Opinions on Lease Trade In?
 

Hey guys,

Just want to keep it short and simple

- 20k down on my Lease
- 3 year lease @ 0.01 rate ( promo )
- lease started nov 2016 - ending nov 2019
- residuals at the end - 28,500

I am looking for a different car, but am wondering your input on a Lease Trade since my down payment was very high ( because I wanted to buy the car afterward originally, but got bored lol ) WutFace

It will be easier to know (for everyone to get a better idea):

- Whats your monthly payment
- What are you driving now and at what kms
- What car are you looking at right now
- What are your needs now, what changed

- monthly payment - 250
- 2017 acura tlx
- lexus rx350
- handling / cargo space

The easiest way would be to buy the TLX out and then trade it in for the RX.

You technically don't own the car when doing a lease, hence it would be difficult to "trade" it in.

^ well if lexus offers a price on the tlx that is more than the current buyout value, it could be done.

Highly possible with 20k down on the tlx

Can I get more insight on this

:heckno:

^basically you are trading in "your" TLX.

First thing is call acura financial and check what is the current buyout price. Usually valid for a week or two. You then walk in to lexus and see what they can offer you for your tlx as trade in.

If lexus offers you 40k for your tlx and your current buy out is 38k, Lexus will give you 2k for your RX buy.

vice versa... its all numbers

im guessing they will haggle the shit out of you since you are leasing your TLX at the moment.

Downside of leasing and trading in / selling leased vehicles

Which dealership did you purchase the TLX from? If you bought your TLX from an auto group, you can try and call the head office and see if they are willing to buy your car back and get you into a RX.

Not going to lie though, you probably lost a good chunk of that 20k down payment already.

Some input:

Your current lease buyout can be had by calling Acura Financial Services or by looking it up on the website. Do NOT call your dealer, as they will attempt to get you in and sell you a car and/or inflate your actual buyout.

A lease is not a "trade". The dealer you will be purchasing your new car from will effectively "buy in" your lease into their inventory. This however, typically means that the originating dealer (for your TLX) will get first right of refusal as they are the ones who can ground the vehicle into their inventory. The new dealer (Lexus in this case?) will need to speak with your Acura dealer and see if they are willing to let them have the car. If it is desirable with good/low kms and in good shape, Acura probably wants the car back to sell on their own lot. This then forces you to either buy the TLX out yourself, or be paid some sort of positive equity to be injected into your new purchase (for which there will be NO trade and NO tax savings). If you purchase the TLX yourself to trade in, you will pay taxes on your buyout amount, and then recoup said taxes in tax savings by trading it in on the new vehicle. The differential between your buyout and what you receive on trade will be your positive equity.

Best to give us more exact details and we can help further. You are also welcome to send me a PM and I can provide more info for you.