pilozm

My situation:
I am currently have a 3-year lease on a 2013 RDX Tech. The 3 year lease will expire in Feb 2016, so very soon. I have under 17000 miles on the vehicle, which is in very good condition, as it was parked in an indoor garage and was never in any accidents. I can buy this lease vehicle for $22,200 in Feb 2016. I will be over 20000 miles under the mileage on this lease. DON'T ASK.
I would like to purchase a 2016 RDX Advance.

Scenario 1:
I buy my lease for $22,200-ish, then try to sell it privately. I think selling this car privately may be a pain in the neck, as i don't think too many people want to pay $22000 for a used car. After I sell the car, I can go ahead and buy a 2016 RDX Advance.

Scenario 2:
Return the 2013 RDX with very low miles and try to negotiate a great price on the 2016 Advance. I am not sure that dealer will truly offer a great price, even though I am returning a very low mile vehicle. Not sure though.

What would you do?

RDX10

If you want a 2016, get a 2016, why settle for a 2013 and deal with the headache of selling it later on. I have sold 4 cars privately and I absolutely FRICKEN hate selling cars privately. People are absolute jerks and shit turds, they come and look at my 9 year old used car and scrutinize it as though it was still on the dealers lot. I take care of my cars and honestly even the 10+ year old ones looked amazing. But expect some rock chips in a city where we dump rocks for winter traction. Oh and under 10k is rather simple, the 10-20k range is where it gets dicey. Never sold anything for 20k+ so not sure if that gets easy again. On a side-note this is an Acura though and a very popular one at that, I don't think you would have issues selling at all, but I don't know.

Sorry off topic, but my point is, you may lose profit waiting to sell vs returning and getting a 2016. But in all honesty, I don't know what a used 2013 rdx with your mileage goes for in your area, you have to look at comparables for that.

CrimsonElan

Try Beepi https://www.beepi.com/beepiprime, if you live in a city with their service, they can sell used car for a very good price for you.

Acuramon

I paid $19,500 for my 2010 with 51k miles a few weeks ago. I think you could get a little over $22k for a 2013 with 17k miles on it but it might take a while. You probably won't get much more than $22k (I'm thinking $23.5 to $24k but I could be wrong) so it's up to you if you think the small profit is worth the headache of having to sell on your own.

I too have sold quite a few cars on my own and hate the experience each time.

Kaputnik

There are lots of off-lease 2013s out there for sale at dealers, including Acura Certified units. I also suspect you could get maybe $23-24k. Is it worth the hassle to sell it on your own? I'd at least try to negotiate with the dealer first.

Bamagirl77

I too had the same scenario. I had a 2013 Honda Accord V6 Touring with 15,600 miles. I was 2 years 7 months into my lease. I had been talking to my Acura dealer since May on leasing a 2016 RDX Advanced AWD. The sales manager told me how much they wanted my car and gave me a great price. I had some equity in which he discounted the RDX to get my payment right where I needed them. My payment only increased $18 a month and I went from an Accord to a top of the line RDX. I must say I test drove a 2014 RDX and I can honestly tell you I am very pleased with my 2016. I took delivery Halloween and have 450 miles on it. It rides amazing. It is super quiet and full of technology. Being a single female, I knew I didn't want to sell my car. Too many weirdos out there. Plus, I would have asked $23,00 or $24,000 based on KBB which I figured people wouldn't want to do. Best of luck with your decision!

carbonTSEX

I would say before your lease is up, at least go talk to the dealer and see what they are willing to offer you as a deal on the 2016 RDX. If the numbers aren't right, buy it out and sell it. I have never leased and only bought new from the dealer but do they negotiate on the value of your vehicle when returning it? Can you get a lower price and then go around and flip it privately? Any many saved would be useful for your new RDX.

BC01191980

If you are leading the car you are paying for the mileage each month. Did you do 10,000 miles per year? I would take some long road trips ro make up your mileage. I am already over my mileage on my tlx so u will either turn it in early or sell it in 2 years. I am thinking of getting rdx in late 2017/early 2018.

pilozm

Thanks everyone for your suggestions. I will go into the dealer and see how much they value my current lease vehicle, being that it has so few miles. I should not expect any miracles from this dealer. This would be my 3rd vehicle from them.
I really want to get away from leasing and back to purchasing. although not necessary, it would be nice to get all the newest bells and whistles of a 2016.

pilozm

I have under 17000 miles now.
Lease gives me 36000 miles, so I will be way under.

ceb

You might want to take your car to CARMAX and see what they offer.

andysinnh

I had a similar situation moving from my '13 MDX to the '15 RDX. I had just started my 3rd year of the MDX lease (10 months left) but wanted an RDX to downsize and get something with Tech. Turns out that even at that point I had equity in my lease (slightly below mileage rate), so was able to swap vehicles and get some trade-in value to help with the new lease. Worth a try for sure.

andy

weather

I agree with others....if you want to get the 2016, don't even bother trying to buy and then sell your 2013 RDX. Shit, I'd sell my own body before selling my own cars! (lol)

Comfy

Ha ha ha... Nice to see you back here weather. how's your IS holding up?

weather

^^ Thanks for the kind words. It is nice to be appreciated in this forum I still come daily but don't seem to post as much, it seems that things are somewhat stale and less things for me to write about. We still have our ILX (g/f) and the IS is amazing!

