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Turning in a civic on lease...what can I do?


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I am new to this lease stuff.

We have a leased 2010 Civic LX (12k a year mileage) with approx 14000 miles total on it. We never drive it. I looked into the buy out price and checked around with friends who had the patience to try to sell their cars and buy out with some profit. I even took it to one of those special "sense" itive dealerships and they gave me a buy eval of less than the buy out, he said there are simply so many Civics around cheaper at auction.

It is due to be returned sometime early in 2013. I realize we can turn it into Honda and get another honda but do we have any sort of "bargaining" power towards a better deal this time since the car has less wear and tear on it? How about if we wanted to go with another company's car? Would it make sense to try another dealer? Is it possible to get a used car from another company at a Honda dealership and they write the financing to buy it? Any help would be great.

Anybody have an experience with this?

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I avoid leased cars and financed cars like the plague (and thus never have to deal with these problems), but my soap-box rant aside: Almost any dealer will stock various used cars. The used cars are separate from the new car dealer and they always have several banks with financing agreements lined up. The specific terms of the loans are not as good as brand new cars (which is being subsidized [or outright handled in a case like gm] by the manufacturer).

 

I really doubt you will have much bargaining power as the leasing agent has you over a barrel: it doesn't matter what condition the car is in you still have to turn it in. Being the car is in prime condition it might be a nice candidate for a buyout. Your buyout price may be much less then a similar used car purchase price would be. Before you get to your lease end date make contact with your dealer and go over all the details in advance. During a buyout there is often substantial hidden processing fees due to the loss of the potential resale profits the dealer and manufacturer are known to pile up the misc charges where they can.

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