car in for another car anytime, if I find something I like, will the lease just be payed off and start another one, etc.!?

NSXNEXT

iTrader: (2)

Yeah wouldn't that be great.

Real world is if you wanna buy out the car prior to lease end, they determine what the fair market value would be at that time.

The fair market value today is much greater than $18K. Typically when you try to buy a car prior to lease-end, you get hit pretty bad. There is no way you're gonna make money on the deal.

My assumption is you'd probably owe ~$4K or so to buy out the lease.

Shawn S

Well, that HAS TO be the “quote of the day”.



Shawn S

gjr2001

Chata, if your that paranoid about the leasing aspect of a vehicle, why enter into another lease? Why not just buy what you can afford next time and not worry about mileage,etc...

chatapuggy1

Sounds like the plan. But I was a little weary of Acura, its been many years since the old school Acura quality, I dont think I would ever purchase another Acura, thats why I tried leasing, and I am glad I did with the big tranny issues. Even after owning a Legend and Vigor, I have grown far too acustomed to Toyota/Lexus. I am not selling out, I am just not in for racing, so engines and horsepower are not a big deal to me. Honda does make good quality products though, just not the like good old "Legend" days.

gjr2001

It's because it's assembled in Ohio which unfortunately recruits much of it's labor force from West Virginia. Damn HillJACURAs.

1998CL3.0

couldnt u just drive it until the lease is up, then buy it then, sell it?
ive never leased so im not positive but i think once your lease is up to avoid paying fees for mileage you can purchase the car at a "discount". this of course would depend on that "discounted" price and the value of the car. just my $.02!