Lease ending advice. Looking for lower payments/a deal

Ask the Hackrs
1

My 2013 Civic lease is coming to an end. My current payments are 199 (223 after tax). Got it with 0 due at signing/residual value of 12050.50.

If I can lower that monthly payment on the next lease by 30 dollars (or more) I’ll consider it a win. I’m in Los Angeles, but I don’t drive much. My current car has less than 15,000 miles on it.

Have been looking at Kia to see if I can score something cheaper, but I am not beholden. A Fit would be cool.

Can anyone point me in the right direction of a good value for my next lease?

2

This might be a good place to start: Best Manufacturers to Lease?

Also, make sure to get offers from Carmax and other car-buying services on your Civic. With only 15k miles on it, you can probably sell it for more than the residual value.

3

Heading to CarMax, ASAP. Don’t have high hopes for my car given the quick and dirty KBB I did online, but we’ll see. I guess anything over the buyout is a good offer?

Speaking of, when should I bring up that it’s a lease at CarMax? Any additional advice there?

4

They’ll walk you through the whole process of getting a quote and make it very simple. One of the first thing’s they’ll ask is if it’s financed or leased. They will call the leasing company to get a payoff quote.

5

Thanks. Seems unlikely they’ll offer me more than the payoff, right?

6

You never know till you try? The Honda dealer may give you more than the Carmax, especially if there is some bumper to bumper warranty left on it.

7

Honda dealer? As in buy their leased car back? Or a different one?

8

It’s not the dealer’s car. It belongs to the bank, i.e. Honda finance or whomever you pay the monthly payment to. Same as if you’d financed the car.

The dealers buy and sell used cars all the time. From individuals, auctions, etc. Not sure about Honda, but they may have programs that will save you money by being a loyal customer.

1 Like
9

I guess my point was don’t just turn the car in and pay the disposition fee if there’s a good chance you have positive equity in it.

10

3 years old Civic with 15K miles? Sell it/trade it in, pay off your lease, pocket the money and look at another lease.

11

Carmax only offered 12,500, which is 50 dollars less than the payoff.

12

Not sure if Beepi is in your area if it is you should check them out-

https://www.beepi.com/

TT

13

Try a Honda dealer or independent dealer.

$50 is less than the disposition fee if Honda does not have a waiver program if you lease/buy another Honda.

14

Beepi looks good. I’ve put in for an inspection to see what they’ll offer me.

Any stories to share from using them in the past?

In the meantime, I’m still out looking for a cheap lease, if anyone has any leads or recommendations. I’m in the LA area.

15

Did you check out that link I posted above? Someone asked a similar question a few days ago and got some good responses.

16

Checked it. Looks promising. I’m currently trying to figure out what I can expect from a Kia Forte lease using the calculator linked to in the Optima thread. Seems like, with a dealer discount and then the lease cash, I should be able to walk off with only a monthly payment of around 150 or so.

Am I doing that right?

17

If you are looking at a local dealer’s website, keep in mind that their “sale” prices often include incentives that only apply if you are purchasing the vehicle. You will usually have to send them an email asking for their best sales price and ask them to list any incentives separately.

18

I got an online quote that was for a dealer discount of 2800 and then 2000 purchase incentive. 4800 below MSRP total. I should be able to take that 2800 dealer discount and then add the Lease Cash and get my number, right? Or am I doing that wrong?

19

Yes dealer discount only for the lease price then less any lease cash.

20

I’ve heard very positive responses from individuals. You can also check them out on yelp.com for reviews.

TT