Private Sale Honda Lease?

Greetings all, we currently have a 2021 Honda Pilot Touring 8 Passenger which we leased from Honda Financial in July of 2021. It looks like Honda allows you to purchase the vehicle at any time by paying the remaining balance of the lease plus the residual. In our case, it works out to be about the market value of the vehicle for private sale. We have about 10 months left on the lease and would like to figure out a way to private sale it. We would prefer to do that without having to take out another auto loan first.

Is this possible? If so, what is the most optimal way to go about this? Thanks in advance.

You’d have to pay cash

Plus most likely sales tax. You should probably see what offers the Honda dealer would give you for it.


Is there a specific reason you are looking to private sale or vs selling to a dealer who can buy Hondas?

Thank you for the responses. Wouldn’t the dealer offer significantly less than a private sale could bring? I did hear Honda dealers are low on inventory though. I will check with the dealer to see…certainly can’t hurt.

It depends, but if that ‘significant less’ is less than Sales TAX, you might wanna consider it.

Yes it could be lower than private party, but you would have $1-3k+in sales tax to have to deal with, as dealers don’t pay sales tax. It’s not worth the headache of a private sale unless you are talking like $10k difference. Any autonation or Honda dealer or Honda affiliated dealer can buy your car outright with no fees or anything.

First thing you have to do is ask

I’m in Maryland and unfortunately we pay sales tax on the full price of vehicle at least inception. The good news there is that it’s already been paid.

Vroom offered 31k which is tempting. You’re right about private sale being a headache. This might be the way to go and would allow me to walk away and not have to either lay out a large chunk of cash or finance just to sell privately. Then of course I’d have to wait to get the title which could take months.

This can only be avoided by selling to someone who can process the payoff directly to American Honda Motor Finance Co.

Any Honda or Acura dealer.
Chains such as Autonation or Penske aka Carshop that own one of the above
Various LH brokers


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