2 years into lease: dealer wants to pay off and put me in new one? Scam??

mami_love8110mami_love8110 Member Posts: 3
edited August 2014 in Honda
Hello! I got my 2012 Ody EX-L (no nav or dvd) 1 week shy of two years ago. It was involved in an accident (others fault) which has been fixed but it was $3k+ in damages and slight frame damage. Other than that's its in exelent condition (and looks excellent after repairs too). It's also at 31k miles with a 36k mile allowance with 12 months to go. Our only vehicle so I will be way over (about $2-$2.5k in over fees). We did have plans on returning it. Paying the over milage fee, after leasing another (3 kids in car seats)

I got a call that I could get the lease paid off, put into a new 2014 with 15k no money down same payment. Seems like there's a catch?

Comments

  • kyfdxkyfdx Moderator Posts: 207,899

    @mami_love8110‌

    It's not really a scam... It's just working sales leads. It's possible they may be able to take you out of your lease for nothing. Odysseys have pretty strong resale value. There isn't a sponsored "pull-ahead" program, so they can only do it if your Odyssey has a wholesale value equal to the lease payoff. Of course, that accident will work against you, when they value your car.

    If they can truly take it in trade and pay off your lease, you should still bargain hard on the new one. Try to leave out the part about your end of lease charges a year from now... and, get the best deal you can on the new one. Maybe, they will take it in trade and you can get out with a $450/mo. payment?

    But, they won't know the true numbers until their used car guy sees your trade. Everything up until now is designed to just get you into the dealership. You say you don't want any BS, but you won't know if it's truly achievable, until you try. A couple of hours for a chance at a good deal is worth checking out.

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  • mami_love8110mami_love8110 Member Posts: 3
    OK great thanks. I just wanted to make sure it wasn't one of those ridiculous "we can put you in a brand new vehicle for $50 a month for 36months!" Deals where the deal they told me to get me is is no where near what I can get. I'm a go check it out soon. If anything I love my van and the new ones aren't much different cause I'm not upgrading in trim so I won't be tempted with the shinny-ness
  • kyfdxkyfdx Moderator Posts: 207,899

    Yeah... the best time to shop is when you don't have to make a deal.

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  • mami_love8110mami_love8110 Member Posts: 3
    What numbers should I be looking for on the paperwork when I get there? Like residual and such.
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