Hi everyone, first time posting here after just joining yesterday and reading some forums on here.
I have a few questions about my Honda Lease. I currently am leasing a 2022 Civic for $355 a month. On Honda Financial’s website it shows my pay off / purchase price as $28,103. I live in Ohio and was wondering if I were to get a loan to pay this off what other fees would be due? I am unsure if taxes are included in the purchase price listed above or not.
I’m looking at getting a Jeep Wrangler and some of the dealerships online trade in tools show they will give me $31,000 for my car. When leasing a Jeep Wrangler I would like to use the equity (if I have any) and put it towards the Jeep. Looking at around a $44,000 Sport Altitude or a Sport S (Probably going to order one to try and avoid unnecessary dealers add ons, which should also give me time to pay off car and receive the title). I’m looking to be at around $400 or so a month on a 48 month lease with 12,000 miles. I can put another few thousand down if needed to get this price and also looking to take advantage of the $500 first responder credit.
This of course is all contingent on what all fees and taxes etc… I would have to pay when buying out my lease. I don’t mind keeping the my current car if I’m not going to get a price I’m comfortable with. I do love it but I’ve just always wanted a Jeep and am now in a place where I can financially do so.
Any and all insight/advice/tips/suggestions is welcomed. I’m no expert and would to learn more about what is the best way to go about this if I am to pull the trigger. Thanks everyone and have a great day!
I had a Honda lease I bought out to get the equity since I could not have a 3rd party buy it out.
You would need to buy it out yourself - shop around for a used car loan.
Just don’t go to the dealer for this - deal direct with Honda Financial.
My local CU offered 2.24% for 60 months and did the paperwork with Honda Financial Lease and bought out the car plus tax and registration - this is for CA - your state may differ on taxes, registration, license, inspection, etc…
Just got the registration and lien holder changed.
Looking for a car to trade it towards - very hard to find inventory of what I am looking for:
Audi eTron or BMW X5 45e.
I actually have been looking at the 4xe as well! Very interested in it. Only thing that worries me is I have seen people on here having problems with it breaking down. I’m sure this is a very, very small percentage of people but it’s just something that puts me off quite a bit. Overall though, I love the idea of getting a 4xe. I’ve read conflicting things on how to qualify for the $7500 tax credit. I’ve also seen people get really good Lease deals on them. Any more info on the 4xe would also be greatly appreciated! Thank you.
Theres no qualifying on a lease. You either lease through a bank that passes on an equivalent incentive amount (like ccap), or you use a bank that doesnt. Id recommend not using someone other than ccap and i wouldnt recommend buying one where qualifying is based on your tax liability.
