problem about returning a leasing car

[chriskris_1221]

hi everyone, i am currently leasing a honda civic 2006, i have leased it for like 1.5 year already which there is still 1.5 left for the whole lease. However, i got some scratches on my car. Does anyone know if i have to fix it by myself before i return the car or they will just ignore it when i return my car??Any advice brothers??

PS: they gave me 96000KM as the limit that i cant exceed, but i only drove 24000KM till now so i am assuming i wont even each 60000km by the time when i return my car to the dealership.

thanks

[Jeff-TheBiz]

CLICKY

CLICKY..

[bizzmanager]

Chris,
Your lease is based on you driving 96k for your term. I think you should check your term or millage. 96 for 3yrs sound high, thats 32K per year???. I think you may be into a 4 year term.
In any case, If your k's are real low, you should sell the car privately for more than your buyout. You will need to bring the buyer to the dealership to avoid being taxed yourself.
This could put a few thousand back into your pocket.
Thanks,
Felix.

[Shojin]

You will need to bring the buyer to the dealership to avoid being taxed yourself.
This could put a few thousand back into your pocket.
Felix.

Interesting idea, assigning a lease sale. But can that really work? Won't it require the sale to be timed exactly to coincide with the lease expiration? Have you done this before? Is it even allowed by most lease agreements?

[vickyvictoria]

Chris,
Your lease is based on you driving 96k for your term. I think you should check your term or millage. 96 for 3yrs sound high, thats 32K per year???. I think you may be into a 4 year term.
In any case, If your k's are real low, you should sell the car privately for more than your buyout. You will need to bring the buyer to the dealership to avoid being taxed yourself.This could put a few thousand back into your pocket.
Thanks,
Felix.

if it's leased, doesn't he have to buy out the lease before selling it privately b/c you don't own the car.. or find someone to takeover the lease and walk away?

[bizzmanager]

Interesting idea, assigning a lease sale. But can that really work? Won't it require the sale to be timed exactly to coincide with the lease expiration? Have you done this before? Is it even allowed by most lease agreements?

I've done this twice personally and have handled as a business manager at lease 2 dozen.
Its simple, because you don't own the car, you may at any time in your lease bring a buyer into the dealer to buy out.
You must satisfy the current payout.
You must agree to pay the dealer some admin.
Dealer must write you a cheque back for your profit.
You only provide safety and etest.

[bizzmanager]

if it's leased, doesn't he have to buy out the lease before selling it privately b/c you don't own the car.. or find someone to takeover the lease and walk away?

Nowhere does the lease state who must buy out the vehicle.
All that HCFI cares about is their money. That includes the dealer too. They can charge as much as $599 for this service.
As with anything else, shop this around and don't be shy.