| MDXFile |
MDX FOR SALE: SF BAY AREA
I love my X, but I have to say goodbye.......
LOW MILEAGE (approx. 1800), Delivered 6-23-01
TOURING PACKAGE (w/out Nav)
Mahogany / Tan Interior with almost all of the OPTIONS:
---Gray Accented Factory Fender Flares
---Running Boards
---Rear Air Deflector
---Wood Steering Wheel
---Wood Dash
---Wood Shifter Knob
---Cargo Cover
---Mudguards (4 Wheel)
---Wheel Locks
---Always Garaged
---No Thud
OPTION #1:
$38,750 + tax
OPTION #2:
Assume Honda Finance Lease of $615.23 / month + tax (originally 48 month, 15,000 miles / year)
If interested email: Norriscyn@aol.com |
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| davegood |
| Do you mind me asking why you're parting with it -- you haven't had it very long.... |
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| MDXFile |
| Have no fear and enjoy your X when it finally arrives. The reason that I am selling is that my situation may be changing and I am proactively trying to prepare for it. |
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| skspgh |
MDXfile,
I hope you realize that if you sell your lease - ie. let someone else assume your lease, that YOU are still ultimately responsible. So if the new guy goes broke, Acura comes back to you for payments. Or at turn-in time, the mdx is banged up and the guy doesn't pay or anything along those lines, Acura once again comes after you. Your name continue to remain as a 'guarantor' on the lease. So think 10 times before you sell your lease. If you decide to sell, well, there are still problems. To transfer ownership of the title to your name, you will have be pay sales tax! And the guy you sell it too, will also pay sales tax. Either way, it sucks. Once you are in a lease and want to get out, it's trouble all around. |
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| MDXFile |
skspgh,
Your post is accurate if one does not complete the sale or lease transaction in the following manner (this is based on info directly from Honda Finance):
If you sell your leased vehicle to a 3rd party and the 3rd party pays Honda Finance directly (with the original lessee paying any shortfall directly to Honda), then the sales tax obligation is based on the selling price to the 3rd party. The original lessee pays sales tax on any shortfall that may exist. Basically the same as a regular used car sale.
If a lease is assumed with the new lessee being credit approved and a new lease issued under the basic same terms and conditions, then the original lessee's exposure is eliminated.
In my case, I was offering the option of continuing the lease on my MDX if the parameters work out for the buyer. However, the most likely scenario that I anticipate would be a sale of the leased vehicle. |
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| davegood |
Thanks for clearing that up for us. I have always just sold leases early if I needed to get out of them. I was surprised to hear that the original leaseholder could still be held liable.
There is some info on this on www.swapalease.com I have never used this service, but it does seem pretty straightforward. I also enjoy looking at the lease payments some people assume -- I saw $1400/month for a LandCruiser. Maybe it's just me, but for that kind of money, I'd better own it in 36 months or less, not be leasing it for a 48 month term, as this one was. |
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