These types of deals almost always end poorly for the buyer lol.binarynumber wrote: ↑ I know, right!? I would rather buy it out & sell it myself & get the profit. They really tried their best today but I was having none of it lol
Lease ending in few months, dealership offered to show me the new Civic & talk about my current car. Need some advice.
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- Alpine84
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- bobbings
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The moment he said banks don’t care about car payments, I would’ve walked out lol that’s a pretty s#itty tactic to use on a customer. Imagine you bought a car and then later you won’t qualify for the full amount of a mortgage because of your car payments.binarynumber wrote: ↑ Current lease: 2019 Honda Civic, EX. Has about ~34500 km. The lease ends in a few months. I am currently paying $157 bi-weekly @ 0.99 with about ~$12k residual.
The dealership gave a couple of proposals:
Proposal # 1
Proposal # 2
The surprising thing was the adjustment of $8,900 on the second proposal when I told them I am not signing anything today since I am leaning towards buying back the car. I told them a new car is not exactly on my mind as I am planning for a house in the next few years & want to be debt free, they told me banks won't care about car leases, lol. I know it was just them trying to convince me to sign.
Does any of the deals look good? Even if I want to change my current car, I would probably get something other than a Honda.
TEAM CANADA!!!!!!!!!!!
- binarynumber [OP]
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- binarynumber [OP]
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- MOBB416
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Option 2 is really not bad if they agree to move all the useless addons off the contract and keep the 8500$ discount.
New the gen civic is miles ahead the 10th gen. It’s a similar driving experience to an accord and feels way more premium all around.
New the gen civic is miles ahead the 10th gen. It’s a similar driving experience to an accord and feels way more premium all around.
- sanman9
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- cloakster
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You should email some other (non-Honda) dealers and see what they will give you for the trade in. You should be able to get a rough quote without going into full details about it being leased.
Use that info to decide if you should buy out the car and then trade it in. With relatively low KMs, you should be able to profit off the trade in. And then you don't have to deal with this scummy dealer either, you could then go to any other Honda dealer that is willing to sell at MSRP.
Use that info to decide if you should buy out the car and then trade it in. With relatively low KMs, you should be able to profit off the trade in. And then you don't have to deal with this scummy dealer either, you could then go to any other Honda dealer that is willing to sell at MSRP.
- cheapshopper
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I hate dealer keep padding on those scam add on item.
When i shop for my new car back in 2019, the dealer added like $6k of garbage. I told them i dont want any of those add on. The sales told me, cant do, all vehicles we sold MUST buy those, thats the company policy.
I walked right out.
When i shop for my new car back in 2019, the dealer added like $6k of garbage. I told them i dont want any of those add on. The sales told me, cant do, all vehicles we sold MUST buy those, thats the company policy.
I walked right out.
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Bright side of RFD: Often find good deal
Dark side of RFD: Tons of stuff that I don't need but still got them because of RFD
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Bright side of RFD: Often find good deal
Dark side of RFD: Tons of stuff that I don't need but still got them because of RFD
******************************************************
- aleks
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- sanman9
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No I meant that no dealer would not give $8500 discount on top of taking off those extra addons…
- Alpine84
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Leasing or financing a car will also impact how much you can borrow from the bank when you shop for a mortgage. A few of my friends have had to buy out their car first to maximize their mortgage.binarynumber wrote: ↑ Agree, I don't want to set myself back by 3-4 years if I am buying a house.
- binarynumber [OP]
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- binarynumber [OP]
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Hopefully, I can clear out the financing on buyback before the house purchase. Another thing I have been hearing is how people get banks to give them loans for cheap when they get a mortgage & they use that loan for either furniture or a new car. Not sure how much of that is true.
- binarynumber [OP]
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- Feb 10, 2018
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Based on suggestions from others, I decided to keep the car. As a matter of fact, I got a call back from the dealership today on what I have decided & told them I am keeping the car. I could definitely sense the disappointment in the sales guy's voice lolcloakster wrote: ↑ You should email some other (non-Honda) dealers and see what they will give you for the trade-in. You should be able to get a rough quote without going into full details about it being leased.
Use that info to decide if you should buy out the car and then trade it in. With relatively low KMs, you should be able to profit off the trade-in. And then you don't have to deal with this scummy dealer either, you could then go to any other Honda dealer that is willing to sell at MSRP.