I just signed the papers for the total loss settlement on my 2018 Accord EX-L 2.0 (was hit head on by a reckless driver that lost control)
Original lease contract in July 2018 was $28,677, and the settlement came just came back nearly 5 years later at $28,409, essentially making this lease $4.46/mo - yeah I extended the lease a bunch during the 2021/22 madness
If you factor in the sales tax on the settlement I guess I was actually paid $45/mo to lease it.
I’m sure there’s crazier covid stories than this and yeah I know I’m not calculating it correctly with all the sales tax and rent charge, but still it’s a hell of a deal to get nearly the exact same price for a 5 year old car.
I’ve seen plenty of flips here, but anybody else have crazy long term leases?
You leased an Accord for 5 yrs at $360/mo?? How much DAS? Even if $0, you spent $20,880 out of pocket and got back $28.4k, but RV was $18.4k. So $10k to you, leaving you having paid $10,880. About $187.80/mo plus the DAS. Do I have that right? Or am I missing something?
Sounds closer to actually correct. It was indeed just 1st month plus fees DAS. I believe it was ~$880
MSRP was ~$32k before incentives and discounts, and settlement equity is just over $17k. Keep in mind I drove an average of ~6400 miles a year so that helps.
Even now one of the lowest cost cars I’m looking at is a 2023 accord hybrid EX-L, even paying MSRP they’re stll almost neck and neck against EVs that have crazy rebates and discounts.
GM paid me about $80/mo to drive two Bolts over 37mo and 42k miles . Going to be hard to do that again. $2k back on MSRP swap and $6k equity at end of lease, payments were $135/mo
Somewhat. I extended the lease several times during covid and the chip shortages because I didn’t want to deal with the nonsense of getting something new at a ridiculous price. I should’ve bought it out when the rates were 2.9% though.
I finally bought it out a few months ago right before somebody smashed into it
Probably not nearly as much as my wife’s medical bills. I probably would’ve kept it till it hit at least 50k miles or maybe 2 to 3 more years. It’s nice having your registration and insurance bill go down every year.
Everyone wound up ok, but 4 people went to the hospital. I think the other driver had a fractured vertebrae. Definitely the worst accident I’ve ever been in.
She’s from a country with government healthcare and was in disbelief when I told her the hospital bill would probably be like $30k. She’s like “But how? It wasn’t our fault?!?”. Luckily I know a good lawyer.
We had the 2018 accord Ex, paid $24xxx + tax for it in june 2018, large homeless camp across a 4 lane road finally gets disbanned after 18 months. Three days later we start having issues with the car, turns out it had rats that were chewing on everything wire related. Ended up with $5k of insurance damage, dealer that fixed it bought it from us at $26k, not bad for 4 years of ownership!
The new accord just looks so goofy to us, we haven’t really replaced the vehicle yet (this was last july). I wish I liked it better, the front end needs a lot of work IMO.
