TSX Lease Ending

redrobin1

I have a TSX lease which will end on 8/1/14 with 12K. The TSX non navi has approx. 35,000 miles on it. I was contacted to get out of the lease two months early. I am currently paying 380.91 and the offer on the same type of car is 377.62 with 209.90 for tax and transfer. Is this a good deal and are there any reasons to get out early or stay in until the end? I also checked the trade in value and it was 21,174. The buyout amount is 18,601. I do not want to purchase the 2011 but should I somehow use that $3,000. in my negotiations? Any help would be greatly appreciated! - clear

kyfdx

@redrobin1 said:
I have a TSX lease which will end on 8/1/14 with 12K. The TSX non navi has approx. 35,000 miles on it. I was contacted to get out of the lease two months early. I am currently paying 380.91 and the offer on the same type of car is 377.62 with 209.90 for tax and transfer. Is this a good deal and are there any reasons to get out early or stay in until the end? I also checked the trade in value and it was 21,174. The buyout amount is 18,601. I do not want to purchase the 2011 but should I somehow use that $3,000. in my negotiations? Any help would be greatly appreciated! - clear

There isn't really any reason to keep it until lease end, if they can take you out of it, with no cost. The preferred method (for you), is that they take the car in trade, and payoff the bank, so that the dealer owns the car. If they do that, then there is no chance of lease-end charges to you. If they are just offering to cover your last two lease payments, then that may leave you open to charges from the bank.

If you really have $2500 of equity in the vehicle, then you should bring that up in negotiations.. There is no reason that they couldn't cut you a check for the difference, if they are taking your car in trade.