My lease is coming up in about 5 months but because I’m moving in the near future, I’ve been itching to trade it in sooner rather than later (planning to go from a compact car to an SUV with some towing capacity to assist in the move)
The original dealership that I bought it from has offered me an early trade-in if I buy/lease a new car from them, but I’m likely going to be switching brands with the new car since nothing in the current Honda line-up is really appealing to me.
Are there other options that dealerships for different brands work with for getting out of a lease early that won’t leave me on the hook for the remaining 4-5 payments?
I did check buying out the lease and then selling it to a private seller, but the lease buyout is just about equivalent to the estimates I’ve gotten for selling it, so with taxes it may end up being a wash versus paying the last few payments.
For sure, the move isn’t the only reason why we want a bigger car, just the reason why I don’t want to wait 5 months if I could get out of my lease now without having to eat the last 5 payments.
This is the downside to leasing - you are generally stuck for the remainder of your term unless you qualify for a “pull ahead” program where the dealer/manufacturer eat your lease in order to get you into a new vehicle. And swapalease is probably out for 5 months.
Compare the cost of the Uhaul vs. the 5 payments. Also your payments on the SUV will be larger so you’ll save a bit there, at least in the short term.
Share details of ur current lease. Model, year, payments left and what the monthly payment is.
You need to call HFS and get a buyout price and a dealer buy out price which will be lesser than your buyout (no taxes and possibly lower buyout for a Honda or Acura dealer to buy out your car)
Once you have those amounts, then u get offers from carmax, carvana, autonation, driveway to see who gives u the best price. Driveway or Autonation may buy you out as they can facilitate through their Honda / Acura dealership .
What brand new car n model have you decided to go for ? Are you able to work out that new lease yourself ? If not, use a reliable broker over here for your state (many reputables one on here) For a decent broker fees, they can help you get ur Honda bought out at the right price (possibly even at breakeven or +ive back to you) and get you into your new lease.
Yes you can do all this yourself by working on it which many of us will encourage you to do but if you lack the time and patience then let someone knowledgeable handle it all for you for a nominal fees.
