Quote:
Originally Posted by Redbuddrr
Jenkins Honda Leesburg
I decided I wanted to buy my leased 2018 Civic, which has a residual of $12,400 which is what was on my contract. Jenkins wanted $13,700. for me to buy it. That included sales tax, other taxes, and $999. handling fee, which was ridiculous. So I thought maybe I should trade for a new 2022. Sticker was $26K they added a $5000. market adjustment and another $5000 worth of accessories which took the sticker to about $37K, for a $26k window sticker Civic!!
I called Honda credit to buy out the lease, and they told me that the price I would pay them was $12,400., sales tax was already included in the number. I asked that's all? Yes that's what we need a check for.
Not only price gouging, but illegal to charge me for sales tax twice.
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Consumer Reports is advising those whose lease is up, to seriously think about going ahead and paying the residual and purchasing it. In normal times, this was usually the more expensive route, but with the craziness that is going on now, it makes a lot of sense. Particularly since if you're buying out the lease of a vehicle you personally leased from new, there isn't the age old concern of used vehicles - which is how the previous owner had treated it before you.