rpram

Hello and interested in advice here or where to get it.
Situation:
2018 Acura Technology ASpec (Black/Black) - FWD
Original lease was 12/26/17 (so at the 6 month left mark) and 3 year 12,000 miles
Buyout is $20,000 at 12/26/20
Car is in excellent condition and has new tires. Presents as near new car.
Has 26,000 miles at June 20, 2020, and likely will have 31,000 miles at December 26, 2020
Value per KBB is $24,500 trade and $27,500 private sale as of now
Received letter from Acura at the 6 month mark this week. Offering $1,500 and of course a waiver of the disposition fee. Of course also indicating can move into a 2020 Tech Apec for $54 less per month for a new 36/12k lease.

Options:
1 - wait until December and buy the car at likely a lower than market price (Risk is my job which may not be there to get a loan in December - Big risk)
2 - Take the offer at 6 months offered by Acura (seems like I am losing the value/equity in the current vehicle)
3- Take the offer at 6 months but somehow get the equity paid in the former of lower price for the car (thus lower payment) or step up to the AWD version and try to get the value/equity
4 - wait until December and somehow buy or trade the 2018 leased Acura and get the new 2021 model Aspec then (price could be high and my job risk is still a risk)
5 - Other ideas?

Any advice?
Anyone had any luck with a buyout/trade using a leased car? How does it work? Advice on negotiating?

Thank you

benjaminh

Congrats! Seems like you are doing well with this car.

Any interest in the all-new 2021 TLX that's coming out in about 3 months?

I'm curious as to why you needed new tires so soon....?

So Acura is offering you a $1500 incentive on top of other incentives to give them this car and they'll set you up with a new TLX? Might be a good deal. Since your job is uncertain, I might go "light" on the trim level for an even lower monthly payment.

Just my 2 cents.

I'm also leasing a 2018 TLX, but mine is a Tech without the A-spec. It's currently at 28k miles and my residual is $18.5.

rpram

That 2021 TLX is interesting - as noted I could wait to the fall but that has some price risk (could be high at new introduction) and that darn job risk looms.
The tires are low profile tires and they pick up nails etc. in the side walls. I had a tire protection plan and yes they were all new but one and then on Friday that one went its incredible and the tire package is a must with the car. Also the wheels are refinished if nicked or scrapped. The package was only $20 a month and they lost money on ME.

The Acura offer appears standard mailing and does not "know" or take into account the condition or miles of this car. Hence my thinking negotiating my lease equity into the deal now. I an just looking for somebody who has done that with Acura - any experience info is appreciated.

Also, with so much less Covid driving many lessee"s will be in this equity position.

benjaminh

You can't negotiate in your equity in a leased car as far as I know. I just don't think that's possible.

What you can do with Acura is roll any "unused" miles into your new lease. So if you lease was for 36k but you only used 30, you get to add 6k for "free" to your next Acura lease.

PS If you wait until December when your current lease is up, I bet there will already be some good year end deals on the all-new 2021 TLX. Why not wait and see if you like it? Seems like it's going to be a great car in terms of looks and performance.

bmconway89511

I have a 2018 TLX A-SPEC AWD V6. But I have only managed to put 8400 miles on the car in time I have had it. Lease is up in 6 months. I am thinking I am going to buy it for a few reasons. 1) I love the car. 2) I can't find.a fiscal reason to give a car back to Acura that they will turn around and sell for 6-10K more than my residual. 3) The MF on Acura leases is horrible right now.

It is really kind of the joy of leasing that people don't see. If you lease a car and hate it, you are only in it for three years. If you love, keep it. If you are like us and really under your mileage, well, that puts you in a great position.

If the dealers really wanted the low mileage cars back they will start shaving money off the top of the new ones. But right now, so many repo's are happing that I doubt there is going to be a shortage of low mileage pre owned car.

mapleloaf

I would take door number 4 which is to wait until December. At that point you may have a better idea regarding your job situation, and you can either walk away, buy it out, or lease a new 2021 2.0.

CTNYC

If you have equity, you can sell the car to a third party dealer (Carvana/Vroom/Car Max, etc). If they're willing to pay more for the car than your current pay off, you can pocket some money and lease a new car.

The details from your post makes it sound like it's a dealer sending you the upgrade offer, and not the manufacturer. If you have equity in the current lease, no use in just turning it in - sell it for a profit and lease a new one. The "deal" the dealer is offering is likely something you can get without turning in your current lease.

spoiler900

If you love the car then buy it out, get a 5 year loan on it, make payments probably close to what your paying to lease it now, then after 5 years no more payments and you get to drive that awesome car!