Car Lease Master Thread

[~King Lake~]

I got an Odyssey EX-L, 10k, for $555, 0 down from Honda dealer directly. This includes a $2,500 credit for my current Honda trade in.

Anything else besides for 1st months payment was paid at pick up?
Sound like a very good price

[yeshivabucher]

Anything else besides for 1st months payment was paid at pick up?
Sound like a very good price

well in theory he put 2500 down via trade

[joe1234]

I have a 22 Honda odyssey ex that I leased through US bank. They don't let 3rd party buyouts. what is my best option now? To just trade into a Honda dealer for another odyssey and hopefully get a good rate? Would that work?

[avromie7]

I have a 22 Honda odyssey ex that I leased through US bank. They don't let 3rd party buyouts. what is my best option now? To just trade into a Honda dealer for another odyssey and hopefully get a good rate? Would that work?

Do you have any equity? Why don't you buy it out?

[Triple Canopy]

What's going on with this new senate bill S.7553-A that I saw the ad about?

It looks like it requires brokers to disclose their broker fees/commissions and require a physical address. Both seem like consumer wins

[TheAsh]

well in theory he put 2500 down via trade

He probably had a Honda loyalty bonus as well.

[joe1234]

Do you have any equity? Why don't you buy it out?

buyout is around 24k. I would like a newer lease...

[TheAsh]

buyout is around 24k. I would like a newer lease...

How many miles? I know people who.may be interested

[joe1234]

How many miles? I know people who.may be interested

around 24k miles. I don't want to get nailed with the taxes on the buyout, and they don't let 3rd party buyouts..

[avromie7]

around 24k miles. I don't want to get nailed with the taxes on the buyout, and they don't let 3rd party buyouts..

1. Buy out and sell. You should have enough equity to cover taxes and make a few $k. If you have a close family member who wants it, you can gift it to them so they don't pay taxes on it.
2. Buy it and keep for a year or so before selling. You'll pay less than a new lease and there is a good chance lease rates will go down too.
3. Trade it in to a Honda dealer for a new Honda lease. They can buy it without paying taxes, but they'll likely give you the lowest offer.

[notyettaken]

around 24k miles. I don't want to get nailed with the taxes on the buyout, and they don't let 3rd party buyouts..

if you buy and right away resell in nj you can get your taxes back. you can call nj division of taxation to confirm.

[joe1234]

if you buy and right away resell in nj you can get your taxes back. you can call nj division of taxation to confirm.

anyone with experience on this?

[joe1234]

1. Buy out and sell. You should have enough equity to cover taxes and make a few $k. If you have a close family member who wants it, you can gift it to them so they don't pay taxes on it.
2. Buy it and keep for a year or so before selling. You'll pay less than a new lease and there is a good chance lease rates will go down too.
3. Trade it in to a Honda dealer for a new Honda lease. They can buy it without paying taxes, but they'll likely give you the lowest offer.

2. I just extended the lease for 6 months and might try to do it again.. just not sure if prices of used cars will also go down, so may not be such a good move...
3. will they up their offer if I lease a new van through them? do they do that?

[avromie7]

2. I just extended the lease for 6 months and might try to do it again.. just not sure if prices of used cars will also go down, so may not be such a good move...
3. will they up their offer if I lease a new van through them? do they do that?

Used prices will probably come down too, but you reduce the loan balance every month. What will your buyout be in 6 months?

They may give you a better offer, but likely not the best.

[VacationLover]

Anything else besides for 1st months payment was paid at pick up?
Sound like a very good price

Actually, Didn't pay the first month. Payments starting from second month.

[Triple Canopy]

Your trade in was $2405. You effectively put $2405 down on a lease. Your payment is really $621 a month

[VacationLover]

Your trade in was $2405. You effectively put $2405 down on a lease. Your payment is really $621 a month

After considering that payments start from the second month, it would be equivalent to $605 a month.

[can]

Actually, Didn't pay the first month. Payments starting from second month.

Nice!
comes out to about 5.5% discount off MSRP

[DeerFeet]

Hi everyone,

I'm new to the leasing world and could use some pointers as I have two leases coming to an end. I would appreciate any advice on my next best move and recommendations on articles or resources to understand my options better.

Car 1: 2020 Hyundai Elantra SEL
Mileage: ~40,000 miles
Buyout Price: $12.3k
Lease End Date: July 2024 (36 months)

Car 2: 2021 Honda CR-V Special Edition
Mileage: ~35,000 miles
Buyout Price: $17.8k
Lease End Date: October 2024 (36 months)

I didn't love either of the cars and would like to get into a new leases...

[Jeremiah]

Looking to buyout my vehicle from Honda finance. Rep told me it’s possible to pay with cc but $4.95 per transaction. She didn’t sound like she knew what she was talking about.
Has anyone had experience with this? Is it possible I will get charged as cash advance?