Nautica91

So my lease is up in less than 2 weeks and I have an appointment at the dealership to go over the options this coming tuesday.

I'm currently 42k over in mileage which isn't a huge deal, I leased with the intent on buying ( I wont get into the reasons ) A few scratches and dings, etc.

I'm thinking with sales down and prospects not looking too good with the economy, I might be in a good position to get something new, especially if they have any leftover 08's (just not feeling the new grille)

So my question is, given the mileage (84,XXX ) Anyone think I have a chance a new TL without getting banged over the head?

ZhenyaF

iTrader: (6)

I think you will have no choice but to buy your car. With 42k miles over you will owe Acura a ton of money for the mile overage. (even at 20 cents a mile, that comes out to $8400) The dings and scratches are nothing to worry about since you have a $1500 damage waiver. What is your residual value?

GeezerB

iTrader: (1)

You are F'd if you declare your mileage. This is what I would do:
Call the lease acquisition dept. Tell them you want to turn in your car but if they make you an offer you can't refuse, you may buy it outright. DO NOT declare your miles at that time. You should be able to negotiate a price at least 1500 less than residual. I did it twice last month. Do to the economy, they may even go lower. Then buy the car, keep it or sell it. If you turn it in you will be killed on penalty miles added to the old residual. That is not a good move.

Nautica91

Residual is 18,855

Mileage overage is 43k @ .15 a mile $6450

Geezer: Lease Aquisition at AHFC? or the dealer?

GeezerB

iTrader: (1)

Stay away from the dealer. Use your phone. You may have to try a few times with different agents. If they ask for your miles just tell them around xx (whatever the allowable is less 500). PM me after the call.

Bearcat94

What's the market value on your car with 84k miles?

Elegant TYPE S

iTrader: (2)

This all also depends on your leasing bank. Geezer who was your bank that negotiated? I might be in a similar situation a few months from now and I want to buy my car as well. I'm not over the mileage but will be prolly at the time. No where like the OP though. 10k miles at most, but I really do want to buy my car, that was the intent from the begining.

stillhere153

iTrader: (1)

elegant type s... if you plan on keeping the car, do nothing, just look into getting the best rate on the other half of the car.... ie. wats left to pay

nautica... pm me if you want to hardball for real

blakura

Doesn't Acura waive mileage overage penalties if you trade in your lease (prior to the end date) for another Acura?

Elegant TYPE S

iTrader: (2)

Yup.. I've seen that ad... and Its basically bullshit. Its called rolling your negative equity into your next car.

Skrewologist

i'll be done paying my lease off this year but my maturity date isnt till may 2011. i have until then to pay the car off. im not gonna finance the rest

dannyboy10

Skrewologist,

Make your you get a partial refund for the interest portion of your lease payments.

Skrewologist

thanks i'll look into that
this my first lease so the terms a bit new to me

ac08odl

you really get a 1500 dollar waiver?

Elegant TYPE S

iTrader: (2)

Depends on who you lease from. HONDA financial yes.. HAHN no.

ZhenyaF

iTrader: (6)

Exactly.

My TSX lease is almost up and after 35 months of being in NYC the car looks like shit. Scratches on the bumpers, dings on quarter panel and door. According to the lease appraisal - damage equals to $700, and I don't have to pay a penny. Gotta love American Honda Financial