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#349367 - 05/29/11 01:49 PM Current Auto Market Suggestions
BobKay Offline
connoisseur

Registered: 03/23/10
Posts: 3167
Loc: Massachusetts Badlands
Really! This place is like having my own 'Magic 8 Ball,' 'cept for the specificity.

Here's the situation:

2009 Odyssey lease. Now in the 24th month of the 36 month contract. $373 p.m.

Dealership called the house and asked if I wanted to stop in to talk about my car and my lease. So I did.

I know they're hot for a late model Japanese anything, and, surprisingly, they're not being at all shy about they're desperation.

My van's pay off amt. is $17,083. It MSRP'd for around 26k.

They'll put me in a new one for 36/$400 w/no d.p., except for destination, or whatever. MSRP $27+k. This is my 3rd lease with the same assholes. I'm sorry. That was nasty. I should have said, "subhumans." All car-realted persons come even before lawyers in Bob's "professions-to-hate-parade."

In 2006 I turned in a lease a few months early upon their offer and leased a new one. The payoff price the day I did it was $15.7k

2 days later, when I went to p/u the new one, there was my old one, on an 4' elevated stand out in front with a big orange "sale price" sticker in the window-----"Just $19,999." I was an IDIOT!

My thoughts: Say no. Wait and watch the astounding $$ that's about to explode in the used car market. Keep it for the rest of the lease (12 mo.), buy it for $14+k, then sell it for whatever the newer, more panicked market will bear. Then I'd decide whether to lease again or buy a new one. And if there's nothing available to buy, then I'll just keep it.

Your thoughts?

FYI: For all Japanese mfgrs., there will be no delivery of their most poplular models until the last 1/4 of this year. Some American/Japanese plants have stopped already, because of the 20% of parts that still come from Our Mother of the Rising Sun.; i.e. last shipment of Civics is going on now. Models made entirely in Japan will fare no better.

My Honda dealer got 18 cars this week. They have 10 2nd string shitheads on the floor. (1st string shithead is the sales mgr.) A "good" shithead can sell that many cars, and then a few, in a month.
#'s ain't looking good for them.


Edited by BobKay (05/29/11 01:52 PM)
_________________________
"Ya rolls the dice and ya takes yer chanskes."
Popeye

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#349370 - 05/29/11 03:16 PM Re: Current Auto Market Suggestions [Re: BobKay]
jakewash Offline
shareholder in the making

Registered: 12/26/03
Posts: 10399
Loc: Calgary, Alberta
I would wait as well as the consumer market can be very finicky, but really, unless the market goes insane and jumps a huge amount it makes very little difference.

If I were to actually trade it back in I would want the payments to be at least the same or less and they pay all the delivery charges etc. you have the upper hand in this situation to make some demands.
_________________________
Jason
-----------------
TTTHHHPPPPPTTTT!

My HT

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#349377 - 05/29/11 08:38 PM Re: Current Auto Market Suggestions [Re: jakewash]
Adrian Offline
axiomite

Registered: 12/27/08
Posts: 6613
Loc: It's all about the location.
They clearly want your late model leased Odyssey, so like Jay said, I'd offer them less ($350 p.m.) with no additional charges up front....or just buy it out yourself and sell it for more $$. They say the used car market has gone up a fair bit over the last year, so you should be able to make some coin by reselling it after the buyout. You're in the driver's seat.
_________________________
Half of communication is listening. You can't listen with your mouth.

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#349395 - 05/30/11 12:07 PM Re: Current Auto Market Suggestions [Re: Adrian]
BobKay Offline
connoisseur

Registered: 03/23/10
Posts: 3167
Loc: Massachusetts Badlands
Thanks Jay and Adrian.

I've given it a lot of thought. Your input was (is always) helpful. I think that this is one of those rare instances that will allow me to do nothing at all, at present, without feeling guilty.

Remember the mid-80's when dealers were selling new Japanese vehicles for 10-20% more than sticker? In order not to pay that (you can't insure any $ over MSRP) I was on a waiting list for 8 months!

Thanks again, guys
_________________________
"Ya rolls the dice and ya takes yer chanskes."
Popeye

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