Which rebates/incentives are you referring to that would be applicable to a used Tesla?
Again, the Tesla thing was more of a passing thought, and I will do my own research on that if it becomes more appealing, but thanks for your passionate two cents.
It is an issue of TCO. If I could sell my car and essentially own my dream car for not that much more than if I just kept this lease, why shouldn’t I? I am willing and able to push my budget a little if that’s the case.
If I went the more economic route, I would be coming in at a TCO that is thousands of dollars lower than if I decided to buy my lease at the end of its term. Either way it’s a win-win if done correctly, and I’d get something I want - my dream car for not that much more, or a car that will suit my needs and be potentially much cheaper than if I settled down for a TCO of $35,000.
Since you are in southern California I would recommend checking MyCarAuction and see what they will offer for your Honda. This company pays off the buyout price in your name so the finance company can’t refuse it. Once the payment clears and the title is received, you sign it over to them.
So using your example, if MyCarAuction also offered $33,000 for your car, and your current payoff price to purchase the car is $20,000, you would get a check from MyCarAuction for the positive equity minus 10% that they hold onto until the title comes in. So at the inspection you would get a check for around $11,500 and they hold onto $1500 that they give you when the title is signed over. They also have you hold onto the car until the finance company confirms the buyout has been paid in full. Overall a painless process and much easier than you trying to purchase your car, paying taxes up front, waiting for the title, selling the car, then trying to get reimbursed for your taxes.
Good luck!
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