End Lease Civic 2020

Ask the Hackrs
1

Hello all,

Looking for some insight on a lease end on 2020 Honda civic. Trying to figure out the more profitable route to take.

Payout amount: 15k
Mileage: 13700.
Carmax offered 24600
Honda dealership: 19-21k

Due to the newest updates on the lease buyout agreement I would have to buy from Honda and then sell to carmax and dealerships are not willing to match carmax nor get close to the offer.

Would it be better to pay 15k to Honda then sell to carmax for 24k or should I sell to Honda for 21 to avoid paying taxes?

I would really appreciate your help on this.

TIA

2

What is the applicable tax?

3

You’d lose out on $3,600 to avoid paying ~$900 in tax.

4 Likes
4

Try equityhackr on front page

2 Likes
5

Yes.

10char

1 Like
6

Yes pay it off to Honda. Hondas especially civics getting top dollar during this market.

7

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