Just sold my 2020 pilot exl back to Honda with 17000 miles with 18 months left on my lease. Payoff was 29509 and they offered me 34k. Walking away with a 4490$ check over payoff. I originally leased the vehicle in January of 2020 for 34,367 for a 36/12k and I was paying 417 a month. I’m beyond happy with my deal. On to the next one!!!
Did you lease a new car from the same dealer not was this a single transaction? Congrats.
Nope. I drove in told them to make me an offer and they drew up papers and I left. Will take 2-3 weeks to get my check tho.
That’s how they get you.
With 18 months left you made out extremely well, and the fact you didn’t lease anything else was even better. How many dealerships did you go to before that deal and when you say payoff, who’s payoff, your payoff on the monthly bill you receive that includes sales tax?
On to the next one? What new leases are you looking at?
We have 3 Honda dealers and 1 Acura dealer in town. I went to a Honda dealer and got a 31500 offer and then left there and went to Acura and got offered 33000. I was ready to just settle for the Acura offer and never heard back from the sales asscocate there, so I went back where I got the pilot, but they are the lowest priced on new Honda’s so I never thought theyd give a good offer but I pulled in and told them to just give me a solid fair offer and he came back with 34k. With zero hesitation I told him to draw the paper work. Pigs get fat hogs get slaughtered.
4 Likes
I have about double the honda and acura dealers in my area, so I have a little bit more to go on for now but for that offer you received I would have jumped on it as well. Looks like you didn’t really need another car since you are waiting now for that equity from Honda before you jump into something new eventually.
Ok im confused, if you leased it, how did you sell it back to them? It already belonged to them?
He leased it from Honda Financial, he sold it to a Honda Dealer…you can do that…for now.
They are 2 different companies.
6 Likes
What area of the country was this?
I have a 3 series i leased from Bmwfs due September, tell me how I can sell it to the bmw dealer PLEASE!!
Go inside a dealer, and ask for an offer ?
6 Likes
Just consider you have the right to sell it elsewhere. You can take it to carmax or any dealer to see if they will take it. Find out your payoff amount and basically you are just selling it. In most of times BMW leases are cheap because they made residual value bit higher so you might lose your money by selling it now.
If your car has 10000 pay off and if they take it for 8000, you have to pay the financial service 2k separate
1 Like
You do not have the right to sell it elsewhere until you buy it first. The bank may allow you to, but that’s quickly being restricted by pretty much everyone, including bmw.
1 Like
South Louisiana
Considering doing this with my pilot
But then I’d have to over pay my next lease cause I still need a car lol
That is correct - I have had BMWs for over 20 years and BMW typically has very high inflated RV which makes leasing attractive but the amount at the end is typically upside down.
Now Honda on the other hand is opposite - they price their residual lower than the market pricing due to the higher resale value.
Case in point: my 2018 Honda Clarity PHEV is so much in demand, my original dealer contacted me without even taking a look at offered $20,000 for me to turn it into them so that they can resell it. My residual is $14,000 in a couple of month when the lease ends ($6,000 cash in hand).
Tempted but I need a car so that savings in hand is gone if I get another car in this crazy market!
Hey buddy, I am confused, So you leased a car at around 34,000 $ MRP, and after 1.5 years and 17,000 miles. It was sold back to dealer at 34,000, around the same price you bought it, did I correctly understood the deal.
Did it not depreciate after 1.5 year and after 17,000 miles.
The used car market right now doesn’t remotely resemble reality.
1 Like
Some used cars are selling higher than new cars, it’s just the way the market has turned.
Equity is sky high for nearly 100% of leased cars now however leasing a new ride will cost you as well.
As for the lease they were in. They still paid t o lease the car but with that 4500 in equity it cost them approximately
417 x 18 = 7500
7500- 4500 = 3000
3000/18 = $167 bucks to drive a honda pilot EX L!!!
Now go out now and lease that same ride and see how much more per month it’s going to cost now. Most cars are leasing at msrp and higher.
1 Like