I have a 2018 Honda Civic Ex trim. My lease is up Nov. 15th this year. I see people are making profits from a buyout&resell or keeping their lease with the market being hot at this time. I would keep the car however my needs have changes I really want to stay with Honda but with AWD for mountains trips during the winter.
Deal with Honda 2022 HR V lease Ex trim in black in NJ
36 months & 10k miles/yr.
amount due @ signing : $2820
monthly due: $320 + 35 service bundle (should I?)
Net pay off on trade in: $13672.65
*side note: they offered a Silver one with nearly 350miles for $300/ mo. but I refused for a black one
How did I do? The vehicle in transit so I don’t have it yet. will upload more contract details once complete!
No, you need to sort out how much higher than the buyout they’d be willing to buy it for/how much you could sell it elsewhere for. Start by getting a purchase quote from carvana for it, and just say that you own it. They can’t buy it out directly, but it’ll give you a data point to start comparing.
Alright, so if your buyout is $13700 and carmax will do $23900, you’re talking about $10k worth of equity here. That makes your HR-V lease $320/mo with $13000 das effectively by just giving them the car.
Why did you end up signing such a terrible deal? Too late to unwind it, but it does not appear you listened to any of the advice provided regarding the equity in the Civic.
This is not a lease contract. This is typical Purchase order. You can still run away from this terrible deal, even if You paid $500 deposit. Did You pick up new car?