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2013 Honda Accord Coupe V6 HFP Edition - Lease ending mid next year (2017). Buyback or Let go ?

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  • Dec 19th, 2016 9:51 pm
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2013 Honda Accord Coupe V6 HFP Edition - Lease ending mid next year (2017). Buyback or Let go ?

Hi Guys, just looking for suggestions. I leased a 2013 Honda Accord Coupe EX-L V6 HFP (Honda Factory Performance) edition on a 4 year term. As some of you may know, it's a limited edition (only 220 were made in NA). Comes with HFP badging and what not.

The car was well taken care of, only put on 49,000 clicks on it. Lease is terminating in June 2017 and buyback price is $17,996.

Summer tires that came with it are almost burnt out, one of the tires is damaged beyond repair. I'm trying to look for a used one but the spec of the tire is proving difficult to find. I may have to buy a new one to be able to return it when lease ends. I do have the Honda lease guard protection on it, but unfortunately it doesn't cover damaged tires.

Plan is to wait till 2-3 months before the lease ends, and look at the market value of exisitng such vehicles and then make a call whether to buy it back and keep it, or buy back and sell for some extra dough, or just let it go.

Any advice ?

Thanks!
Last edited by carmageddon on Dec 17th, 2016 6:42 pm, edited 3 times in total.
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Rare edition may mean higher demand for your gem.

Given yours is taken care of and low mileage, I say buy it out
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booblehead wrote: Rare edition may mean higher demand for your gem.

Given yours is taken care of and low mileage, I say buy it out
Thanks. TBH, I am leaning towards buying it back. I'll try to sell it, if not, I'll keep it.
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Quite confident you will be able to sell it for a profit if in fact it is in top notch condition as you described. I can see it going fast too as long as ure not asking too much.
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You have to remember that hfp is really just a body kit with a few extras as the info says:

"The package includes 19-inch HFP alloy wheels, a deck lid spoiler, HFP sport suspension, underbody spoilers, red interior illumination and HFP floor mats."

Not sure about the current market but I tried selling a 2013 Honda accord ex-l (4 cyl) last year oct with 25000 km on it. We barely got offers near 19-20k. So maybe do the market research a bit and see if it is in your best interest to buy it. To me it seems you're buying right at the market value. We bought a 2008 ex-l accord coupe in Jan 2013 for 16k all in so they do hold their values. Car had 70k when we bought it.
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masarwar wrote: You have to remember that hfp is really just a body kit with a few extras as the info says:

"The package includes 19-inch HFP alloy wheels, a deck lid spoiler, HFP sport suspension, underbody spoilers, red interior illumination and HFP floor mats."

Not sure about the current market but I tried selling a 2013 Honda accord ex-l (4 cyl) last year oct with 25000 km on it. We barely got offers near 19-20k. So maybe do the market research a bit and see if it is in your best interest to buy it. To me it seems you're buying right at the market value. We bought a 2008 ex-l accord coupe in Jan 2013 for 16k all in so they do hold their values. Car had 70k when we bought it.
Well you're right HFP is just that, nothing more. But given this car has a manual transmission, V6 engine, and factory installed HFP package, perhaps some enthusiast might be willing to pay slightly above the market value. At least that's the hope, might be hard to find someone. Otherwise, I'll just keep it as long as the buyback is not above market value. I will be monitoring the market value closely 2-3 months before the lease expires to determine this.

It's the only car I have. So if i return it, I will need to find something else. What better than a car I know and trust.
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carmageddon wrote: Well you're right HFP is just that, nothing more. But given this car has a manual transmission, V6 engine, and factory installed HFP package, perhaps some enthusiast might be willing to pay slightly above the market value. At least that's the hope, might be hard to find someone. Otherwise, I'll just keep it as long as the buyback is not above market value. I will be monitoring the market value closely 2-3 months before the lease expires to determine this.

It's the only car I have. So if i return it, I will need to find something else. What better than a car I know and trust.
To be honest you would probably won't find another hfp package again and I love 2013+ V6 Coupe design as well. My vote is to change the tires and keep it!

