quicksilver_RENAMED

The first step is admitting you have a problem, right? I leased a 2002 TL-S a year ago. I trade cars after 3-4yrs b/c of boredom, so signed a 4yr lease.

Now I'm in love w/it , want to keep the car forever. My credit union will hook me up with a lease buyout for 5.4%. I'll be financing the car just like the lease never happened. The ultimate goal is to have the car paid off in 3yrs so when the wife gets a new car, we only have one payment.

HERE'S THE CATCH. I live in the unfair state of Illinois!

When you lease a car, you pay sales tax on the full price of the car! Now, when the title is passed to my name, I have to pay tax on the value of the car again!!!!!! (Approx $2200). Has anyone found a way around this? Feels like double taxation! I've checked with a couple banks & also the DMV, so very confident this is how it's "supposed" to work.

HELP!

ymckoon

Well, just wait for the new TL when your lease is up and then you'll have a TL you love even more.

nym31mp

ok well not judeing but u never want to get into a 4 yr lease i know its prob cheaper at the time but its too late now...many times if u are going to buy another car from a particular dealership u can bring the car back early for instance my girl friend had 6 mos left on her lease and the dealership payed the last 4 mos and she had to only pay 2 out of 6 and she leased a new car 6 mos early im sure u'll be able to do that sometime anoter dealership may get u out of the lease like 6mos to go a year or more is tough cause then ur talkin alot of money and if u wait till like 3-4 mos before ur lease is up the place may even eat those final payments ...so think u only have 2.5 yrs left on this car and it depends on how bad the place and salesmen wants to sell a car if they want ur buisness the may give u alot more...hope this helps

bozzchem

Hear Hear. You're stuck. Wait out the lease and move on to the next killer car Acura comes out with (hopefully with a better tranny)

$2200 is a lot to shell out just to break a lease. Hell, that would buy you the body kit, the rear spoiler, and some new stereo gear.

BTW, double taxation is what our state and federal governments thrive on. I'm not going to go on a political rant here but there is a third party (Libertarians) who would make that a thing of the past.

sundial2k

I have been in a similar situation before. My recommendation would be just to continue your lease, then make the decision about keeping the TL-S at the end.

I also like to change cars every 3 or 4 years as well. Even when I really liked the car I was driving at the beginning, there was always something I wanted when the lease came to an end.

About the tax?? You pay sales tax on the full price in your lease? I have never heard of that. If that is the case, I would not lease in your state.

doopstr

I think you are full of crap You know damn right well you will be sick of it in 4 years. Keep the lease and move on. I'm sure the '04 TL-S will win your heart (unless its FUGLY).

accordv6

I went through a similar situation with my 99 civic si. It was lease for three years, and when the time to turn it in came, it was in such perfect condition with low mileage that I decided to buy it out and sell it to another interested party. I went to my local Honda dealership, and for $100 they took title of the car (so I wouldn't have to pay tax on the purchase of the vehicle). It was a great deal, bought out the car for $10,500 and turned right around and sold it for $15,500, and he had to pay for the tax on the car. Not sure if that helps you out at all