Hey,

I have a 2000 TL with a year and a half to go on the lease. I want to get out of the TL and into an S2000 but I need to get out of the lease on the TL first. Any suggestions?

Thanks,
MTL

 

Call the leasing company, and find out what your buy-out will cost you. Then, you just need to pay that to the lease company, and you're done. If you get that much in trade, no big deal - pocket any extra, and have the dealer do the paperwork. If you sell it privately (around here you should get $22,000 - $27,000 depending on options and mileage), you send the lease company a check.

Rule of thumb, you need to be at least half way through the lease to avoid taking it in the a$$.

 

Get out your checkbook, especially if the lease company pumped up the residual to get the payments down, or if you have high miles.

Check your lease contract to see if there's any early payoff fee, too

I bought my way out of a 36 month '96 Maxima lease 14 months early and it cost me $1800, and I was way under on mileage. The bonus was that the rebates on the '97 Max were up to $2000 by then so the payment didn't go up all that much

 

Find out what your payoff is then tell the Honda dealer you need that amount for the trade or you cannot buy the S2000. I got my fiancee out of a Jetta lease by selling the car to a dealer. I sold it to a guy I know so it was sort of a hookup. You can jack the payoff amount up a little so when the dealer low balls you he will be closer to what you really owe. Good luck.