Diminishing value - lease car going to be repainted
#1
Moderator
Thread Starter
Diminishing value - lease car going to be repainted
Ok guys, here is the situation.
found out my 2010 cbp tl had paint defect on over 70% of the car.
brought it into acura to have them distract manager check it out. they offer to repaint the affected areas.
since im under a lease and repaint service will show up in car fax, is it right for me to ask them to reassest the total value of the car since its going to loose value due to repaint.
i paid for a car that had no defect but infact had a defect. I plan to completely buy out the car at the end.
i know that there will be a diminishing value on the car, but i plan to buy it out at the end of my lease.
so i tell them to re-assest the total value of the car when i buy it out or do it right now? or any other advice will do.
found out my 2010 cbp tl had paint defect on over 70% of the car.
brought it into acura to have them distract manager check it out. they offer to repaint the affected areas.
since im under a lease and repaint service will show up in car fax, is it right for me to ask them to reassest the total value of the car since its going to loose value due to repaint.
i paid for a car that had no defect but infact had a defect. I plan to completely buy out the car at the end.
i know that there will be a diminishing value on the car, but i plan to buy it out at the end of my lease.
so i tell them to re-assest the total value of the car when i buy it out or do it right now? or any other advice will do.
#2
I drive a Subata.
iTrader: (1)
Why would you want to buy out the car that had a major defect?
#3
The following 2 users liked this post by AZuser:
civicdrivr (04-27-2012),
phee (04-27-2012)
#4
Your Friendly Canadian
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OP, if I were you, I'd get it out of the way now. Maybe you could get them to write a note or something to include the diminished value or something come buy-back time.
#6
Team Owner
I don't think the dealer can do anything about the value. That would need to be up to the lease holder. That would be an uphill battle for sure. Maybe you want to have that conversation with them before you have it painted?
At the very least make sure the car is going to a quality paint shop or your story will be far from over. Good luck.
What is wrong with the paint?
At the very least make sure the car is going to a quality paint shop or your story will be far from over. Good luck.
What is wrong with the paint?
Last edited by doopstr; 04-23-2012 at 08:26 PM.
#7
Moderator
Thread Starter
I don't think the dealer can do anything about the value. That would need to be up to the lease holder. That would be an uphill battle for sure. Maybe you want to have that conversation with them before you have it painted?
At the very least make sure the car is going to a quality paint shop or your story will be far from over. Good luck.
What is wrong with the paint?
At the very least make sure the car is going to a quality paint shop or your story will be far from over. Good luck.
What is wrong with the paint?
i have what people call crows feet..
if you look it up on google images you will see it..
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#8
Senior Moderator
iTrader: (2)
It's leased. I fail to see why you care? Return it when the lease is over & you have no issue. The buy out is in your contract. The payments are in your contract. At lease end you either pay the buyout or return it. You may be able to wiggle a little off from the lease company, but not likely.
#9
Three Wheelin'
Repaint will not show up on Carfax unless you were in an accident. And the dealer doesn't owe you anything as far as diminished value is concerned because you don't own the car and you're not forced to buy it at the end of the lease.
The following users liked this post:
civicdrivr (04-27-2012)
#13
אני עומד עם ישראל
Talk to whoever the lein holder may be (probably Acura). See if they are willing to work with you.
From what I've heard, HondAcura is pretty strict, but the worst they can say is no right?
From what I've heard, HondAcura is pretty strict, but the worst they can say is no right?
#14
Senior Moderator
iTrader: (5)
Tough call though since you were planning to buy it. I guess you'll need to decide if you want to buy it knowing it had a paint defect and was repainted. If that's no big deal for you, then move forward with your plan. If it is, then just turn it in at the end of the lease. But I don't think you'll have any luck getting the value of the car reduced.
When you turn it in they'll simply resell it and no one would even know the car was repainted... so they'll be able to sell it for the same price as any other comparable car...
#15
GEEZER
WOW! I have crows feet too! I never thought of going to a paint shop to fix them!
#16
#17
The sizzle in the Steak
Piss poor paint is a standard feature on all Acura vehicles.
#18
Safety Car
that along with piss poor interior quality. One reason I'm considering getting rid of my 3G TL.
OP I would just keep the car until the lease is up, and dump it back on them. Not your fault the paint quality is crap.
You don't have to worry about the repaint showing up on carfax because there wasn't an accident. The only thing you may want to consider is if the shop does a crap paint job. I had a g35 lease, that needed a quarter panel repainted due to some acid damage or something. The first shop (recommended by the dealer, mind you) that did it, did a terrible job, wavy uneven paint, and even I could see strings or strands of hair under the clear coat. I found this unacceptable, and instead of going back and forth between the shop, I just took it somewhere else to have it redone, he did a much better job, and I had no problems with the post lease inspection. I double paid for the job, but money well spent; who knows what they would have pinned on me if it I left it like it was.
As far as buying it out. I would not even consider that on a car that has been repainted. What if you do buy it, and need to sell it down the road, would you feel comfortable telling your buyer it was repainted? Would you feel comfortable lying and telling it was not repainted? Too many potential issues here to consider a buy out. Best thing imo is to walk away when your lease is up; and you won't have to worry about it any longer. If this is already bothering you now, just think how much it would bother you if you were to actually buy it.
OP I would just keep the car until the lease is up, and dump it back on them. Not your fault the paint quality is crap.
You don't have to worry about the repaint showing up on carfax because there wasn't an accident. The only thing you may want to consider is if the shop does a crap paint job. I had a g35 lease, that needed a quarter panel repainted due to some acid damage or something. The first shop (recommended by the dealer, mind you) that did it, did a terrible job, wavy uneven paint, and even I could see strings or strands of hair under the clear coat. I found this unacceptable, and instead of going back and forth between the shop, I just took it somewhere else to have it redone, he did a much better job, and I had no problems with the post lease inspection. I double paid for the job, but money well spent; who knows what they would have pinned on me if it I left it like it was.
As far as buying it out. I would not even consider that on a car that has been repainted. What if you do buy it, and need to sell it down the road, would you feel comfortable telling your buyer it was repainted? Would you feel comfortable lying and telling it was not repainted? Too many potential issues here to consider a buy out. Best thing imo is to walk away when your lease is up; and you won't have to worry about it any longer. If this is already bothering you now, just think how much it would bother you if you were to actually buy it.
Last edited by WdnUlik2no; 04-30-2012 at 02:17 PM.
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