Wondering if anyone on here dealt with this in the past
I have a '10 6mt tech with approximately 14k on the odo,

The current buyout is approximately $23,900, and i want to put a feeler ad on Autotrader to get rid of this for $26,500 or best offer

I read that Acura does not allow a third party buyout of the lease, meaning that only a dealer or myself can legally purchase the car

My question is can a dealer (not just a franchised Acura dealer) facilitate the paperwork between the buyer and myself, and act as the middle man for the deal? Specifically i want to have the Jeep dealer that i might be buying my Overland from to do this, as part of the deal.

I dont want to go to an Acura franchised dealer since, well, they could very well stab me from behind and sell the prospective buyer a "new" CPO TSX


Either way, looking for anybody with experiences

 

Yes, this happens all the time. A rival dealer will take your car as a trade in, (as long as the trade in value is worth more than the buy out price), pay off that loan/lease and roll the difference into the new deal as a down payment.

 

Yea but thats essentially trading in your leased car, which i know can be done. However i dont want to get completely over the trade in price, so i want to sell it private party, get a few grand out of the new buyer, and have the dealer be the middle man of the deal



OR just screw the dealer, and ill buy the car outright and sell it back to somebody, but there will be some tax ramifications that im not quite aware of.

 

you can sell your car, anytime, to anyone you want. honda has no say in that at all. i'd really love to see the paperwork you signed that says otherwise.

they might not allow "lease take-overs" but that's completely different than selling your car. big difference. lease take-over is when a third party decides to pay your payment and you want to put the car in their name. if i were Honda i'd not let that happen either.

again, you can SELL your car, anytime, to anyone that you want.

i'd just trade it in on the Jeep. easier. much easier. just have the Jeep dealer give you the money you want for it or walk.

 

Here in NY, you only pay tax on the difference in price between the car you are buying, and the price of your trade in.

If the new car is 35k, and the trade-in is 25k, you only pay tax on 10k instead of the whole 35k. Thats worth about $2150 where I live. That would mean you would have to sell the car for over 27k just to break even, or much more to turn a profit, and be worth the hastle of dealing with tire kickers. Just something to keep in mind.

 

Well not to burst your bubble you're way high on the price considering you can get a brand spankin' new '11 for $27,500. I figure the value is about the buyout of $22 or so.

 

The paperwork that says otherwise is the car's title and the lease agreement. When you lease a car, you do not own it. The lessor (in this instance usually Honda Lease Trust) owns the car and has its name on the title. You cannot sell a car you do not own. Thus, you cannot just go and sell a leased car to a third party.

 

I don't get it I guess. I don't have the title to my TSX either since I am financing it. I can sell it anytime I want. I have sold so many cars that I've financed or leased, I don't have enough fingers to count them on You simply take the money to the local branch or mail it in the the lease company. They send you a released title, and that's that. Sign it over to anyone you like.

Why would a Honda LEASE be any different from a VW lease?

Very interesting. And very glad I financed instead of leased the TSX. I must know why they (Honda Leasing) decided to restrict a consumer's right to sell the car. It's the same as financing...you just pay the interest up front. There is always a PAY OFF balance for a lease or a finance contract. Why would Honda offer a pay-off balance if you aren't allowed to pay it off????

Any idea why Honda says leasors can't be in charge of their finances like anyone else? What's in it for them?

 

you can sell it if you want, its a gray area. you can buy out/pay off at anytime and recieve your title because at that point its your car. but since technically, its not your car, you can't sell it before you do that. though i understand, you can sell it, get the money, then send the payoff money to honda and keep the difference, and then after you get the title, give it to the other people. but technically your supposed to pay it off prior to selling, not sell and then payoff with the profit

 

Then you can't really sell your financed car anytime you want can you? Try selling it before the bank releases the title. You have to pay the bank first. If you pay a lease buyout amount you're no longer leasing, as you have just bought the car. So of course you can then sell it. Whether you're leasing or financing, whoever you took the loan from has to be paid before the car goes anywhere. The OP was asking about having someone else buy out his lease - meaning someone other than the lessee pays the buyout amount to teh leasing co. and takes the car. Two totally different things. I know of no leasing company that allows that.

 

Ok, we are on the same page. I was thinking you guys were saying if you lease an Acura through Honda Finance you can never get out early, that you aren't allowed to pay it off because they don't want you to sell the car.

Sure, a finance company doesn't want the hassle of taking someone else's money because then they have to deal with DMV paperwork. I've always just taken the buyers cash, paid off the contract, and signed the title to the buyer. Or simply traded it in where the dealer becomes the buyer, I sign a power of attorney and all that crap, and they pay it off.