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Prices Paid: Buying & Leasing Experiences Honda Odyssey Prices Paid and Buying Experience
24381 messages, Last post on Dec 05, 2009 at 9:37 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: mplshondadlr (Feb 11, 2009 10:42 am) #2298 of 3062 Re: Honda Accord buyout - can I offer less if I offer cash? [hondakate] by dwynne Mar 28, 2008 (3:27 pm) Save | Reply Replying to: hondakate (Mar 28, 2008 11:59 am) Sadly almost no lease bank will negotiate lease buyout prices any more. The reason? They almost always take "Residual insurance" on the cars they lease - much like GAP coverage protects you if your car is totalled or stolen the residual insurance "guarantees" they will get their residual back on the car at lease end. The caveat is that the lease car has be turned in and sold at open auction. So if they offered it to you for $1,000 under buy out they would lose $1,000. Easier for them to just get you to turn it in and let it go to auction, then no matter what it brings they get full value. Some captive lease banks don't use this insurance, but they also don't negotiate buy out prices. They may offer the cars to the turn in dealer for the buy out price or maybe a discount, but often they have private (their dealers only) auctions of the lease turn ins to give their loyal dealers first crack at the lease turn ins. In any case, I would doubt you have any way to get a better price than buyout. For sure when they find out the condition and miles. The only way it might happen is for you to wait until they ask if you want to buy it (if they ever do). If you act interested at all or contact the lease bank, there is about no chance of a discount. There may be none anyway, but it would be better to wait for them. If it is an AHFC lease you can actually mail the payoff to them directly using a mileage statement on their web page. They send you the title and you go down and pay the sales tax and get it in your name later. Any Honda dealer (like the one that leased you the car) and do this for you, but they may or may not charge a fee for it. I have been told if the Honda dealer does it for you AHFC will knock $500 off the buy out price, so most will do this for no extra fee (and pocket the $500). Maybe you could find an honest / nice one that would let you buy it out for $500 under and no fee, but I would doubt it. In most cases the trade value is less than the buyout so folks are justified in saying to the bank "If you drop the price I will buy the car". In your case, there is no justification for them to drop the price (even if they would think about it) since as you say, trade in value exceeds your buy out price. Dennis
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Replying to: bigdadi118 (Feb 11, 2009 6:20 pm) Well, I have been told if I dont forward this text message to ten people I'll never find my true love and have ten years of bad luck. Just because it's posted on some fourm, does not make it a true statement. 
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Replying to: s_horn (Feb 11, 2009 3:35 pm) I purchased it through NW Honda and was very happy with the assistance. Not high pressure but helpful. If you want details on who i used let me know. |
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Replying to: sudha (Feb 11, 2009 1:50 pm) I bought 2009 Honda Odyssey EXL with DVD and NAVI on Jan 4 from Larryhopkins Honda in Sunnyvale for 32,050, let me know if you need additional details. good luck |
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Replying to: mplshondadlr (Feb 11, 2009 10:42 am)
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Replying to: kalyank (Feb 12, 2009 9:45 am) I presume that Larry Hopkins 32050 was not out of the door price. Please confirm. I am offered a 32600 by an other bay area dealer for EX-L with DVD, but 0% APR this weekend only. Not sure how long the duration of the APR is.
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Replying to: acurabuyer1 (Feb 12, 2009 10:24 am) 
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Replying to: mplshondadlr (Feb 12, 2009 10:34 am)
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Replying to: acurabuyer1 (Feb 12, 2009 10:41 am)
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Replying to: mplshondadlr (Feb 12, 2009 10:58 am)
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