[Two Bills]

Originally Posted by Luggage

Go to cars.com and carguru.com. see what used cars of your mileage and your are selling for. Car dealers will generally pay 3-4,000 less than the retail currently. You should also of course go to Honda financial and ask them what it would cost to get out of your current lease right now. You might be surprised that they won't require possibly any more payments and you may get a lease by out different than what stated on your contract. So get all the details now and you also might get a good offer from someone locally to buy out your car

I agree with this post!
I would def. try to sell privately when contract paid up.
Why share profit with a dealer?

[Gunny2403]

I had a similar experience with Carvana in Pittsburgh. They exceeded all other offers by over $3000. Check on the spot. Picked up car two hours later.

[Dabatts]

I just did a buyout with a 2018 Honda CRV in September.
Call Honda financial for a lease buyout price. Phone number on statement. Have statement available when making the call. It's an easy transaction. Based on the original structure of the lease, your buyout will be less than the resale value. Based on the numbers you can decide what to do.
Any Honda dealership will do this for you but they will charge you $1000+/- as a lease cancellation fee and they will take the car and resale it. You walk away with nothing. You lose they win.
My vehicle was worth $8000 more than the buyout. I resold and kept the additional cash.
The process is slow but easy, mostly wait time.
Do not us Jenkins for this process, slow, rude and arrogant.

[Dabatts]

Originally Posted by cb1972

You may not have to go through the dealer. Most of the time you can purchase the car from the finance company , or whatever institution you are sending your monthly payment . You will have to pay the remainder of your payments plus the residual cost of the vehicle listed on your contract including sales tax on thet amount. You may want to research what similar vehicles are selling for since as you mentioned quality preowned vehicles are selling at a premium. You could market the car to several dealers to see what they are willing to pay. good luck

I just did this with Honda, easy way to make $8K.
Stay away from Jenkins.

[jimbo2012]

When you get a quote online, a truck just comes to your door with a check, what if it's not as described or has something wrong on it.

I wondered what happens if not as stated or disputed as to condition

Does the pickup driver evaluate the car

[Jolson]

Originally Posted by jrref

I have a leased 2019 Honda CRV with very low milage. The lease is finished this coming April and we want to terminate it early since we want to downsize to one car. With all the new and used car shortages what's the best way to approach the dealer? Does it make sense to get someone privately to buy out the lease and purchase the car? With all the negative talk about Jenkins lately are there any other Honda dealerships close to the Villages to work with?

Honda does not allow for them to payoff a third party so going thru CarMax or the like you would have to pay off the car first, get the title and then sell it to carmax. We turned our leased Honda in at the dealer in Ocala. There was still 18 month left on the lease. The man to talk to is Larry Lopez. They go by the blue book value. My husband went to the Honda website and did the how much is my car worth form. Within minutes he had an offer for $4000 above the payoff. We took the car in, they checked it to make sure it was as stated and we handed them the car and keys. It couldn’t have been easier. Good luck.

[crash]

Originally Posted by Garywt

I think you need to go to a Honda dealer and ask what it will cost for you to get out of the lease. Pay it and leave the car with them.

It shouldn’t cost anything because now you can sell it for more than the agreeded upon price in the lease.

[irishwonone]

Your right! Also, if you want to buy the lease vehicle ALWAYS negotiate and determine the purchase price upfront when you have leverage. You are always in a poor position when you negotiate to purchase vehicles after your lease is completed. Especially in today’s market!

[retiredguy123]

In my opinion, leasing a car is a misnomer. You're actually buying the car, but paying more than it's worth. Do the math before leasing.

[donfey]

Originally Posted by sbussey350

You should wait closer to April to do anything. Use the car until March/April because you are going to pay the monthly lease amount until April (one way or another). Then look and see what your options are.

My wife's Pacifica lease is up in Feb 2022 and Carvana offered me $10,000 more than the residual value (amount you pay at the end of the lease to buy the car).

Why wait? If the china chips start hitting the US, new cars will become more available, and prices on newer used cars will drop.

[Petersweeney]

Exactly

[spd2918]

I'd negotiate over the phone with dealers and those other services (carmax, vroom, etc). Driving there makes you a captive audience. Calling also lets them know you are shopping it around.

You would make the most money selling it privately, but that comes with hassle.

I agree you should not wait. Strike while the buying frenzy is still on.

[noslices1]

Originally Posted by jrref

I have a leased 2019 Honda CRV with very low milage. The lease is finished this coming April and we want to terminate it early since we want to downsize to one car. With all the new and used car shortages what's the best way to approach the dealer? Does it make sense to get someone privately to buy out the lease and purchase the car? With all the negative talk about Jenkins lately are there any other Honda dealerships close to the Villages to work with?

Talk to Carmax to do a purchase. They were willing to give me $2K less than I originally paid for my 2018 Toyota in June of this year.

[jog222]

Originally Posted by petsetc

I recently (30 days ago) sold my 2014 Cadillac to Carvana who offered and paid $3,805 more than Carmax. The entire transaction, from my when I first queried for an offer until I had a check in hand was less than 48 hours. The entire transaction was exactly as they advertise. It was the easiest, cleanest car transaction ever!!!

I agree! Carvana is a great service for selling and buying used vehicles. The online process is wonderful.

[BillDyer]

Originally Posted by jrref

I have a leased 2019 Honda CRV with very low milage. The lease is finished this coming April and we want to terminate it early since we want to downsize to one car. With all the new and used car shortages what's the best way to approach the dealer? Does it make sense to get someone privately to buy out the lease and purchase the car? With all the negative talk about Jenkins lately are there any other Honda dealerships close to the Villages to work with?

don't go to Jenkins, rip off artist. Take you car and lease papers to CAR MAX. I just turned my 2019 Hyundai over tothem with 6 month left on the lease and they took the car, paid off my balance and gave me a check for over $7,000, with NO HASSEL. That was almost as much as I paid for the car. Jenkins wanted nothing to do with the leased car