Conflicting payoff amounts

[CGab]

Originally Posted by louie0406

Not looking to buyout/finance the lease. I was just curious as to what the payoff is and there are 2 different payoff quotes depending on which option I choose. Payoff from a honda/Acura dealer is 2k less than if I choose the other option which is to have a bank or credit union pay it off.

So why not just call back and ask why there's a difference in the two??

[trlhiker]

Originally Posted by notnamed

It's a lease not a loan.

It doesn't matter. You need to find out who owns the lease and then contact them.

[louie0406]

Originally Posted by trlhiker

It doesn't matter. You need to find out who owns the lease and then contact them.

Acura financial owns the lease.

[duster1979]

I've never specifically heard of this, but my guess is that if a Honda/Acura dealership is paying it off there would be some assumption that you're turning the car in to get a new Honda or Acura so there's some incentive to make the deal.

[goldenlove]

Or there is some negotiation a lease on what the dealership must pay off vs if the customer paid it off. I mean, there has to be a good reason that a dealership finance department pushes leases so hard, not only because they hope to get a repeat customer, but because they are making some money on the deal if the customer swaps the lease for a new one. I know when I leased my Subaru, the finance guy told me that when the lease was up, he'd put me in a new model for no money down and keep my payments pretty much the same. So he had to be benefiting somehow, I don't think it was just to build customer loyalty.