iStealth

I'm new to this forum. Anybody ever been let out of a lease early without penalty if going to purchase a new vehicle from same Car maker. I have a 03 TL-S that comes off lease Mar 06, but I am itching for a new TL. Part of me wants to wait to see what Acura is going to do with the TL line for 06, but the other part of me wants to get a 6MT which was not available when I last shopped, which is part of the reason I leased versus buying at the time.

Appreciate some feedback.

california-usa

I tried getting out of my 01 Accord V6 lease to go into a 04 Accord V6 purchase and all the dealers were saying..."not a problem" we will just add all the months that you owe on your lease contract to your new loan...I was thinking...do you think im f****** stupid? Lets do the math here...$24K for the new Accord plus my lease balance back then was $11K...so I was going to end up paying $35K total. To make the long story short...my lease ends this month and all I have to pay is $250.00 for not buying the car...then its TL time. My advice is to just let your lease contract end...then buy or lease again. I dont regret leasing...the $0 down payment was very appealing to me.

crazymjb

Well, even if its not available at that moment, you can wait a month or so for a few more to roll of the line, and be on a waiting list.

MR1

Sorry but what part of the binding legal contract don't you understand? Not just you but there are lots of similar post. How to get out of it is spelled out in the documents that you signed.

It would be wise to read and understand things before you sign them. You can give the car back at any time. Problem is that they are going to want all the money that you agreed to pay. There usually is no free lunch.

iStealth

I had heard that sometimes manufacturers will run a promotional. My wife said she read that Lexus did this not too long ago. She said she thought it only applied to leases that were through Toyota financing and it also was to promote specific models.

MR1

Sorry, there are sometimes exceptions. I didn't mean to be harsh.

california-usa

Dealing with legal contracts of all sorts everyday where I work...I know for a fact that half the people dont even read through the whole thing before placing those initials/signatures. Depending on your situation and the person you talk to.... a legal contract CAN be changed despite it clearly stating it cant. A perfect example of this: My lease contract stated if I do not purchase my car at end of lease I would HAVE to pay $250.00...a few minutes ago I just got off the phone with the person who wrote my contract in Cerritos/Honda and told him since im buying a new TL if they would waive that $250.00 fee...he said if you can fax me your TL purchase contract I'll waive it since you will be purchasing a Honda product

Republican TL

I believe all the domestic makers offer earlier outs within 6 months of the lease expiration...partly due to the fact they are desperate for sales.

jkayca

QFT

I went through this a couple of years ago with my GMC Jimmy. GM had some great financing (0%) and incentives for their 03 models. Unfortunately, at the time, I still had 3 months left on my current lease. They let me out early without penalty and looked the otherway at the scratches and stuff. A lot depends on how desperate the manufacturer is.

Oswald Vater

My dealer told me that they were willing to work with customers up to 6 months prior to lease end with no penalties if they are trading model for model. In my case, I went from a 2k TL to an 04 with 3 months left. They paid off the last 3 months as part of our negotiating process. I would wait until you're a bit closer to lease end and then give it a try.

WdnUlik2no

I'd wait since you don't have that long left anyway. Dealers WILL rip you off on trade ins even if its their car. If you ABSOLUTELY MUST get out of it now, try to sell it to a private party to get completely out of your lease obligation.

1. Call up your lease company and ask them for a payoff. This is the amount you have to pay them in order to actually purchase the car from them.

2. List your car for sale for and set a fair price. Don't expect to sell it for your payoff unless you have positive equity in it.

3. When the person agrees to buy the car, you probally will both have to go to the dealership to pay the car off, the purchaser makes out his check to the dealer and you make up any difference between the sale price and pay off amount.

4. Hand the new owner your keys

5. You're free of your lease!!

6. purchase/lease a new car outright with out negative equity.

6. Enjoy your new ride!

In your case I think it would be better to wait espeically if you have negative equity. You only have 9 months left and after the lease term, you can get out of the car with no out of pocket money (providing you didn't exceed the mileage limit, essecive damage etc etc).

Who knows next March, you may even see a car you like even better!!!

WdnUlik2no

He can legally get out of his lease buy purchasing the car outright from the leasing company.

All he has to do is to find someone who would buy it from him and he makes up the difference between his sale price and payoff amount. However, it will more than likely cost him some out of pocket money, and at this point, he may be better off just riding the lease out for these last 9 months.

WdnUlik2no

Basically what you are doing here is purchasing the car from the leasing company which is the only way to get completely out of your contract with them. Oh yeah and don't forget to include sales tax in the payoff. Sales tax must also be paid when purchasing your leased vehicle.

I would not trade in a leased vehicle, while dealers would be more than happy to pay it off for you, they will just tack the negative equity on the new car so you can pay them both off. If there is a promotion, then make SURE there is no negative equity carried over.