View Poll Results: Turn in an '04 for '09?
Turn in the '04 and lease a '09 S
0
0%
Turn in the '04 and lease a '09 CR
0
0%
Voters: 16. You may not vote on this poll
Turn in an '04 for '09?
01-19-2009, 06:05 AM
#11
Site Moderator
^ I purchased mine at the end of my lease (mine only had 16k miles) and got a better deal than the residual at lease end.
If he leased through Honda, he has to then "buy" the car through a dealer of his choice, mine was a very smooth transaction.
- I voted for him to keep his current S.
If he leased through Honda, he has to then "buy" the car through a dealer of his choice, mine was a very smooth transaction.
- I voted for him to keep his current S.
01-19-2009, 06:24 AM
#12
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Knock $5k off the residual to start with? Wow, without seeing the car or knowing the mileage or anything else about it, you have set a value. Sounds like how BMW sets their residuals. Not every lease out there offered an unrealistic heavily enhanced residual to move the car.
If you are willing to negotiate and the lender is too, make a fair offer to them and ask for a low interest rate loan. You will be better off with conventional loan financing today, on a lower principle amount. Build equity and sell the car later if you want.
Auto leasing is not what it was and hopefully never will be again.
If you are willing to negotiate and the lender is too, make a fair offer to them and ask for a low interest rate loan. You will be better off with conventional loan financing today, on a lower principle amount. Build equity and sell the car later if you want.
Auto leasing is not what it was and hopefully never will be again.
01-19-2009, 06:53 AM
#13
Originally Posted by Mocky' date='Jan 19 2009, 09:18 AM
He's in a very secure job position... His garage keeps his daily driver inside as well.
I'm assuming he knows what you mean by lowering the residual (I don't know what all that means), but if the buyout on a lease is say $15,000 isn't that a fixed price and non-negotiable?
I'm assuming he knows what you mean by lowering the residual (I don't know what all that means), but if the buyout on a lease is say $15,000 isn't that a fixed price and non-negotiable?
(reminds me I need to move somewhere I can have a 3-car garage)As noted above, a reasonable deal can be reached at which time financing can be arranged. A friend of mine liked the Infiniti he leased so much that he negotiated a fair price that was less than the lease payoff, and took out a short loan. Win for him as he really likes the car and wants to keep it a long time, win for the dealer as they don't have to add to their inventory in these tough economic times, win for the bank as they get more interest money from a customer.
It never hurts to ask, the worst they can say is "no", in which case the decision is made for you.
01-19-2009, 09:02 AM
#15
Site Moderator
^ He can't negotiate with Honda (AHFC) but he can negotiate with the dealer, I did without any real difficulty.
He needs to find a different dealer, any dealer can do it for him, all of my paperwork was done via UPS, I never stepped foot into the dealership.
He can only start the process when his lease is ending in a month or less.
He needs to find a different dealer, any dealer can do it for him, all of my paperwork was done via UPS, I never stepped foot into the dealership.
He can only start the process when his lease is ending in a month or less.
01-19-2009, 09:41 AM
#16
Thats not true, I negotiated my Accord with AHFC and that was back in 2001. It was a lease turn in, under mileage. Residuals are value forcasts at time of lease there not set in stone.
01-19-2009, 11:45 AM
#17
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They will listen to a FAIR/REASONABLE offer. Working through a dealer may not be necessary.
Residual values are chaotic right now. There are by far more pre-owned cars available than there is demand. Dealers will start looking for convertibles to have on their lots for spring this month, but that doesn't mean there is a buyer for everyone.
And like Bob said above, if they say no, return the car and look for something else. Just do not expect to 'steal' the car.
Residual values are chaotic right now. There are by far more pre-owned cars available than there is demand. Dealers will start looking for convertibles to have on their lots for spring this month, but that doesn't mean there is a buyer for everyone.
And like Bob said above, if they say no, return the car and look for something else. Just do not expect to 'steal' the car.
01-19-2009, 01:12 PM
#19
Originally Posted by sw05s2k' date='Jan 19 2009, 10:05 AM
^ I purchased mine at the end of my lease (mine only had 16k miles) and got a better deal than the residual at lease end.
If he leased through Honda, he has to then "buy" the car through a dealer of his choice, mine was a very smooth transaction.
- I voted for him to keep his current S.
If he leased through Honda, he has to then "buy" the car through a dealer of his choice, mine was a very smooth transaction.
- I voted for him to keep his current S.
01-21-2009, 11:55 AM
#20
Former Moderator
Thread Starter
Looks like some local dealerships have '09s in stock, but I'm guessing they aren't really "dealing" yet... I told him to call around and see if people are doing deals on them.
Having said that, I think he's going to take everyones advice and buy out his s2000
Having said that, I think he's going to take everyones advice and buy out his s2000