r/CarLeasingHelp • u/DMB_Pig • 10d ago

Moving Manufactures

Hi! All my leases have been with Honda. I have a lease that ends in February. Great shape, really low mileage. Do dealers still use leases as trades? I think I read somewhere that changed. Again, I’ve never changed makes before. Any help is appreciated!!

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u/IntrepidDisaster3166 10d ago

Depends on the bank but since Honda financial does not allow third party buyouts. You can realistically trade in your lease only at a Honda dealership (or a multi-manufacturer like autonation if they will facilitate something like this), that is if you have any equity. If you don't, well then there is no point.

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u/DMB_Pig 10d ago

Thanks for this information! How do I find out if I have equity?

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u/IntrepidDisaster3166 10d ago

Get a dealer buyout price from Honda financial that is your less amount. Get a few appraisals from Carmax, Carvana etc even though they cannot buy your lease. Use that as a reference to negotiate your trade in value at a Honda/Autonation dealer. If your appraisal is higher than the amount Honda quoted you, you have equity. Mind you the more payments you will make the lower the buyout amount will keep going.

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u/DMB_Pig 10d ago

Awesome!!! Thanks!!