Hey folks, I have 1 year left on my lease. I have heard some banks will contact you 12 months out to offer you a deal to buy out the car. Has anyone had Honda Finance do this? Just curious. I plan to to buy the car no matter what, but I was curious to see if anyone had been offered an early buyout by Honda Finance.
Thanks
Ray

 

usually they only do that when they really screwed up guessing the depreciation (which is the big component of your payment).

they would rather give you a deal than take back a car that has a residual value that far exceeds the market value. I don't think the S fits into this category; I've never heard of this on a S2000. Usually it is with cars that have taken enormous depreciation that was not expected.

 

i have a similar problem by having to try to get out of the lease, n e one know the best way to go about this? I have 2 years left and want to know if it's too late to back out???

 

i bought out a lease from American Honda Finance on my previous car ('02 RSX-S) -- it was really simple - i just went to my credit union and got a loan for the payoff amount - then paid off the balance of the loan.

my credit union did all the paperwork and arranged the payoff, title transfer, etc - it was a piece of cake...maybe you can do the same thing.

good luck

 

Thanks guys. I can pay the car of right now, but I think I get penalized for a month's payment or something.