I had 7 months left on the lease of my 2019 Acura TLX A-Spec and I started getting inquiries from dealerships offering to purchase it. It had very low miles (8k) and I learned thru some research that I had some positive equity in it so I ended up selling it to CarMax making a nice chunk of change. However, I noticed that Acura Financial still charged the lease turn in fee of $350. It was my understanding that that fee would be if I turned it in at the end of the lease and that charge is for them to recondition it, etc. getting it ready to resell. Since they aren’t the ones that got the car, shouldn’t that fee have not been assessed? I mean technically the car was purchased by a third party and not turned back in to Acura so why do they get to collect a fee when they don’t have to do anything with the car.
What does your lease agreement say?
I believe you’ll find when you read the contract that it says “$350 fee due if you do not purchase the vehicle”.
Honda / Acura has been charging this fee forever to people who sell the car to a 3rd party.
Some light reading on the subject, if you are interested:
Right or wrong, they are probably more interested in getting every penny they can from these third party sales in the current climate.
Yeah that’s how I think they interpret it. I didn’t purchase it, a third party did so I still owe the fee. I don’t necessarily agree that they should be entitled to collect a fee for it being turned in when in fact they aren’t getting it back and will not incur any costs associating with reconditioning it for resale.
They shouldn’t call it a turn in fee then because the car wasn’t turned in to them. I have leased four cars over the years and always planned well in advance for the end of lease turn-in/disposition fee. I don’t really think it applies to this situation but Acura Financial thinks otherwise.
What does your lease agreement say?
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