| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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06-15-2017, 11:48 PM
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#1 | | I don't get it
Join Date: Feb 2016 Location: Richmond
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| 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 )  | 
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06-16-2017, 12:15 AM
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#2 | | I contribute to threads in the offtopic forum
Join Date: Jul 2010 Location: Neverland
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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
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06-16-2017, 12:49 AM
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#3 | | I don't get it
Join Date: Feb 2016 Location: Richmond
Posts: 402
Thanked 66 Times in 44 Posts
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| Quote:
Originally Posted by BaoTurbo  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
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06-16-2017, 07:44 AM
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#4 | | RS has made me the bitter person i am today!
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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.
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Nothing for now
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06-16-2017, 08:17 AM
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#5 | | Rs has made me the woman i am today!
Join Date: Jan 2012 Location: PENIS
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^ 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
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06-16-2017, 09:35 AM
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#6 | | I don't get it
Join Date: Feb 2016 Location: Richmond
Posts: 402
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| Quote:
Originally Posted by yray ^ 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  | |
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06-16-2017, 09:55 AM
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#7 | | Rs has made me the woman i am today!
Join Date: Jan 2012 Location: PENIS
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^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
__________________ There's a phallic symbol infront of my car Quote: |
MG1: in fact, a new term needs to make its way into the American dictionary. Trump............ he's such a "Trump" = ultimate insult. Like, "yray, you're such a trump."
| bcrdukes yray fucked bcrdukes up the nose
dapperfied yraisis
dapperfied yray so waisis
FastAnna you literally talk out your ass
FastAnna i really cant
FastAnna yray i cant stand you
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06-19-2017, 03:03 PM
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#8 | | I *heart* Revscene.net very Muchie
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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
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06-19-2017, 08:21 PM
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#9 | | I don't get it
Join Date: Mar 2012 Location: GVR
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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.
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06-21-2017, 10:05 AM
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#10 | | Oh goodie, 5 posts already!
Join Date: Mar 2015 Location: Yaletown
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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.
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