Need help on selling my lease...
Thread Starter
Joined: Sep 2001
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From: San Antonio, Texas
Rep Power: 377 
Need help on selling my lease... Well, this is continued from my other thread about my family getting a new smaller SUV...which we decided on the 02/03 Honda CR-V to replace my car. The only problem now, is that when my dad got me my 2001 Civic, appearantly he got the good old Baloon Payment Lease. Well, the lease is up the 4rth of this December. So, my question is, what would be the best way of getting rid of my car before that time. There are probably alot of options, but I'd like to do this A.S.A.P. for a couple of reasons. Any thoughts and suggestions would be HIGHLY appreciated...
I will also be talking to the Honda Dealership where we originally purchased the car tomorrow for some ideas along with taking it to CarMax for a free quote.
Thanks.
I will also be talking to the Honda Dealership where we originally purchased the car tomorrow for some ideas along with taking it to CarMax for a free quote.
Thanks.
Registered!!
Joined: Nov 2003
Posts: 126
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From: Honolulu
Rep Power: 0 Forgive my misunderstanding, but dont you return the car to the dealership that you leased it from? You would have to talk with them about "buying-out" the rest of your lease. My cousin leased her civic from Honda, and she just traded it for the newest model whenever they came out/her lease was up.
You'd have to buy-out the rest of your lease.
You'd have to buy-out the rest of your lease.
Thread Starter
Joined: Sep 2001
Posts: 7,651
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From: San Antonio, Texas
Rep Power: 377 Update:
Well, I went to CarMax to get it appraised.
2001 Honda Civic LX
Nighthawk Black Pearl
38,380 Miles
OEM Spoiler
OEM Lip Kit
They've offered me $9,100. That offer is good for a week. I've got one more place to go to get it appraised. And I think I'm going to go this route to get out of my lease. I will pay the difference from that and my Payoff which should be less then just paying the last 4 payments of my car and just turning it back into Honda. If I were to do that though...Honda has told me that I would need to make an appointment with one of their adjusters to look it over. If I were to pay the remaining payments on my car, it would come out to roughly $950 so I think paying the difference is going to be cheaper. I'll keep you updated...oh yeah...today Hefe help me put my car back to STOCK...
Well, I went to CarMax to get it appraised.
2001 Honda Civic LX
Nighthawk Black Pearl
38,380 Miles
OEM Spoiler
OEM Lip Kit
They've offered me $9,100. That offer is good for a week. I've got one more place to go to get it appraised. And I think I'm going to go this route to get out of my lease. I will pay the difference from that and my Payoff which should be less then just paying the last 4 payments of my car and just turning it back into Honda. If I were to do that though...Honda has told me that I would need to make an appointment with one of their adjusters to look it over. If I were to pay the remaining payments on my car, it would come out to roughly $950 so I think paying the difference is going to be cheaper. I'll keep you updated...oh yeah...today Hefe help me put my car back to STOCK...
But it's a Dry Heat
Joined: May 2003
Posts: 2,025
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From: 909
Rep Power: 0 So I guess I am a bit confused here. You are buying a CRV...getting rid of your Vic...purchase price on the CRV ~$17k and you owe $9k on the Vic and you mentioned something about the Honda $tealership making the rest of your payments on the Vic and rolling you out of your lease but adding that money to the purchase price of the CRV. Right?
I am assuming manual with the spoiler (no option on KBB for the lip kit) =
$8530 Trade in
$9900 Private Party
CRVs in your area are expensive...looks like 2003 are going from $21k to $17k for a 1 year old vehicle...My wife and I ran into this situation when we bought her CRV. The used ones are just as expensive as the new ones (payment wise). A Used car loan is going to be at a higher interest rate than a new car purchase...So I would weigh that in as well.
Good luck man, I would make the $tealer eat the Civic, get your own financing thru a credit union before you go back...DO NOT USE THEIR FINANCING!!!!...and if they won't deal...walk. Just because you have decided on a CRV, don't let them bend you over for it. On the flip side of that, if you are willing to pay what you have set up, go for it...I would just make them eat the Civic in the deal.
I am assuming manual with the spoiler (no option on KBB for the lip kit) =
$8530 Trade in
$9900 Private Party
CRVs in your area are expensive...looks like 2003 are going from $21k to $17k for a 1 year old vehicle...My wife and I ran into this situation when we bought her CRV. The used ones are just as expensive as the new ones (payment wise). A Used car loan is going to be at a higher interest rate than a new car purchase...So I would weigh that in as well.
Good luck man, I would make the $tealer eat the Civic, get your own financing thru a credit union before you go back...DO NOT USE THEIR FINANCING!!!!...and if they won't deal...walk. Just because you have decided on a CRV, don't let them bend you over for it. On the flip side of that, if you are willing to pay what you have set up, go for it...I would just make them eat the Civic in the deal.
Second Place is the First Loser
iTrader: (1)
Joined: Oct 2001
Posts: 4,469
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From: San Antonio, Texas, US
Rep Power: 343
Originally Posted by l00pb4k
Good luck man, I would make the $tealer eat the Civic, get your own financing thru a credit union before you go back...DO NOT USE THEIR FINANCING!!!!...and if they won't deal...walk. Just because you have decided on a CRV, don't let them bend you over for it. On the flip side of that, if you are willing to pay what you have set up, go for it...I would just make them eat the Civic in the deal.
Thread Starter
Joined: Sep 2001
Posts: 7,651
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From: San Antonio, Texas
Rep Power: 377 Originally, the Lease was a Balloon payment at the end of the Lease. I could either re-finance that amount (buy it), or take it Honda, let them put me in another Honda, or take it to Honda, and have them buy it back and me walk away. My payoff is about 9800 or so, and since CarMax is giving me 9100, I would just have to pay the difference to have them buy it out right. I still haven't gone to the "Dealer" that's selling me the CRV. It's a Toyota Dealership and I'm gonna try and make him buy the entire thing. I've already gotten financing at 4%, so I've got that covered. I think I'm gonna make him an offer 16-16.5 out the door, if he refuses oh well. Nothing lost
Thread Starter
Joined: Sep 2001
Posts: 7,651
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From: San Antonio, Texas
Rep Power: 377
Originally Posted by CiViCPrAnInG2k1
im just curious on why are you selling the car and expecting people to buy and pay you the market value if you still owe honda some money?
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