dealer offered lease buy out
08-18-2011, 10:13 AM
#1
Advanced
Thread Starter
Join Date: Jul 2009
Location: New York
Posts: 58
Likes: 0
Received 0 Likes
on
0 Posts
dealer offered lease buy out
I have been receiving letters from my dealer in the mail regarding a lease buy and i just disregarded them. Today i received a call from the dealer and i took it a bit more seriously. I have a 2009 black/black tech tsx with a 6speed and my lease is up in june 2012. I will consider getting rid of the car if the price is right to me. I have about 7000 miles under on my 3 year 12k a year plan so the car is a gem in the dealers eyes. I know that the dealer does whats best for them no matter how they make it sound to me but does anyone have experience with this kind of thing? Is it worth looking into? Any opinions/experiences would be great.
Thanks!
Thanks!
08-19-2011, 12:07 AM
#2
In this market where Acura inventory is reduced and allocation restricted, you have a very desirable car. A 6MT with tech is very rare. (I know, I was looking for months for one.) Also, the rumor is that Acura will not make a 6MT with tech for 2012, at least in the beginning of the model year. So basically your car will no longer exist for awhile.
Since the Japan disaster, Acura has made very few manuals, instead focusing production on the ATs. So there may be a pent-up demand for a CPO manual, which yours would become, especially in your colorway.
When I turned in my 08 TSX Navi on lease, the difference between residual buyout and KBB dealer retail was more than $6.5k. The dealer has now listed it for sale as a CPO for $25k. It is in superb condition with very low miles and with several options, so the SoCal dealer was willing to give back some of the equity as a cap cost reduction on my new lease.
Acura was offering $750 loyalty cash and momentum miles (basically transferring your unused miles to your new lease), so there were some decent incentives for an early lease return.
I think it depends on what car you want to get into (another Acura?) and what the dealer will offer you. It doesn't hurt to have your car appraised by the dealer and see what you like as a replacement. You may be in for a pleasant surprise. And you can always walk away...
I ended up paying less on my 2011 TSX lease than I was paying for my 08...all due to the built-in equity of the 08 and the lease incentives.
Since the Japan disaster, Acura has made very few manuals, instead focusing production on the ATs. So there may be a pent-up demand for a CPO manual, which yours would become, especially in your colorway.
When I turned in my 08 TSX Navi on lease, the difference between residual buyout and KBB dealer retail was more than $6.5k. The dealer has now listed it for sale as a CPO for $25k. It is in superb condition with very low miles and with several options, so the SoCal dealer was willing to give back some of the equity as a cap cost reduction on my new lease.
Acura was offering $750 loyalty cash and momentum miles (basically transferring your unused miles to your new lease), so there were some decent incentives for an early lease return.
I think it depends on what car you want to get into (another Acura?) and what the dealer will offer you. It doesn't hurt to have your car appraised by the dealer and see what you like as a replacement. You may be in for a pleasant surprise. And you can always walk away...
I ended up paying less on my 2011 TSX lease than I was paying for my 08...all due to the built-in equity of the 08 and the lease incentives.
Last edited by kixo; 08-19-2011 at 12:10 AM.
08-19-2011, 02:07 PM
#3
Coming from someone that bought out their lease early, just consider your options. Everyone will say that "you have a rare car" etc. etc., but times are tough for everyone right now, and it's tough to sell a used car privately these days (especially if newer), period.
I sold my '09 6MT (non-tech) for $21.5k when I was told I could get more like $24k. As many AZiner's on here know, the car was nearly flawless. Funny thing about market value is that cars are only worth as much as someone is willing to pay for it.
That being said, if you're looking to keep your car for the long haul, then by all means do it. Otherwise, I suggest you keep your options open. If I had to do it all over again, I would've just bought the car new in '09 (not leased) and taken advantage of the 0.9% APR for 60 months.
I think it will be quite some time before I lease a car again. Namely, because I don't drive that much, and I can't recoup the ROI on the mileage allowance. In other words, it's not worth leasing for me, if I only drive up to 5,000 mi/yr.
ALSO, note that if you buy your car off the lease, CarFax will show two owners instead of one. This is something that I did not know. It's not a huge deal, but it's just "another one of those things" that could ultimately work against you when selling your car someday.
I sold my '09 6MT (non-tech) for $21.5k when I was told I could get more like $24k. As many AZiner's on here know, the car was nearly flawless. Funny thing about market value is that cars are only worth as much as someone is willing to pay for it.
That being said, if you're looking to keep your car for the long haul, then by all means do it. Otherwise, I suggest you keep your options open. If I had to do it all over again, I would've just bought the car new in '09 (not leased) and taken advantage of the 0.9% APR for 60 months.
I think it will be quite some time before I lease a car again. Namely, because I don't drive that much, and I can't recoup the ROI on the mileage allowance. In other words, it's not worth leasing for me, if I only drive up to 5,000 mi/yr.
ALSO, note that if you buy your car off the lease, CarFax will show two owners instead of one. This is something that I did not know. It's not a huge deal, but it's just "another one of those things" that could ultimately work against you when selling your car someday.
08-19-2011, 10:05 PM
#4
I actually just traded in my leased '09 for an '11, and part of the reason was that I received a very good appraisal on the '09. I ended up walking out of the dealership without having paid a dime, and I only have to make 35 out of 36 lease payments.
It doesn't hurt to get an appraisal, and like others have said, you may be pleasantly surprised. Call AHFC first to find out what your payoff amount is, then use Edmunds to see how much used cars are going for in your area, and then go to the dealership to see what price they give you.
Good luck!
It doesn't hurt to get an appraisal, and like others have said, you may be pleasantly surprised. Call AHFC first to find out what your payoff amount is, then use Edmunds to see how much used cars are going for in your area, and then go to the dealership to see what price they give you.
Good luck!
08-19-2011, 10:30 PM
#5
SeeYou2Crew #2
I actually just traded in my leased '09 for an '11, and part of the reason was that I received a very good appraisal on the '09. I ended up walking out of the dealership without having paid a dime, and I only have to make 35 out of 36 lease payments.
It doesn't hurt to get an appraisal, and like others have said, you may be pleasantly surprised. Call AHFC first to find out what your payoff amount is, then use Edmunds to see how much used cars are going for in your area, and then go to the dealership to see what price they give you.
Good luck!
It doesn't hurt to get an appraisal, and like others have said, you may be pleasantly surprised. Call AHFC first to find out what your payoff amount is, then use Edmunds to see how much used cars are going for in your area, and then go to the dealership to see what price they give you.
Good luck!
Thread
Thread Starter
Forum
Replies
Last Post
Evil Teo
3G MDX (2014-2020)
14
08-16-2020 04:29 AM
