Letting go of my 2017 Acura lease

Ask the Hackrs
1

Hey guys,

I want to get into another car after leasing my 2017 Acura ILX starting June 30th. I got the car with the premium and technology plus packages, which include all of the adaptive cruise control functionality, lane keeping, and some other features. It had an MSRP of $33,900.

The car has payments of $365 for 15k mi/yr including prepaid maintenance. Right now, the payoff is $25,100. What is the best option for me to let the car go without spending too much money out of pocket?

1 Like
2

Try to sell outright first. Get a Carmax appraisal as a baseline and see where you’re at. Shop the car to other buyers (we have AutoBuy down here in FL). If that fails, try to sell privately. If that fails, check with your leasing company to see if you can transfer the lease, if so post here and look into swap a lease or leasetrader

3

I don’t blame you, I like the Acura ILX style (I have a 2016 Premium) but the lack of ‘Honda Civic Tech’ features is disgusting. Take Apple Car Play for example.

4

Unfortunately I don’t believe Honda allows lease transfers if it is financed through Honda Financial. If it is through a different finance company check with them.

5

It is through Acura Financial Services. Do they allow lease transfers?

6

they don’t (20202020)

7

[ Mod edited: SPAM ]

8

@william85 SHUT UP ALREADY!!!

1 Like
9

Well I had a 2016 ILX Premium and my family (wife and any who sat in it) hated it. So I understand even with a fully loaded version why you would want to switch.

You just started your lease June 2017?
You have done 8 months but how many years is your contract for?
Point being there is no way you don’t have negative equity, just after looking quickly on Edmunds your trade in value is $22,500.

Since Acura Honda can’t transfer leases and you can’t do third party sales, your options are rolling over negative equity which I HIGHLY recommend not doing, waiting closer to the end of your lease (3-5 months) and sometimes Acura and/or the dealer will pay off the remaining payments, or when you get closer to the end of your lease just pay out the remaining payments yourself and return the car.

It looks like Acura Financial simply got the residuals wrong on this car, plus the fact that this car just doesn’t stack up well against other compact sedans making the resale terrible.