I can extend month to month for another 12 months, but my research is showing me that these insane used care values are going to start to dry up soon and I would rather use it to my advantage since the normal course of life is to turn the car in, walk away and start over. Have you owned the Outlander? It seems you don’t like it?
I did go into this with the not knowing a thing about my trade, I waited for their numbers and once I had them , then I asked if they had any interest in the Honda.
First payment $319
One thing you are missing.
How do you know you are getting a deal on your trade in? When a dealer comingles a trade with a buy the dealer usually shaft you on both ends.
Hello, well because I negotiated the lease before they ever knew there was a trade. I verified the deal I was getting by working with another dealer and seeing what they both offered. My local Honda dealer offered me $24,500 on my 2018 Cr-V that has 12,000 miles on it, is in showroom condition (hardly left the garage during the pandemic) and my hobby is car detailing, the car has ceramic coating on it, the works, this dealer has another 2018 on there used lot that has 54K miles on it and they are asking $32K for it so I think there offer was stupid. Not to mention over my years of owning companies I have leased over 25 vehicles from them, there is no loyalty among these folks, NONE.
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Very smart. But haha pretty ballzy to offer you 24,5 when they have one on the lot for 32k
Yah my thoughts exactly.
There’s no point “starting over” in a worse car.
And if your equity disappears in a year, the most plausible explanation would be supply and inventory of new cars increased a lot. Which means your next deal should be better than this.
Not that you’re putting your equity to good use in this “deal” anyway.
Thanks for your opinion.
You really should just buy out the CRV and keep it for a long time to come. Driving 4k miles per year, there isn’t much upside to leasing. I also agree that the 2022 Outlander won’t really feel like much of an upgrade.
As an EX owner, Outlander PHEV 2018, I liked the car but my requirements were clear and at the time barely any options for a PHEV SUV.
- needed PHEV for carpool lane sticker
- needed a not so expense cars that I could rack up miles… sold it with 65k miles after 3 yrs
- needed enough space for a toddler/all their crap
- needed a car that I dont care want happens… door dings/toddler roughing it up.
It was a great car for what I needed, 7500 mi oil changes was all it needed plus some factory TSBs …I would have kept the car after the lease buy out, but an employee needed a fair price on a used car.
Theres no good lease deals but you seem to have some decent discounts…just depends if you have reasons to jump into a PHEV. The value and residual wont match after the new redesigned outlander phev comes out anyways. So a lease return is likely.
Yah I figured it would just be a walk away in the end. I may just wait for the updated PHEV when it comes out. I have some other irons in the fire so we will see. Thanks for the information from your experience.
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