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2 years into lease: dealer wants to pay off and put me in new one? Scam??
mami_love8110
Member Posts: 3
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?
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?
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@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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Yeah... the best time to shop is when you don't have to make a deal.
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