End Lease Early?

[civicmanic]

The tenth generation has been around for 6 years (2016 to 2021 model years).
I am not aware of a Civic generation lasting longer.

First gen went 7 years. Most generations have went just 4 years.

Sponsored

 

[MoTeC R]

That's correct. Buying a 11th generation 2022 civic will be like buying a 2016 10th, which of course added new technologies, and had all problems fixed up .

So the advice for the patient buyer would be to wait for the 11th gen, and then wait a few more years until they debug it..... but by then the 12th gen will be right around the corner.....

Well said. I waited until the second half of the 2019 model year for my Type R even though I wanted it in 2017. I knew to wait. I even missed the grinding gears, production recall on 2018 & 2019 fuel pumps. The locked until recently ECU which can just recently be hacked in house if you ship your ECU out, the Honda sensing I didn’t want, the faux Alcantara steering wheel and shift boot. So lucky for a change to feel I bought at the right time in the production. I even picked up the new 2020 Altima Platinum VC-Turbo just now vs the 1st year of production in 2019. Quicker than the Camry V6 and Accord 2.0. No modding that one. Being the 1st with a new product isn’t usually a good thing unless you’re leasing.

 

[Zeffy94]

I even picked up the new 2020 Altima Platinum VC-Turbo just now vs the 1st year of production in 2019. Quicker than the Camry V6 and Accord 2.0. No modding that one. Being the 1st with a new product isn’t usually a good thing unless you’re leasing.

Hopefully your CVT lasts long. The new Altimas sure look far nicer than previous models but that CVT reliability is a real concern.


If you look at the new RDX versus the last model year of the previous generation, the new one had a LOT of issues compared to the previous gen. That being said, the new one also looks better, has a much more modern interior, and drives a helluva lot better. Usually the trade off versus late previous generation and early new generation is reliability for things like electronics, tech, etc.

 

[Dubers]

9 months early with extremely low miles you shouldn’t be upside down. At least if your not and you plan to buy the next 9 months payments are going to the car your buying instead of turning in. Even mildly upside down see what the next 9 months pays into owning the next one vs leading since you are buying this time around. Beside you go to the dealership get a Carmax purchase value and don’t even mention the trade until price is negotiated. I sold cars for years I know all the tricks of the trade.

lmao tricks of the trade? As if any salesperson worth their salt wouldn’t inquire about the 2 year old Honda you showed up in? You do realize OP would be forced to show proof that he is in a HFS lease to receive the loyalty pin for his next vehicle?

Tactics aside, the civic is a value option; clawing back some of the whopping thousand ish profit margin isn’t gonna make a huge difference in your payments. Not enough to take your sales guy to the woodshed over lol. Just my two cents.

 

[civicmanic]

lmao tricks of the trade? As if any salesperson worth their salt wouldn’t inquire about the 2 year old Honda you showed up in? You do realize OP would be forced to show proof that he is in a HFS lease to receive the loyalty pin for his next vehicle?

"Right now, I am just looking for what valuation you will give me to trade the car in. If I am satisfied, we can go into all the other details from there".

 

[Dubers]

"Right now, I am just looking for what valuation you will give me to trade the car in. If I am satisfied, we can go into all the other details from there".

At which point they will do a VIN check, and realize you are in an existing lease.

 

[civicmanic]

At which point they will do a VIN check, and realize you are in an existing lease.

I just traded in a leased car last month. So, what's your point?

 

[Dubers]

I just traded in a leased car last month. So, what's your point?

Jeepers, of course you can return a lease early and get a new vehicle (though it isn't a trade-in because the ownership is in Honda's name). My point was simply this: there is no need to hold a blanket over your dealership's eyes in respect to your lease. The kms, vehicle condition & history will determine your equity. If you don't like the value, make an offer. Purposely withholding information, which will probably come to light anyway, probably works counter to how you'd hope -- especially if you plan on servicing at that particular dealership.

 

[civicmanic]

Jeepers, of course you can return a lease early and get a new vehicle (though it isn't a trade-in because the ownership is in Honda's name).

Call it what you want, it's the same thing as a trade in. The buyout on our lease was $9700 and they gave us $10,200 as a "trade", so we used the $500 equity towards winter tires for the new crv.

They then put new tires on the civic we traded and put it on their lot for $14,100 and it sold it less than a week.

 

[Dubers]

Call it what you want, it's the same thing as a trade in. The buyout on our lease was $9700 and they gave us $10,200 as a "trade", so we used the $500 equity towards winter tires for the new crv.

They then put new tires on the civic we traded and put it on their lot for $14,100 and it sold it less than a week.

Congrats

 

[civicmanic]

Congrats

Congrats to them, they easily made a good 30%+ profit on my old civic(more when you include all their BS fees). The margins on used cars for them is huge, that's why they'd want OP's old civic and I wouldn't doubt if at this point he can get out at least breaking even.

 

[civicmanic]

Don't listen to people like @civicmaniac. Not because he's wrong (he's not) but spending 2+ days at 4+ hours a day in a dealership grinding away at a few hundred bucks is literally not worth your time or frustration.

This statement really confused me, so I read over my posts here and I am still confused. I didn't say that. Did you mix me up with somebody else?

As a matter of fact I spent ZERO time at the dealership grinding away with the salesperson.

 

[Dubers]

Congrats to them, they easily made a good 30%+ profit on my old civic(more when you include all their BS fees). The margins on used cars for them is huge, that's why they'd want OP's old civic and I wouldn't doubt if at this point he can get out at least breaking even.

Listen man, that car you "traded in" needed tires. Nice. $800 Canadian. They are now into it for 11K, and that's assuming no other reconditioning necessary to retail (if they Honda certified it, I can guarantee it needed more). They listed it at 3K of margin, best case scenario. Let's assume they had a little wiggle room, say $500 -- maybe more. $2500 margin on a used deal is normal. Why are you all worked up? No one is taking a vehicle in at 50,000+ km without a few grand in margin. Cars aren't inspected by the shop during the appraisal. They need some buffer to protect against growing reconditioning costs.

 

[jred721]

Thanks for all the helpful replies. Just an update, work is busy this week so I made an appointment to get the car appraised on Friday and see how much equity (if any) I would be getting from trading it in. Hopefully the nunbers work out and a good deal is to be made.

If not, then all is good and i'll just be waiting a bit longer. One thing thats popped into my head that this pretty much only makes sense if I'll be trading in for a Honda, otherwise im assuming the fees and penalty associated with just turning it in early wouldn't be worth it. I have thought about the possibility of even getting something more fun like a GTI, but I havent driven a turbo Civic before so if am satisfied with the way it drives and the numbers are good, i'll be driving home in one

 

[MoTeC R]

lmao tricks of the trade? As if any salesperson worth their salt wouldn’t inquire about the 2 year old Honda you showed up in? You do realize OP would be forced to show proof that he is in a HFS lease to receive the loyalty pin for his next vehicle?

Tactics aside, the civic is a value option; clawing back some of the whopping thousand ish profit margin isn’t gonna make a huge difference in your payments. Not enough to take your sales guy to the woodshed over lol. Just my two cents.

Absolutely "Tricks od The Trade" is a good term. Anyone who has worked in the sales and finance end of the business can tell you. I could make customers buy a warranty I already included in the sales price then convince you to pay for a 100k bumper to bumper for more than I already packed on the deal once you’re in finance.

Sponsored