I would still like to come back to Acura when my IS is up (lease) but the more I drive teh Lexus, the harder it will be for me to come back. Acura knows what it has to do...build a car for enthusiast, otherwise, I'll stay with companies that still car about passion

Hope all is well with you too

ThermonMermon

you're actually in a pretty good spot.

take it to different Acura/Honda dealers, and get the highest quote on your car. Dont tell them your payoff, but explain the situation. Do your homework - figure out the kelly blue book, deduct their cost to "CPO" it, and then factor in their profit. You will likely get to a number a few thousand higher than your buyout of 22.5k.

Once you settle on a price, they will manage all of your paperwork, payoff the financial services arm, and then write you a check for the difference. This is not only the path of least resistance, but it could also bear you the most cash.

I did this in a previous life with a Lexus IS. I was under mileage, and needed to dump the car mid-lease. Buyout was about $26k, and I had dealer quotes between $24-$27.5k. Ultimately left with a check for close to $2k, which equated to like 5 months of lease payments. (There was no trade-in involved; simply left the car at the dealer).

Take-away - lease reliable cars with good residuals...it will usually leave you in a pretty good buy-out situation as long as you stay at or below the mileage cap.

P.S. Unless you are having difficulty getting to the spot where you need to be, then I wouldnt even mention that you are looking for a 2016 replacement. Just walk away with the cash, then shop fresh for a 2016. Otherwise you get the "trade-in affect", i.e. the house wins.

ThermonMermon

100 miles of NYC, autotrader is showing CPOs at like $28k-$31k for a 15k-20k mile 2013 AWD Tech.

If you shop around dealers, I would start the bidding at $27k; probably will end up at $25k.

05TSXSilver

Interested in buying this out. I pm'd you.

NBP04TL4ME

Pilozm -

Just curious - what did you wind up doing or how did you make out??

pilozm

I ended up buying my leased '13 RDX.
Just had so few miles on it and now no monthly car payments. I also bought the extended warranty, so i will keep it for a couple of years.

Comfy

As some wise man said in the past...."there is no better used car than your own car".
Good job pilozm....Congratulations on your "new" car .

Nexx

they let you buy your RDX from Acura Financial even though there is a stop sale on them? interesting.

swannyva

Just saw this thread, and thought I'd add my experience in case it can help the next seller. My 2013 RDX Tech came off lease in January, and as usual, I went to the dealer to negotiate on a 2016. The 2013 had 16,000 miles out of a 30,000 3yr lease, and the dealer was only willing to give me the residual. So, not only did I get 2,000+ more from Carmax, but Acura lost my business because there was no reason to not look closely at the competition. Note that this was the first of 6 leases that I was unable to get most of my equity (I never use the miles, and lease 2 vehicles at a time) at the bargaining table. I have a 13 TL coming up in May, so I'll have to ride that bull again!


Of course, when you've paid for more miles than you used, it's never a bad idea to by the car for the residual, whether you drive it or sell it! Keep enjoying your RDX until you feel like moving on.

NBP04TL4ME

Congrats! That's likely what I would have done. In fact I did that with my 94 Accord. Way under miles and I even bought the lease out early.

Couple of questions for you as its been 20+ years since I have leased a vehicle.

Do you think you haven't been able to get your equity out of your leases because the dealers can buy the lease turn ins at their residual values? Have you tried multiple dealers?
You said you got more $$ from Carmax - Did you have to buy the RDX from AHFC, pay sales tax, title and registration fees to have the RDX in your name in order to be able to sell it to Carmax? Or is there some way for you to be able to have Carmax purchase directly from AHFC? I wouldn't think the lease terms would allow that but again, haven't leased in a long time.

TIA

pilozm

I think the dealer simply treated this as a regular used car sale, even though i was buying the car I was already leasing. We went through the normal sale process, including some DMV paperwork and sitting with the financial guy.

Comfy

RDX has a stop sale? Air bags....? So are they not selling any new RDXs???

ceb

Stop sale on the cars that have an open recall. Late 16's should be OK.