albert88

Traded in my 2014 Honda Accord Sport CVT w/ 26,000 miles
Owed $21,100
Dealer paid $18,500
Negative by $2,600

Leased a Base TLX V6 for $389/month (includes CA tax)

Had to put $3,000 down which covered the $2,600 loss on my trade-in and paid the misc costs of the new lease.

Opinions please.

P.S. The car is awesome.

aIRpeACE

iTrader: (2)

would be a good deal if it's for the tech

weather

It is unfortunate that you were upside down in the deal by 2600$

Depending on the interest rate but for every 1000$, your lease payment changes by about 20$ per month so had you not had the negative equity, placing that same 3000$ down could have resulted in a 60$ reduction in your monthly lease payment.

1Louder

How you did is really a function of several other factors - can't tell just by looking at the payment.

The lease requires you settle on sale price for the TLX, so that's the first data point - did they discount the car any?

Second is what residual value did they assume? What is the term? Annual mileage? Money factor?

All that should be in your paperwork. If you can provide, we can figure it out. :-)

I'm at $494 for a V6 SH-AWD Tech (that has $1500 added options too) with $3700 down, 39 months, 10K / year, plus WA sales tax (which is $45 of that payment). I probably over-paid, but I don't think did too bad. If I grinded a bit harder I could have probably reached $475-480 or so.

mani

Dude, your happy ? That's what matters most. People will mostly give u negative opinions cause of the negative on ur ex car.... what matters most is you pulled the trigger for what you loved.

P.S. my story is similar, 2014 Accord EXL with $2600 negative walked out with v6 tech with $4k in added accessories $0 down first month free, $524per month 39 months 12k miles

mapleloaf

This type of car is a luxury, not a need, so if you got what you wanted, and its affordable, then its a good deal!

atsx1313

so I can give my car even if I still owe money?

I did give up one of my cars that was not paid up, but it had only 7k on it so the dealer paid as well...

so that worked well for you?

1Louder

To a degree, yes, but there is a limit. Might also depend if you lease or buy.

In general, if you owe money on a lease, or if your car value is less than the loan payoff, you just have negative equity in whatever that difference is. That negative equity is added on to your next deal and can be assumed in the next loan or lease. When it becomes a problem is when the cost of the new car, plus your negative equity is higher than banks will be willing to loan/lease. It depends on a lot of factors - your credit, offers at the time, maybe state laws. In my experience, less than $3000 negative equity problems are generally solvable, higher gets more difficult.

aLittleFavour

i negotiated $375.00 for 39 month 32,500 mile lease V6 Base - Only first month due at signing.

I did not take the deal. I no longer see the value in Acura vehicles but that's just my opinion.

weather

^^ Just curious why you would have gone through the effort of dealing if you feel that way about the products? Not trying to be disrespectful, just trying to understand...

1Louder

^ Or why you'd bother posting that you don't see the value in Acura, in a forum devoted to, you know, Acruas.