Car Buying Q & A

QUESTIONS - COMMENTS - SUGGESTIONS

Ask a question, get an answer; it's that simple

welcome aboard  feel free to post and answer questions

 

Car Buying Q & A
Start a New Topic 
Author
Comment
View Entire Thread
Re: Lease buy-out question

Thanks Ray. We are in Ohio.

I'll call Honda Finance first and see what they say about making the switch. I'll then call the DMV and ask about the rules here in OH. Hopefully, it will be an easy transaction at a minimal cost. I appreciate your help!

Re: Lease buy-out question

Well, I called Honda Finance and they told me the dealership should be able to take care of the transfer to my father-in-law. We went to the dealership yesterday and they agreed to do the transfer (assuming we purchase a vehicle from them, which we planned to do). They said we would still need a vehicle inspection. This would allow them to "ground the vehicle". What does that mean exactly? They said this would allow them to inventory the car and then sell it to my father-in-law for the lease buy-out amount. They said no other fees would be associated with the transaction (other than taxes, registration fees, etc). They also said if anything was noted during the inspection by SGS (Honda's third party inspection group), they would not be applicable and we would not have to pay anything b/c my father-in-law is willing to purchase the car "as is". I just wanted to see if you saw any "red flags" with this process. Honda Finance originally told me I wouldn't need an inspection b/c we were going to purchase the vehicle. Any thoughts/comments? Thanks!

Re: Lease buy-out question

As I mentioned earlier the dealeship can make the switch and will be more than happy to do so providing you do business there. I don't see any " red flags "

Re: Lease buy-out question

Hello..
There are many factors which should be kept in mind before signing the agreement of the lease. It is very important to follow all the clauses for better dealing.
______________
car leases doesn't just make sense financially, there are other benefits too.

Re: Lease buy-out question

Yes, i agree with you
____________________
Distribuidor de lubricantes