2012 honda civic si purchase?

[Michael Perez]

Hi guys new to the forum here. And I has leased a black si for 36 months zero down 279 a month. And now I love it and want to purchase it. Would it be cheaper to finance now or pay the residual at the end of the lease? Anyone with this experience please let me know.

Thanks Mike

 

[squiggy]

If you have an excellent credit score and can get a really low interest rate, it is about a wash right now.

 

[webby]

Find out of there are early lease termination fees... and call the bank that holds the lease. They can tell you the payoff amount on the car. You can always keep it to the end of the lease and buy it then. You can also find out what interest rates you could get to buy the car now through any bank/lender.

 

[squiggy]

Find out of there are early lease termination fees... and call the bank that holds the lease. They can tell you the payoff amount on the car. You can always keep it to the end of the lease and buy it then. You can also find out what interest rates you could get to buy the car now through any bank/lender.

Paying off the lease in full (early) should not be considered an early termination. I have paid them off early and then financed outright prior to the lease end date before with Honda without a problem. And Honda is the one that owns/finances the lease. A payoff amount can be found on their Financial Services website (http://www.hondafinancialservices.com/) by logging into one's account (register first if necessary).

The biggest thing to consider (in normal economic times) is whether or not you think the interest rates will go up enough to matter by the end of the lease.

 

[webby]

my understanding is that not all vehicles leases are held by "honda". From a honda dealership website -

====
2. Please be advised that the some leasing Banks will charge you a Lease Termination Fee (Honda Financial Service will not). You may also be charged for excess mileage above your contracted terms and/or any excessive wear and tear. Any such charges are not levied by Space Coast Honda Honda, but rather by your leasing Bank. Please also know that you will remain as the Registered owner until your leasing bank re-sells the vehicle to another consumer. This re-sale process can take several months.

Option 3: I would like to extend my current lease.
Please contact the Bank that your vehicle is leased with.
=====

 

[squiggy]

my understanding is that not all vehicles leases are held by "honda". From a honda dealership website -

====
2. Please be advised that the some leasing Banks will charge you a Lease Termination Fee (Honda Financial Service will not). You may also be charged for excess mileage above your contracted terms and/or any excessive wear and tear. Any such charges are not levied by Space Coast Honda Honda, but rather by your leasing Bank. Please also know that you will remain as the Registered owner until your leasing bank re-sells the vehicle to another consumer. This re-sale process can take several months.

Option 3: I would like to extend my current lease.
Please contact the Bank that your vehicle is leased with.
=====

Interesting. I am on my third lease and have never had anyone other than Honda Financial Services handle the financing. I wonder if dealerships will use outside banks for applicants that do not qualify through HFS?

Please also know that you will remain as the Registered owner until your leasing bank re-sells the vehicle to another consumer. This re-sale process can take several months.

I find this odd and would NEVER sign on to such an agreement.

 

[hey_mikey]

Interesting. I am on my third lease and have never had anyone other than Honda Financial Services handle the financing. I wonder if dealerships will use outside banks for applicants that do not qualify through HFS?



I find this odd and would NEVER sign on to such an agreement.

For some reason, some of the smaller dealerships don't qualify for manufacturer lease/finance programs. In those cases, they must go through local or other banks and credit unions. In most cases, rates will be much higher than through AHFC.

Also, some people who don't qualify for AHFC finance and lease specials can sometimes get a better rate through local avenues.

As far as the lease/title issues, those seem to vary by state.