Question about lease-end buyout on 3rd gen TL
09-30-2009, 11:47 PM
#1
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Question about lease-end buyout on 3rd gen TL
Hello AZ members,
I'm asking a question for my brother, who leased a 3rd gen TL and his lease through Honda Finance is due in about a month or so.
He's planning to buy the car at the end of lease because he likes the car and it has low miles (barely 30,000 miles).
However, his credit condition is not as good as how it was when he leased it.
He's wondering if Honda Finance would still offer him good interest rate if he finances through Honda although his credit is not as good as before since he had no late payment during his lease.
He didn't have any late payments or such but just higher amount of revolving credit after his school loans and credit card debt.
Can any of you share your experience or thoughts?
I want to be able to help him out and I am also curious before I tell him to ask Honda finance directly.
I probably will go to the dealership with him to help his buyout process and I figured it wouldn't hurt to go to the dealer with some knowledge.
Thank You, guys.
I'm asking a question for my brother, who leased a 3rd gen TL and his lease through Honda Finance is due in about a month or so.
He's planning to buy the car at the end of lease because he likes the car and it has low miles (barely 30,000 miles).
However, his credit condition is not as good as how it was when he leased it.
He's wondering if Honda Finance would still offer him good interest rate if he finances through Honda although his credit is not as good as before since he had no late payment during his lease.
He didn't have any late payments or such but just higher amount of revolving credit after his school loans and credit card debt.
Can any of you share your experience or thoughts?
I want to be able to help him out and I am also curious before I tell him to ask Honda finance directly.
I probably will go to the dealership with him to help his buyout process and I figured it wouldn't hurt to go to the dealer with some knowledge.
Thank You, guys.
Last edited by mctuners; 09-30-2009 at 11:50 PM.
10-01-2009, 07:33 AM
#2
call or go see the finance manager at the dealer now- before the rush is on to get it refi or end up carless-
Explain the situation, let them run a credit report and ask what can be done on adjusting/lowering the end buyout price,, and new financing
Honda likes loyal customers and usually works with you if they can
To them the option is taking back a used car and having to resell it, versus making a current customer a full owner...what do you think is easier for them??
NEVER speak to anyone but the finance MANAGER, sales staff get involved and suddenly commissions get added and you get screwed
Manager makes the deals, talks to the banks and has to approve all deals, so why go any lower on the food chain is my opinion
Also go to your bank and ask what they can do for you
They are happy to try for your business!!
Explain the situation, let them run a credit report and ask what can be done on adjusting/lowering the end buyout price,, and new financing
Honda likes loyal customers and usually works with you if they can
To them the option is taking back a used car and having to resell it, versus making a current customer a full owner...what do you think is easier for them??
NEVER speak to anyone but the finance MANAGER, sales staff get involved and suddenly commissions get added and you get screwed
Manager makes the deals, talks to the banks and has to approve all deals, so why go any lower on the food chain is my opinion
Also go to your bank and ask what they can do for you
They are happy to try for your business!!
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