Does anyone know if Acura dealers only offer the residual value if you trade at the end of the lease...or would they potentially offer something more?

I'm thinking about either buying it out for the residual or getting into another Acura lease. The pragmatist in me thinks they would only offer the stated residual value since Acura/Honda Financial no longer allows you to sell it to a third party company. They know they have you over a barrel. (You'd have to buy the car/pay taxes/retitle, then sell it.) But didn't know if different dealerships in a metro area may see it as competing for the same used car and potentially add a little extra knowing they would make more on the backend.

When I was talking to the salesguy I used before, he said they need to 'evaluate my trade'. He knows full well I leased it through Acura Financial and have a set buy out.

I'm not even looking for the equity if I sold it outright, I'd be happy with an amount that covered all/some of the sales tax. Texas screws you on a lease by making you pay the tax on the full amount of the car, not the total lease amount or monthly payment like other states. If you buy the car at the end of the lease, you have to pay sales tax on the residual amount as you are a 'different' buyer than Acura Financial.

 

I purchased my 21 TLX at the end of the lease. Your contract (line #8) will state what the value is at the end of the lease. I tried some subtle negotiation but it is what it is. I did contact Acura to see if they offered any type of financing and they answer was no. Not sure about the state tax laws in your state, but fortunately in Maryland I did not have to pay any state tax at the time of the sale as it was paid when I leased.

 

I thought that you had the option to finance through Acura if you wanted to buy the vehicle at the end of the lease. If not, do they give you any options or do you have to go get your own financing from a bank? I have never purchased a vehicle at the end of a lease, but I think we are going to be doing that in April with my wife's Subaru. Do you have any tips/suggestions on doing so? Is it a pretty straightforward process, or does the manufacturer make buying out a vehicle a real PITA?

Thanks so much!

 

When I contacted Acura Financing near the end of my lease, they referred me to the dealership. I lined up financing thru my credit union. I gave the dealership the offer from my credit union and they were able to get me a better rate. The contract process was very straight forward as there was a fee the dealership included in the sale and then a tag and title fee that the state imposes. The only glitch was the dealership just hired a new finance guy and he was not prepared for the transaction. Therefore the process took A LOT longer than anticipated. (A side note......I have an Advanced model and the 23/24 model year TLX does not offer the Advanced trim. Was hoping for the Advanced/Aspec trim like they offer with the RDX. That is why I chose to keep my 21 Advance.) Good luck with whatever you chose to do.

 

Yep, if I buy it, the residual amount is going to be the set amount in the contract. I'm totally cool with that. I didn't know if I traded it in for another Acura if there was a little wiggle room they could give as technically they are paying off the AF deal not me. But also get there is zero real incentive to do it because at the end of the day the amount is set.

I hate they changed the contract to prohibit third party buyouts.

If push comes to shove, I don't mind buying it. I love the car and wouldn't come close to finding something like it for the residual amount. My CU is fantastic. Their interest rate is always lower than any non-promotional rate (I think it's 5.49% on used cars right now and they automatically reduce you to the lowest rate they have if the fed lowers the interest rate during the contract). I was considering an RDX as they have really good deals in regard to Acura Loyalty and dealer incentives as they close out the 24s.)