I am in a tough situation guys, and need help. Im looking for a LEASE. 36 month, 15k miles per year. I currently own a 2023 Acura RDX and currently have approximately 17k in negative equity on it.
Im looking for an opportunity to roll that negative equity into a new lease, but it has to be an EV because of the amount of miles I have to commute to for work.
Any suggestions would be greatly appreciated!
Why do you “have” to get out of your current '23 Acura?
Financial issues. Side hustle i had fell through, new born baby, daycare payment, property taxes were raised… My Worst Nightmare all at once.
Before you can get any quality advice…probably need to know what the terms are on the Acura. How much is the payment? Also, what would be your budget for a new vehicle? Need to be sure expectations are realistic.
$17k in negative equity is going to raise your lease payment by at least $475 per month. Before you even factor in the cost of the replacement vehicle.
The negative equity would add $500/month to any lease.
So I don’t think it’s possible.
We don’t know yet, but the Acura payment could be $1500 a month. So, maybe there’s a chance lol
Does Acura allow lease assumptions?
Brutal sorry. Any reason why you didn’t lease the Acura with such a terrible dep curve?
I owe 53k on the acura. I took my car to Tesla earlier and they evaluated my car at 37k. Tesla ran the numbers and told me that a Model Y with the 7.5k tax credit (Came out to be $34k roughly), they told me that my payments would be around $990 a month for the SUV + my negative equity.
Im fine with those figures because ill still be saving money on gas. The issue is, Tesla is one of the companies that do not allow roll over negative equity into a new car of theres.
My current payment for my Acura is $915. As long as i can figure out a way into a lease EV for $1,000 or under, ill be happy.
Terrible impulsive decision on my end. My wife and I both got cars at the same time. I go the MDX and she got the RDX. So they made it sound beautiful. And at the time, i had my $ from my side hustles coming it so i wasnt thinking about $ at that time. Soon after, the new born came, daycare expenses, property taxes… All of them started to add up real real quick.
On a 44k RDX ? I guess you rolled some Neg Equity to get that figure.
So your paying $915 per month to lease an RDX ? Am I reading this correct.
At least you’ve got each other.
Having extra income shouldn’t be used to justify a bad financial decision, going fwd.
Negative. I own the RDX. I want to move into a lease to get rid of all of this negative equity.
How much a month are you spending on gas?
Have you shopped the Acura to various buying outlets to see who will offer you the most $$$ ?
I purchased it brand new in 10/2022. At the time, the vehicle with the specific package i got was going for 53k. Im sure i over paid at the time. Really impulsive decision that i regret.
Way to much. I work 32 miles away from home. If im guessing… $400 a month on gas easy.
15k / yr lease still is not going to work for you. Even if you only drove to work and back 5 x a week you’re at 16,120 miles per year. You don’t sound like a good lease candidate.
I havent done that yet. I was going to reach out to them to see what they could do for me, but the cheapest EV SUV they have is 65k. Definitely out of my price range. I could reach out to them and see if they have any used Tesla’s on the lot or doing something like that
Buying an EV??? Just light your money on fire lol
Defiantly sounds bad. The one thing i wasnt specific about is 8-10 weeks out of the year, im out of town and wont be driving my car. So that milage, 15k per year, isnt horrible. Its definitely do able for me to stay under. + I have my wifes car i could drive occasionally if needed if im getting close to that number.