BillTL1

Just a question for anyone who has bought their TL after their lease has expired; currently on an extended lease which can be ended at any time. I have an NBP '05 AT TL with 17,600 miles, brand new tires, and stock wheels which do have some curb rash, the interior is perfect; I have the Acura rubber mats and the regular ones which have never been used. Since I don't drive the car that much, I'm thinking I could keep this car for a long time; rather than getting into a new lease and new car and again strapping myself with payments. First, would the good condition of my car actually hurt me in negotiating a purchase price with the dealership and second, should I start the negotiating from the buyout that is on my lease contract or from another point, perhaps Kelley Blue Book, etc. ?

RonJonTL757

17,600 damn that some low mileage.

I would keep it, but only if your happy with it. Also check what its worth now cuz the value of these cars a dropping like crazy.

My lease is up this June and Im coming realize that I will owe more than the car is worth but another thing is that im already above my mileage so that is a big factor for me.

Whatever you do try and stay ACURA

Elegant TYPE S

iTrader: (2)

With that low miles on the car man.. I would check out what Edmunds TMV price is for your car with those miles and then find out what your buy back was determined to be when you signed the lease. You most likely can profit from this situation a couple of grand by buying it and selling it on the private market.

For example at the begining of your lease they might have might have predetermined your buyback to be 18k with 36k miles on it. However they don't know you ony have 17k miles on it DO NOT TELL THEM THAT. But your vehicle might be work more than 18k on the private market. Plus the bank wans you to buy the car, so let the contact you and they might knock it down another 2 grand.

Just dont tell them or a dealer about your low miles, deal with the bank directly and not not through a dealer, they will try to skim money through the middle and do not contact the bank first, let the contact you. That's pretty much it.

Elegant TYPE S

iTrader: (2)

I was looking into this stuff just last night.. so I had some links saved that I thought were useful..here they are:

http://www.edmunds.com/advice/strate...4/article.html

http://www.bankrate.com/brm/news/auto/20040301a2.asp

http://www.ehow.com/how_2238475_nego...se-buyout.html

Audioholics

Honda Finance doesn't work deals. When my lease was up on my 05 TL , they wanted $18.5k on the buyout and I had nearly 50k miles on it. I offered them $14k and they wouldnt budge. So I went and bought an 07 TL Type S with 10k miles for $26.5k

ggesq

iTrader: (1)

^^ That's what I was thinking. You signed a contract. You can't negotiate the price after the fact.

MR1

This is a new day regarding car sales, everyones business is way down as are values. If the residual purchase price is higher than comparable market value, give it back.

I just suspect that they really don't want an additional car on their books if it can be avoided. In other words they might be open to accepting a lower offer. Never hurts to ask in my opinion. You are completing your contract by making all of the payments.

That residual price is a projected number based on assumptions about how the market might be at the end of your lease. It represents the maximum price that you would have to pay if you chose to accept it. If the car is worth more, you benefit, if less then the lessor eats it. That said, it is the opening offer for a new contract. Let us know how it works out.

BillTL1

Yes, I do like the car and would like to keep it; it is in excellent condition. Thanks for all the responses. I have the best banking relationship with American Honda Finance and have leased Acura cars through them for the past 14 years; I will probably go through them for the purchase. An interesting point that was brought up and makes sense is that of mileage. I guess I shouldn't disclose this before we arrive at a price because I am
purchasing rather than buying the vehicle so it shouldn't matter. I only put on a few thousand miles per year and conceivably could keep the car for another 5 or 6 years.

BillTL1

Sorry, meant to say purchasing rather than selling the vehicle.