- #1809 of 1835
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Re: lease swap-buyout question [jayrider]
by tac99us
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Nov 10, 2009 (7:43 am)
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Replying to: jayrider (Nov 10, 2009 7:16 am)
if a shop purchased it and then sold to me - sounds like there would be sales tax twice, that would of course be passed on to me.
am i able to just assume his lease? i was told honda did not do this.
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- #1810 of 1835
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Re: lease swap-buyout question [tac99us]
by jayrider
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Nov 10, 2009 (8:07 am)
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Replying to: tac99us (Nov 10, 2009 7:43 am)
There are time limits in lease assumptions. Last 6 months of a lease or so -- no transfer. If he buys --sales tax. If you buy from him sales tax again. If you get a dealer to buy and resell to you only you pay sales tax. Dealer may charge 300 for the service. Honda dealers are not the only ones who can buy the van. Call a reliable used car dealer and pose the question.
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- #1811 of 1835
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Re: lease swap-buyout question [jayrider]
by yortiz
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Nov 10, 2009 (8:38 am)
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Replying to: jayrider (Nov 10, 2009 8:07 am)
Try going through a credit union. I sold my honda to a relative for just the payoff amount two years ago and it was very easy. The credit union sent the payoff to AHFC and I signed an odometer statement. I believe I called AHFC and they told me it was ok to sell to a third party. Good luck!
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- #1812 of 1835
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Re: lease swap-buyout question [yortiz]
by tac99us
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Nov 10, 2009 (8:46 am)
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Replying to: yortiz (Nov 10, 2009 8:38 am)
sorry - i'm new to this. is AHFC honda finance company?
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- #1813 of 1835
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Re: lease swap-buyout question [tac99us]
by yortiz
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Nov 10, 2009 (8:53 am)
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Replying to: tac99us (Nov 10, 2009 8:46 am)
yes, AHFC is American Honda Finance Co.
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- #1814 of 1835
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Re: lease swap-buyout question [yortiz]
by tac99us
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Nov 10, 2009 (9:35 am)
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Replying to: yortiz (Nov 10, 2009 8:53 am)
yortiz - did you have him pay the money for the payout and then sign it over to your relative as a gift?
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- #1815 of 1835
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Re: 2010 EX & EX w/ RES [tga01]
by Car_man HOST
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Nov 11, 2009 (3:12 am)
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Replying to: tga01 (Nov 04, 2009 4:34 am)
Here you go, tga01. Honda Finance's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Odyssey EX-L with RES, NAV, and 15,000 miles per year are .00139 and 49%, respectively for consumers who qualify for its top aka "Super Preferred" credit tier.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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- #1816 of 1835
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Re: Odyssey lease rates [barrybuckeye]
by Car_man HOST
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Nov 11, 2009 (3:17 am)
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Replying to: barrybuckeye (Nov 04, 2009 6:45 pm)
Hi barrybuckeye. Honda Finance's current 36 month, 15,000 mile per year residual value for the '10 Odyssey EX-L with RES but without NAV is actually 50% and its money factor is .00139.
As far as this van's selling price goes, this dealer isn't really selling you it at invoice, since they are baking in a $399 doc fee which is essentially pure profit. Having said that, even $399 over invoice is an excellent deal.
I see that you have $2,500 in equity from your trade that you are considering using as a capitalized cost reduction on your lease. You would be much better off if you had the dealer cut you a check for that $2,500 rather than applying it towards your new lease. I always advise consumers to put as little money down as possible when leasing. Those who make large down payments on leased vehicles risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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- #1817 of 1835
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Re: Mass - EX Lease [airoops]
by Car_man HOST
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Nov 11, 2009 (3:23 am)
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Replying to: airoops (Nov 07, 2009 6:03 pm)
Hi airoops. Thanks for taking the time to share the details of your lease with everyone. I'm glad to hear that you had a pleasant dealer experience. If you haven't already, you can tell even more people about it by stopping by the Dealer Ratings & Reviews section of Edmunds.com.
Thanks again and enjoy your new ride  !
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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- #1818 of 1835
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Re: Are California Residuals different [socal_bbfan]
by Car_man HOST
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Nov 11, 2009 (3:29 am)
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Replying to: socal_bbfan (Nov 08, 2009 9:57 am)
Hello socal_bbfan. It's strange that the dealer would quote you a different residual value on this car given the fact that dealers do not have the aithority to alter Honda Finance's published residual values. Honda Finance's current 36 month, 12,000 mile per year resid for a 2010 Odyssey EX-L with the RES is 52%. With RES and NAV it drops slightly to 51%. Make sure that the dealer uses these resids to calculate your payment, or find a different dealer that won't play games with you...there's plenty of them in Cali.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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