I’m pretty sure they won’t match. Why would they give you $2.5k on top of their buyout? But you’d need to keep transactions separate - you can say that you will only do new deal if they match. But then again, they may match but will not give you the deal you want on the new car. So sell it to Carvana and shop freely.
I guess the buyout fee is waived for Honda dealers.
I think your best bet is to negotiate with 2 or 3 of your local Honda dealers. Tell them you don’t have a trade in. Once you feel like you’ve gotten each dealers best number then ask them to appraise your car. Go with whichever dealers gives you the best deal on your new car and the most for your trade in. Worst case scenario is that you negotiated your best new lease and sell to Carvana if they don’t match or beat them.
So, the payoff for you or Honda is $14,049, but the payoff to Carvana is $14,423? That’s $374 more, which is an odd number. Try asking AHF what the difference is. There shouldn’t be tax if Carvana has to pay a $350 purchase option fee. Most lenders charge a disposition fee if you give it back to them without getting another one of their cars. If you buy it or have someone else buy it, there’s often a purchase option fee.
You say Carvana offered you $16,373 and the dealer $16,000? Asking the dealer to pay a little more shouldn’t be a big deal- they’re not paying $14,049 for it like Ursus thinks, right? As it stands, you’re netting about $2K selling to either, right? If the dealer pays you more, you’re ahead of Carvana (assuming they have to pay $374 more) and you won’t have to worry about Carvana backing out after you’ve leased the new car, plus it’s all in one place- simpler.
Thanks. Thats really good advice. The only problem is 3 of the dealers know me. So I guess I gotta go incognito to the one that probably forgot about me
They already said they’d match Carmax at 16K, so I can’t imagine that they would actually let me walk out over less than $400
It’s $350 + tax they said. I would like to do everything in one shot. I just opened up my email and saw that Vroom offered me $15,750. Wow, thats crazy. Tomorrow is election day, I gotta think that dealers will be slow as shit. I’m going to hit them all up and get this done.
Yeah, missed that. Hopefully they really will pay what they told you.
This website is amazing, thank you all for you help and advice. You’ve really opened my eyes to the power of math. As I said in 8th grade, Math is the only subject that you need to pay attention to.
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$350 + tax sounds odd, unless the $14,049 includes tax. If so, that would be a big plus for @Troutstanding. If the $14,049 doesn’t include tax, which I think is likely, there shouldn’t be tax on the $350, it should be $14,399. Assuming the numbers are all valid, you’re already at break-even trading the car to the dealer at $16K.
Have you hacked the new Civic lease?
I haven’t “hacked” the new civic lease yet because they are just arriving at the dealerships.
More work to be done on that end than grinding more than $2K out of your old Civic, in my opinion. I think I’ve seen threads on this forum on the new Civic. You should find good info here:
I can’t find anything on the 2019’s.
@KD6-3.7 is right. You’ll net $1,950 with either option unless that $350 is removed from Carvana payoff. I lean towards selling to Carvana because I can almost guarantee that after grinding the dealer for a while they’ll say “this is the best we can do because we’re giving you $16k for your trade in”
A broker in your area well versed in Honda might be worthwhile. Where are you located, Standingtrout?
I’m confused. Are you guys talking about the tax on the $350? I really don’t care about 20-30 bucks. I’m in South Florida, I just saw your post. You guys are awesome.
Why don’t I just pass the sales manager a note “I’ve been on Leashackr.com, don’t fu** with me”, you’ll give me what I tell you to give me, or I’ll…
Another thing I wanted to comment on. I read a lot about how Hondas don’t lease well. I knew when I leased this car that I was going to have equity on it. Its a red Civic Si, people like to mess with these cars.
It seems odd to add tax to a purchase option fee, but not the payoff. Makes me wonder if the payoff has tax in it. You should be able to avoid the tax on all of it, although I’m not familiar with Florida. The tax amount is trivial, but it implies the possibility of a bunch of tax might also be in the $14,049 amount. If there is, you might be able to get the payoff reduced by the tax in it.
Have you asked any of these Honda dealers to buy the car outright at the Carvana number, thus keeping the transaction completely separate?
Why would that be necessary, assuming he was leasing the new Honda from that dealer?