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Old 24 Jan 2008, 02:31 am
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Default does it make any difference trading honda in other car dealers...?

i wouldlike to trade my honda with another make, but i still have 16 months untill lease ends, but would like ot turn it in few months. would i lose more if i trade my honda at bmw or porsche dealer rather than honda dealers? what is the best way to get a good deal and not let the dealers rib off?thank you guys all, and all your answers were good. my brother would tell me exactly what doc said, "do not go broke"
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Old 24 Jan 2008, 02:46 am
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Okay, first of all, find out exactly how much you car is worth. you can do this by going to www.edmunds.com and be honest in the questions. Then Subtract how much you owe from that amount. That is how much you have to bargain with. Honestly, go into the dealership and have all your facts straight. Know how much you have to spend, how much you have to play with, what you car is worth, and how much the vehicle you want is worth both at MSRP (Manufaturer's Suggested Retail Price) and at whole sale price. ( how much your dealer actually paid to buy it from the manufacturer.) Then if at that point they can't do it, go to another dealer. At about the point you are going to walk out they normally "Think they might be able to work a deal". You just have to do your home work or you'll get screwed!
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Old 24 Jan 2008, 03:16 am
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Well a Honda dealer will probably give you a better deal.But I was not aware you could trade in a leased car. Since it's not really your car.Why are you leasing a car in the first place. It a money losing deal except for the dealer.
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Old 24 Jan 2008, 03:31 am
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However you look at it, you are going to lose money. You always lose money on car, but even more when leasing. There won't be much of a difference in trade in value with different dealers - a car will sell for what it's worth, but a dealer will only allow you a fraction of that selling price, so you lose even more.
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Old 24 Jan 2008, 03:46 am
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You "might" get a slightly better trade in value from a Honda dealer. But in the end all the dealers use the same books to determine value. Have you thought of trying to sell your Honda privately? Hondas are good cars to get out of a lease early because they typically hold their initial value longer, plus they have high residual values. It's possible you could get enough to pay off what the remaining 16 months and cover the residual value. Check out www.nada.com or www.kbb.com for a trade in and retail value. Then call Honda Finance (or whoever holds your lease) and ask how much the payoff is and how you would go about paying off the lease early. Then you be free of the Honda car and could get a new one without carrying over any negative trade equity.
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