Also does your buyout includes taxes?
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masarwar wrote: To be honest you would probably won't find another hfp package again and I love 2013+ V6 Coupe design as well. My vote is to change the tires and keep it!

Also does your buyout includes taxes?
Thanks. I enjoy driving it very much - it's a beast.

I wish the buyback included taxes. Unfortunately, it doesn't. So I'm looking at 18k + 13% (Ontario) ~ 20.5K. I did some research already, and folks who leased this same car tend to have a higher buy back than me. I think for 20.5K, it may still be worth it. I'll know in a few months.
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You could also go and get it appraised now and see if you can get a good value now. They may wipe out the remaining lease payments if you take out another lease with them. Obviously it depends on a few factors like how much your car is worth, what car you're looking to buy/finance/lease etc.
TEAM CANADA!!!!!!!!!!!
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bobbings wrote: You could also go and get it appraised now and see if you can get a good value now. They may wipe out the remaining lease payments if you take out another lease with them. Obviously it depends on a few factors like how much your car is worth, what car you're looking to buy/finance/lease etc.
Honda did contact me countless times about a "VIP" upgrade event where I could return my vehicle early and get incentives on a new lease. I'm sure it's a marketing tactic.

TBH, I already feel like I made a mistake leasing such an expensive car. I was young and stupid at the time. I should've bought a cheaper used vehicle instead.

I think going forward I would probably never lease or buy a new vehicle. If I return this in, I would just get a cheap winter beater. Besides I got my M license this summer and a motorcycle. Cheaper and cost effective way to commute for 6-7 months out of the year.
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Is it a manual or autotragic?
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I don't think you'll get more than $1000 over the price of similar spec'd accords with the same km's, and year. HFP is all cosmetic mods, for the most part. Most people won't care if its an HFP accord or not, whether its limited edition or not. Its not like its a civic type R vs a civic Si. Its more like a corolla vs a corolla S.

I'm not trying to put your car down, as I do like the HFP honda's. I think both the HFP civics, and accords look nice. Although I'd never pay that much more for one.

How much were you expecting over a similar spec'd accord?

Imo, buy it back if you want to keep it, if not, end the lease.
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Let me ask you this question ... if you were to find a buyer for this vehicle, or if you were to return the car after the lease was over, what car would you buy? Sounds like you like the Accord, and why wouldn't you? It's a very nice car with a V6 engine, low mileage and a manual transmission. What car would you replace it with that would give you the same driving pleasure and yet not breaking the bank? Even if you have to pay 20K to buy this one ... what car can you buy for 20K that would be comparable with the Accord HFP?
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phuviano wrote: I don't think you'll get more than $1000 over the price of similar spec'd accords with the same km's, and year. HFP is all cosmetic mods, for the most part. Most people won't care if its an HFP accord or not, whether its limited edition or not. Its not like its a civic type R vs a civic Si. Its more like a corolla vs a corolla S.

I'm not trying to put your car down, as I do like the HFP honda's. I think both the HFP civics, and accords look nice. Although I'd never pay that much more for one.

How much were you expecting over a similar spec'd accord?

Imo, buy it back if you want to keep it, if not, end the lease.
I'm expecting atleast 2k more. HFP is not just a cosmetic package. It does include LED+HID headlamps, and a sports tuned suspension, which believe me makes a big difference around corners. I know it's not much and the engine is the same as the regular V6. Let's see. I'll put it up 2-3 months before lease ends to gauge the demand and then decide. I'm already expecting it to be hard to find someone willing to pay premium who appreciates HFP + MT + V6 like I did.
07Ex wrote: Let me ask you this question ... if you were to find a buyer for this vehicle, or if you were to return the car after the lease was over, what car would you buy? Sounds like you like the Accord, and why wouldn't you? It's a very nice car with a V6 engine, low mileage and a manual transmission. What car would you replace it with that would give you the same driving pleasure and yet not breaking the bank? Even if you have to pay 20K to buy this one ... what car can you buy for 20K that would be comparable with the Accord HFP?
If I return it, I will get something under 10K lol. Like a winter beater. I don't want to spend on cars anymore.
Last edited by carmageddon on Dec 18th, 2016 4:35 pm, edited 2 times in total.

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