Author Topic: Car suggestions.. bought car after lease ended  (Read 933 times)

Caribsurf

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Car suggestions.. bought car after lease ended
« on: December 21, 2021, 01:37:51 PM »
ok so I just bought my 2019 Honda Pilot after the lease ended. The payoff amount was determined pre Covid and now used cars are selling way above the predetermined value at the end of the lease...my payoff was $21,900.

Going by the Blue Book and Edmunds values,  private party the car is worth $32-34,000 and $30k or so trade in. Car Guru offered me $35,600 but I don't know if that is a scam.

debating whether to sell/trade in my car for a new one, lease a new car , keep my car.  it has only 17800 miles on it.

I HATE car shopping. I know I ALWAYS get screwed, but this time it looks like I made out alright and want to take advantage of it....any suggestions?   thanks
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Dwight (DW)

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Re: Car suggestions.. bought car after lease ended
« Reply #1 on: December 21, 2021, 02:05:35 PM »
We sold a car to Carmax once. They paid me way more than dealers were offering on trade.

Drawback to selling is……..new cars have gone way up and often sell above sticker. So you probably won’t come out ahead, if replacement car is over priced. Best to find a replacement before you sell that Honda.

We feel fortunate to have bought new vehicles right before COVID hit. We can keep our current vehicles until well after markets return to normal.

Hdip

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Re: Car suggestions.. bought car after lease ended
« Reply #2 on: December 21, 2021, 03:53:32 PM »
Carmax free appraisal takes less than an hour and is good for a week. I hear carvana pays a bit more.

Caribsurf

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Re: Car suggestions.. bought car after lease ended
« Reply #3 on: December 21, 2021, 08:49:55 PM »
We sold a car to Carmax once. They paid me way more than dealers were offering on trade.

Drawback to selling is……..new cars have gone way up and often sell above sticker. So you probably won’t come out ahead, if replacement car is over priced. Best to find a replacement before you sell that Honda.

We feel fortunate to have bought new vehicles right before COVID hit. We can keep our current vehicles until well after markets return to normal.

Ya Dwight that is the dilemma, sure I can clean up selling my car, but I still have to buy a car and the price of that car would negate my profit so it might be a wash. I might buy a used clunker to get me to the my foiling spots and wait for the car market to settle down .
Hobie Raw 8'10"
Jimmy Lewis Kwad 8'7"
L41 Bruce Wayne 8’10”
Jimmy Lewis Flying V foil SUP 6’11”
Fanatic Sky SUP foil SUP 6’6”
Coreban Rocket 10'6"
Hobie 14' race board

Caribsurf

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Re: Car suggestions.. bought car after lease ended
« Reply #4 on: December 21, 2021, 08:50:32 PM »
Carmax free appraisal takes less than an hour and is good for a week. I hear carvana pays a bit more.

Thanks will check out Carmack, thanks for the tip
Hobie Raw 8'10"
Jimmy Lewis Kwad 8'7"
L41 Bruce Wayne 8’10”
Jimmy Lewis Flying V foil SUP 6’11”
Fanatic Sky SUP foil SUP 6’6”
Coreban Rocket 10'6"
Hobie 14' race board

PonoBill

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Re: Car suggestions.. bought car after lease ended
« Reply #5 on: December 22, 2021, 11:07:28 AM »
It's a weird market, but every market is currently weird. I generally buy either exactly what I want/need and just accept that I'm getting fucked, or I buy crap cars. My current Maui surfmobile is an undistinguished soccer mommy van that I bought used from Hertz with 35K miles on it. I paid a little over $10K for it, and it's fine. Doesn't smell too bad, carries my usual ton 'o crap, and gets adequate gas mileage.

My wife insists on new or completely restored, doesn't mind spending a small fortune, but she keeps cars forever so the initial cost doesn't mean too much. She bought a Boxster when they were unobtainable, paid $10K more than retail for a "used" Boxster with 1K miles on it, and then kept it for 14 years and sold it for nearly nothing. Cost per mile? Not much. When we got married her daily driver was a restored, matching numbers '62 corvette. She drove that for ten years and sold it for $20K more than she paid for it. Somewhere between and overlapping both cars, she bought a slightly used Bentley Continental Spur, had a blast with it for five years, and sold it for a few thousand less than what she paid for it.

My point is simply this, no one has a useful strategy for predictably minimizing the expense of owning a car. Do what you want to suit your needs and wants. Sometimes lightning strikes and you make a buck, usually, you get hosed. That's about as good as you can do.
Foote 10'4X34", SIC 17.5 V1 hollow and an EPS one in Hood River. Foote 9'0" x 31", L41 8'8", 18' Speedboard, etc. etc.

Wetstuff

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Re: Car suggestions.. bought car after lease ended
« Reply #6 on: December 23, 2021, 09:15:51 AM »
For many years I bought 'service loaners' ...they all seemed to take a big haircut - you need the option codes to make sure they were fully kitted to get the most out of the deal. (better options do not seem to increase the secondary price of high end cars)

I still drive weekly an '01 ML320 I bought in Toronto when the $CDN was .85c US. (US-made = no import fees ..now revised to Euro spec TPMS to keep schmucks like me from coming back) 

A lucky score was the purchase of a '19 Outback loaner in Cleveland - the car had been sold twice so I got offered a stuffed 3.6 new one. (buying later in the season helps..) ' Wired the check and they had an outlaw deliver it the 12hrs for $300.  We never drove a Subie - it's pretty good but common as telephone poles.  Buying cars can be fun if you make it a game.

Carib, I'd probably keep the Honda forever and buy another vehicle.  It seems a solid value.

Jim
Atlantis Mistress .. Blue Planet MultiTasker ..   Atlantis Venom

Caribsurf

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Re: Car suggestions.. bought car after lease ended
« Reply #7 on: December 23, 2021, 10:22:47 AM »
Buying cars can be fun if you make it a game.

Carib, I'd probably keep the Honda forever and buy another vehicle.  It seems a solid value.

Jim

I agree Jim, the Pilot is in A+ condition and well maintained and really low miles. I drive maybe 7500 miles a year and most of that is driving between Florida and Maine.  I also knew the $ payoff amount..no hidden fees, charges and other BS.  It's a great deal for me actually because I can probably sell it in a couple years and still come out ahead. 
Hobie Raw 8'10"
Jimmy Lewis Kwad 8'7"
L41 Bruce Wayne 8’10”
Jimmy Lewis Flying V foil SUP 6’11”
Fanatic Sky SUP foil SUP 6’6”
Coreban Rocket 10'6"
Hobie 14' race board

sup_surf_giant

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Re: Car suggestions.. bought car after lease ended
« Reply #8 on: December 23, 2021, 03:18:02 PM »
Sold my leased Tundra to Carvana w 2 years left on the least.

Payout was $30,100. Carvana gave me $40k.
Taller than most, shorter than others.

Caribsurf

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Re: Car suggestions.. bought car after lease ended
« Reply #9 on: December 23, 2021, 08:56:50 PM »
Wow you scored big time...what did you end up buying?
Hobie Raw 8'10"
Jimmy Lewis Kwad 8'7"
L41 Bruce Wayne 8’10”
Jimmy Lewis Flying V foil SUP 6’11”
Fanatic Sky SUP foil SUP 6’6”
Coreban Rocket 10'6"
Hobie 14' race board

 


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