sjkforever

yes indeed a big day for me tommorrow.....im going to dealer tomm for oil change and tire rotation and while im there, im planning to ask them to see if i could trade my 05TL for RL......here's my situation....currently i am under lease (15k/yr, started last june)....but the miles that i am accruing on my TL is just too much and i need to do something about it.....
so here are my options:

1) buy the car
2) trade for another one and buy/lease it

for my #1 option, i heard a lot of people talking about refinancing it......if anyone can explain in detail how i would do that, it would be greatly appreciated.....

for my #2 option (which i would prefer) if anyone has ever done this so early in their lease, and have few tips on how to minimize the losses, it would be greatly appreciated

thanx guys

chill_dog

If you REALLY want an RL...

1) Sell the TL.
2) Use the money to buy out the lease.
3) Lease/buy an RL.

Personally, I'd keep the TL and buy it later (or sell it and payoff the buyout). Also, if you're going to accrue so many miles a year, maybe leasing isn't for you.

sjkforever

well right now i am on rotation, so i have to go to different places every 5 weeks and my school's in philly....my home's in jersey so there's another killer for my mileage and once i graduate i'll be okay.....so i could still sell the TL even though it's a lease? i wonder how much $$ i would lose......can i just take it to any place to sell it? or would this be like an private sale?

toynaround

Call up your lease company and ask them what the payoff amount is. You can then determine the cost owed versus what you can expect on trade or selling it outright. Needless to say you are going to be upside down on the deal and selling it outright will net more.

chill_dog

Yes, you can sell it anywhere. Your obligation is the lease payments and the residual (if you buy it) or the fee for returning it (check your lease). To be free of it all, all you have to do is pay those. If you sell the car, you should get enough to cover the remaining lease payments and the residual/fee. If not, you'll be upside down (and have to kick in cash from your pocket). A private party sale will net you the most money; selling/trading at the dealer the least.

meathead

do the tire rotation elsewhere. it's like a 20 dollar job that acura WAY over charges for. all that "inspection" is bullshit, any jiffy lube will check out the same stuff.

jb_turner

I suspect that since you recently started your lease that the amount you have to purchase your TL for will be considerably more than what it is worth... keep us posted on what the buy out is.