2009 Acura TSX lease?
i currently lease a 2005 TSX..i got a brochure in the mail showing off the 09 TSX and im in awe...my lease is up in Sept 09, but im estimating ill be over my lease by roughly 40,000 miles (long commute)..since i dont want to pay $2,800 or so in mileage to trade in my TSX, are there any other options I have to get my hands on the new TSX, possibly before my lease is up? any help is appreciated.
Comments
The dealer will allow you to trade in and swap for the new 09' but you will be UPSIDE DOWN on the TSX Meaning that they will probably charge you the overage of the mileage and include it to the price of the new car.
EXAMPLE: if the TSX cost 30,000
and your mileage overage cost you 2,800
Then you will finance 32,800.
This is not a good idea because you will probably be over next time and this cycle will never end.
Just buy out your current lease or turn it in and BUY your next car. Buy used and you will never have to pay sticker price or worry about miles again.
I own all 3 of my vehicles and no they are not Buckets. Just not spanking new. But they are all mine.
You can buy out your lease and either trade in the car or sell it on your own, that's the only way to avoid mileage penalties. And if you're over by 40k miles then you'll owe at least 4k for mileage penalty. And it might be more. (that's at a $0.10 per mile) Look at you contract to see what your mileage penalty is. And your financing company is American Honda Financial Corp. Not Acura Finance like one of the other posters said.
But before you buy out your lease go and get the car appraised at an Acura dealer and see if the 4k in mileage penalty would be less of a hit than what the buy out is. (but do it when you're going to be getting a new car because trades change all the time)
You can trade in your 2005 for the 2009 but make sure under in mileage, and whatever you owe left on the 2005 is less then what the trade in value is that way you can work get a good deal on the 2009. Go to kellybluebook.com and check out the trade in value of your 2005 tsx.
Your best bet is to go to the dealer that you bought the car from. They may be able to eat some of that cost but I doubt all of it. Also if you want to get an 09 TSX there will be much less room for them to work since that is a brand new car and in demand. Your best bet is a 08 TL since they are coming out with a new model soon. With the new model there are great deals on them and that will also help offset the high millage.
You can trade in your leased vehicle at any time and the dealer will treat it as if you owned the vehicle.
The bank sees a lease as a simple agreement for you to buy the vehicle for a certain amount of time, and they agree to buy it back when you're done with it.
You can even call your bank (Acura Financial) and get a payoff quote to find out how much you owe on the vehicle and compare that to the trade in value of the vehicle.
If you are over your allowed mileage you do not have to pay mileage penalties if you trade in your leased vehicle before the lease is over.
Wow thats a lot of miles to be over, I have the same problem with my BMW, but I was only over 13,000 miles. BMW didnt want to help me out even if I bought another BMW, but check with Acura. They might charge you for less miles if you get another Acura. Call around a couple dealers and see what they can do for you, tell them your situation and that you want to lease another Acura and see if th ey can do anything for you.
go to an acura dealer and find out what they will do for you. If you like what they have to offer-go for it. One of the main reasons I do not lease is I drive 30,000+miles a year.
never lease a car ever again! talk to your dealer and make sure he isn't bullsh!tt!n you. if the dealer makes promises that are not on the contract, whatever you do, do not listen to those.
hmm