You’ve gotten some good advise here, but it sounds like you really shouldn’t be dealing with any dealers on your own for the new lease. An honest broker would probably be the easiest thing for you for a variety of reasons. I’m not really familiar with the market back east and can’t think of a Honda specialist, but someone like @Jrouleau426 could help make sure you get you a better deal on a Toyota (Highlander, Rav4, etc.), the process should be much easier, and they’re relatively close to you I believe. Otherwise, you’d likely be best to just find another well reviewed broker on here near you.
And don’t feel bad using a broker…very knowledgeable people do sometimes just because it’s quicker, easier, avoids a lot of hassle, and can be better than anything you’d get on your own even after hours/days of work.
Thank you very much
@Walper I previously had an $1100 positive offer from Carvana and walked away From pure panic of handling everything at once. I turned my lease into the dealer and they bought it directly from the lender.What should I have done to get the dealer to buy and hand me a check? I did ask If they are purchasing it and they said not interested, but at the end of the day I was the idiot who gave them the keys because I didn’t know any better. Instead of turning in I only had 2 options, right? Sell to Carvana or purchase ,right? No matter how many post I read I’m a slow learner lol
Tell them you want to trade it in if they’ll match carvana’s price. They can still say no, but that’s how you would have tried to negotiate them purchasing it.
Yes everything happening all at once can be overwhelming. I’m sorry you missed out on the positive equity. You could have traded the car in as a “down payment” although it is hard to follow the numbers when they use the positive equity since they can put a little here or there or make it seem they are doing you a favor but in reality are raising the MF or jacking some other price up. The best thing to do is keep the 2 transactions completely separate if possible. You could have sold to carvana, which yes can take a few days to a few weeks. You could have gotten an offer from carmax who could have purchased the car right there on the spot. The best thing to do is know your payoff and not rely on anything that the dealer tells you, and know your numbers of where you need to be before walking into or talking to a dealer. It also depends on the leasing company, US BANK and ALLY have different buyouts for individuals vs dealers and they can be a huge difference. I had a GMC Terrain, my buyout was 14k and the dealer buy out was 19k! I bought the car from GMC, titled it, and then sold it the next day to Carmax for 2500 profit after all was said and done. Best thing to do is just never turn a lease in without doing some research first. Hope you got a good deal on your car though!
So would I just tell them if they aren’t interested in buying I’ll keep it? They knew I wAs turning it in regardless so that’s where I’m confused with why they would actually pay me for the equity vs just waiting until it’s grounded and purchase w the lender. I know I sound like an idiot it’s just not Making sense especially when the dealers are trying to tell me I can’t do anything like we are talking about
You tell them “if you’re interested in buying it, here’s the price carvana offered. If you can match it, it’s yours.” And then if they don’t buy it, you keep it and sell it to carvana.
Or they meet you most of the way and you say yes so you don’t have to deal with selling it to carvana. The whole point is you should be controlling the deal and then choose what’s best for you.
Thanks guys! I think it finally makes sense now!
I have been working a passport sport awd deal here in Arizona. I have the dealer down to 415.00 a month all in. With absolutely no money down , everything rolled and they pay the first months lease payment!! 3 year 12k a year on miles. 11% off msrp.
On a side note… good deal guys???
Sorry yes if you have negative equity or if the car was in a wreck etc, you turn the car in. You pay the lease termination fee and hope they don’t nickel and dime you for damages. If you lease another of the same brand they waive damage (usually up to $500-1000 depending on brand) and they waive the disposition fee/turn in fee as well. Sorry for not being clearer. There are instances where this is the best case scenario to just turn it in and walk away. Just be sure to check the value of the car before turning it in.
Is that before or after incentives?
$415 seems high for a sport trim.
Hi. I leased a 2020 Pilot EX-L through RODO at the end of July for $383 with just 1st month payment. 36/12…Prices show higher in the app now but still less than the #'s you were quoted. You can use RODO as a baseline for the offers you receive personally. My experience, RODO’s prices go down toward the end of the month as dealers are trying to make their numbers.
Using a broker on here might also be a good idea if you don’t feel comfortable doing the work yourself. It will save you from potentially falling for additional add-on’s the finance guy might try to pull on you.
11% is before incentives as the Passport sport awd doesn’t have any that I am aware of. Keep in mind this is absolutely nothing out of my pocket, the 415 Is the total monthly payment, and they are paying my first payment
Rodo said no dealers in my network. I’m fairly savvy when it comes to leasing thanks to this site and have scored some amazing leases in the past, but I don’t claim to know everything. Does anyone know a go to dealer Or broker here in Phoenix ?
The $400 per month is about right. Here is a local ad https://www.huntingtonhondacars.com/lease-deals-long-island.htm, their ads change and up until last week were also advertising the Pilot EXL at the same price as the Passport EXL, $329 a month. To figure out what that translate into with taxes, for each $1000 that you are rolling in (not paying upfront) add $30 to the payment. So assuming taxes, DMV and Bank fee ($595 with Honda) would cost you about $2100 (did not do the calculation but it is easy enough), then you should be paying about $390 per month plus first months payment based on the ad. I have bought from them before and have gotten the ad price each time but last time was 3 years ago in a very different market. I am in the area so if you have questions. Plus I came very close to getting a CRV last month ended up with a Rogue instead Good Luck
Advertised specials aren’t often that good of deals
I have had interesting experiences with them in the past. Twice I have gotten advertised specials, the trick is to be willing to take exactly what is in the ad and to know what is supposed to be there and what is not supposed to be there (for example, if there is a destination fee or prep fee, run!) Most people do not want what is in the ad. Both times, most recently in 2017, I got the base Accord LX with nothing added, 0 down, taxes, DMV and first month and bank upfront. And I paid exactly that. I also go in the last few days of the month and only to high volume dealers. My last Accord deal was $159 a month. I called a couple of brokers in my area and was willing to take any mid size sedan, Camry, Altima or Accord and this was by far the best deal (after a long comversation about holdbacks and other topics, both brokers said take the deal if you can get it (I did). In general, in my area larger Honda dealers will honor the ads of course YMMV and even this time a dealer out of my area honored his ad. He had originally quoted me $315 on a CRV plus Taxes, bank, dealer fees (my area does not charge that), first payment and DMV. Then I found the guys ad online for $235 on a CRV LX with those same things except no bank fee and $2000 upfront but I could apply conquest to reduce it by $750. So I asked him if he would be willing to apply the LX numbers to an EX equivalent. Ended up with something like $290 plus $2200 upfront total for an EX. Similar numbers for EXL. Would have gotten it except I ended up with the Rogue instead. Note, this deal is nothing like my Accord but in my area inventory is non existent, dealers are not responding to deal emails because there are a lot of people buying cars for the first time due to Covid and fear of the subway
Besides, the ad I quoted is better than what the Ohio dealer told OP to try to get!
Had a completely different experience with the Chevy and Nissan dealers in my area. They had all sorts of hidden fees in their ads. And really did not seem to want to deal, found the highest volume dealership in my area and dealt with them
On Saturday I signed on a 2020 Honda Pilot Touring. I think I got an OK deal. 12K/36 months, $449/month, 0 down, taxes rolled in. Only 1st month and DMV DAS. Dealer said I could pick up in a few hours. I got a text a few hours later saying they could not locate the original MSO and can’t deliver the car without it. They have to get it from Honda and that can take up to a week? In the meantime I paid 1st month and DMV fee. Should I be concerned something shady is up? Dealer gets good reviews. It’s my first lease deal so I’m uneasy. Thanks everyone.