Can I Trade-in my lease car for an accord at the end of my lease?

dcyuendcyuen Member Posts: 5
edited August 2019 in Honda
Hi guys,

My lease ends July2020. I'm currently leasing a 2017 Toyota Corolla IM. How does trade-in works if I end up with an Accord LX at the Honda car dealership? If yes, how much do they usually offer if I buy a car from them? Thank you! Also, best time to shop for a car is before New year or after? I wouldn't mind 2019 or 2020. Thank you!

Best,
Don
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Answers

  • MichaellMichaell ColoradoModerator Posts: 207,945
    dcyuen said:

    Hi guys,

    My lease ends July2020. I'm currently leasing a 2017 Toyota Corolla IM. How does trade-in works if I end up with an Accord LX at the Honda car dealership? If yes, how much do they usually offer if I buy a car from them? Thank you! Also, best time to shop for a car is before New year or after? I wouldn't mind 2019 or 2020. Thank you!

    Best,
    Don

    Most leases are not set up in a way where you have positive equity at the end. My suggestion would be to simply turn in your Toyota, then lease the Honda as two separate transactions.

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  • dcyuendcyuen Member Posts: 5
    Hi Michaell, I appreciated for your input. It's going to be my first time purchasing a car, super excited...
  • MichaellMichaell ColoradoModerator Posts: 207,945
    dcyuen said:

    Hi Michaell, I appreciated for your input. It's going to be my first time purchasing a car, super excited...

    I get it. I leased a car 3 years ago, and within 6 months I was test driving possible replacements....

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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