Sale your S2K during a lease?
02-21-2002, 04:15 PM
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Sale your S2K during a lease?
I was talking to the Honda dealer today and he said that with American Honda leases, you have the option of actually selling your car anytime during the lease and paying off Honda. Is this true? I thought with a lease you are stuck unless you pay the big $$$ to get out of it. He said he has had customers lease the vehicle at $32,840 and sell it in a year for around 30.
This seems like a nice option for a lease.
And I think I have decided for the S2000 over the Z3 Coupe. I just hope I can fit golf clubs in there.
This seems like a nice option for a lease.
And I think I have decided for the S2000 over the Z3 Coupe. I just hope I can fit golf clubs in there.
02-21-2002, 05:10 PM
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This IS true. I sold mine while I was leasing it...you just call American Honda Finance and get your balance and then decide on the price that you want to sell it. If you owe $30k and sell it for $28k, then you have to make up the difference for the payoff amount that you owe. If you sell it for over the dollar amount of the balance then you pocket the extra $$.
02-21-2002, 06:51 PM
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You can also have someone assume your lease. Call the finance co for details. Put the car on Ebay, start the bidding at $1 and the person who bids the most, whether it is $10 or $100,000 takes your car as well as the lease payments. They must have good credit and approved to take over the lease by your bank. I've seen this done on 2 S2000's in the last month and it worked. You can also place the ad in the globe. Whoever assumes it will have the same payment and the remainder of the term. If you are "upside down" (owe more than you can sell it for) this is a good solution.
02-21-2002, 07:01 PM
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Thanks for the replies.
this seems like a good way out if one needs to get out of a lease. I am getting ever closer.....
if it wasn't for that damn 350Z that's coming out around august.....
this seems like a good way out if one needs to get out of a lease. I am getting ever closer.....
if it wasn't for that damn 350Z that's coming out around august.....
02-21-2002, 07:03 PM
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Originally posted by loyed
Thanks for the replies.
this seems like a good way out if one needs to get out of a lease. I am getting ever closer.....
if it wasn't for that damn 350Z that's coming out around august.....
Thanks for the replies.
this seems like a good way out if one needs to get out of a lease. I am getting ever closer.....
if it wasn't for that damn 350Z that's coming out around august.....
02-22-2002, 04:25 AM
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Keep in mind that if you want to sell it you CANNOT sell it outright. AMF will ONLY sell it to you, and then you can sell it. This means that you have to pay taxes TWICE for the transfer to take place. On a $30,000 car, this is NOT cheap ($1800 for 6%).
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