I do not know if this has been posted yet but as of July 14th, AHFC will temporarily stop non-Honda and non-Acura dealer purchases of lease vehicles.
Wow, it’s spreading fast. Who is next, TFS?
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I actually just lost a bet (with nobody here on LH): I had AFS/HFS after TFS.
This is not shocking, TFS won’t shock me either
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According to the other thread (The one Michael started about Lease Buyouts)
Something is up with TFS as well.
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I don’t doubt this is true, but do you have a source / additional information? Just wondering where this is coming from.
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The info came from a bulletin on Honda IN
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Is this effective immediately or as of the 14th?
14th so you have 3 days left
Thanks. Going to try to sell by then and borrow a car a few days if needed until we get a new one.
Leased a RX 350 yesterday after trading in my 2020. Sounded like TFS/LFS will stop allowing 3rd party trade in soon. Only allowed to go back to dealer you leased from.
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Someone posted Aug 1st
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Shift just canceled my appointment for tomorrow, despite the reported effective date of 7/14. Guess I’m going to have to just get some quotes from dealers.
Does CarMax still buy from Honda?
Theoretically until they stop. We had reports as recently as this past weekend. Keep in mind Honda/Acura will likely still charge the disposition fee even if you sell to a 3rd party, based on the language in the lease agreements.
Carmax tells me Wednesday is the last day they can purchase it. I have an appointment but I’m not sure how confident I should be that the sale will be able to go through.
Personally I would not wait until the very last possible day …
No appointments available today or tomorrow, and hard for me to just swing by. I certainly don’t want to spend 30 min driving there to find out they can’t buy it. So I don’t know what I’m going to do.
Well I got an appointment for tomorrow night at a different location a little further away. Will report back!
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I am assuming that the lessee can still purchase the vehicle for the payoff amount and then turn around and sell it to CarMax, etc., and that this only affects trading in a leased Honda to a non-Honda/Acura dealership?