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Anyone have experience turning in their lease?

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Old 05-27-2009 | 01:15 PM
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DJRobNM's Avatar
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From: Royal Oak
Default Anyone have experience turning in their lease?

MY2006 Silver/Red.

It's obviously not the one in my sig unless honda has started 8 year leases.

My buyout is $20k.

The car has 18,500 miles so I will be seriously under 36k mileage.

Never been in an accident but has typical wear and tear.

I'm supposed to get it inspected and wondering what to expect?
Old 05-27-2009 | 05:33 PM
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Get the pre-turn in inspection. "Typical wear and tear" can be expensive at lease turn-in. Or you can fix the most expensive damage before turn-in. Have you considered buying it? If you buy it, you pay no damage fees. $20k at 18.5k is fair, & they might give you a better deal. (I know many Cayman leassors were astonished at the deals they got. Some over 20% below buyout.) They have additional costs if you turn it in-it's to their advantage to sell it to you. Be open minded & know your options. You know it needs to be stock at turn-in, right? Four tires, same brand, at least 5 or 6/32nds tread.
I was in the car business briefly. I buy, not lease. Good luck.
Old 05-27-2009 | 05:47 PM
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IIRC Honda leases allocate you 3 "incidents" of wear and tear (e.g. dent in bumper, scratch on door, and scratch on hood) with each incident not to exceed $500. Call your local Honda dealer to see if your lease had those terms.

Other than that, as long as you're under mileage (which you are) then you should be good.
Old 05-28-2009 | 11:59 AM
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Originally Posted by rickgpt,May 27 2009, 08:33 PM
Get the pre-turn in inspection. "Typical wear and tear" can be expensive at lease turn-in. Or you can fix the most expensive damage before turn-in. Have you considered buying it? If you buy it, you pay no damage fees. $20k at 18.5k is fair, & they might give you a better deal. (I know many Cayman leassors were astonished at the deals they got. Some over 20% below buyout.) They have additional costs if you turn it in-it's to their advantage to sell it to you. Be open minded & know your options. You know it needs to be stock at turn-in, right? Four tires, same brand, at least 5 or 6/32nds tread.
I was in the car business briefly. I buy, not lease. Good luck.
I asked if they negotiate the buyout price and they said no. I would like to keep the car but i have an fx45 and I don't really need two cars right now. Even if I could extend my lease to the end of summer, my insurance has gone up significantly for the s2000 and I think I want a bike.

If they would finance and sell me the car for 15k i'd probably do it.

I think I'm gonna have somebody fix the obvious stuff before I take it in for inspection.
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