2019 Aspec wonky purchase method to save a buck (buy out a lease)
 

So I am not new to car buying, but I've never gotten a lease and bought it out, which is what my sales guy is suggesting and I wanted to throw this out there for opinions. I am looking at a 2019 Aspec and the sales guy told me that there is $3k in price reduction for leases at the moment and if I go ahead and get a barebones lease, make 4 payments, then I can just buy it out. Keep in mind I haven't started pounding him on the price yet so this is not the settled figures..just the initial numbers on how it would work. Has anyone done this? Anything to watch out for?

2019 Aspec MSRP $44,595 + Heated steering wheel at $656 and of course the stupid propak at $495. = Total MSRP of $45746

$42953 Cap Cost
-$2759.48 (1st 4 payments)
$595 Acquisition Fee
$2039.43 (5% sales tax due at payoff)
---------------------

Buyout at 4 months $42827.95

Add back in the initial payments and total vehicle cost $45287.43

Approx Total Vehicle cost without TTL: $43250

Sounds like he's just trying to make more money off you.

Beware! This is a trap!

I heard same pitch from multiple dealers when buying my RDX 2019. Remember when you sign a lease contract, you have to honor it for lease term. Only way to get around is make full payments for lease term(monthly payment X lease term)+ residue, which would be way higher than financing the car straight away when though there is less discount when financing.

They give discount for lease because they know they can make more money down the line.

You should be able to do better than that price. Dont do the lease buyout deal either.

This thread is actually perfect because this was something I was also thinking of and would like some advice from people who have done leasing before. Ive heard that if you are thinking of paying in cash, since the lease incentives are better (im seeing around 2-3k less of buying price) would it be better to just do the one time payment of the depreciation + interest, do the 3 years without a monthly payment, then buy out the vehicle at the end? Im not sure how the taxes will calculate at the beginning of the lease and also at buyout time or if there are some hidden costs that I dont know about.

I was told the same by my sales person but after further review, I was told that I would have to pay the dealer fee again. So I walked out because I didn’t feel comfortable with either the sales person or the finance manager. Called the dealer that actually had the color combo I wanted and purchased the vehicle with a price I felt was fair. No games, no BS, just a straight deal.

I would never put any money into a lease, not one penny. Sign and drive. No first payment, no taxes, no nothing. Zero.

Any funds put into a lease at signing are lost money in the event of a total loss, (fire, theft-not recovered, natural disaster, totaled in an accident, example worst case right off the dealer parking lot, etc).

I know, you have insurance. Best of luck with that. Insurance will settle with the finance company. Don't expect them to do anything for you except bill you for any applicable deductibles per the terms of your policy.

You n-e-v-e-r get any money back that you put down on a lease under any circumstances. It is lost money.


as for doing a lease because the incentives are better than if purchased. Do your homework - know and understand all costs, fees, etc. Understand how your state calculates sales tax on the lease. This can work to your advantage if the deal is right. Do negotiate the actual selling price, then calculate the lease.

Also - trade in. Get a check for the purchase of your "trade-in". Do not apply those funds to your lease "cap-cost reduction"

good luck