Equity 2019 Honda HRV

Clueless & need help.

I lease a 2019 Honda HR-V 10K miles 36 mo. $215 payment which ends in Feb. My RV is 13,595.20. Edmunds say MV is 19,254. Carmax purchase price is 22K. Since it’s Honda I have to deal with Honda so the Carmax amount is just to show what they said. I see other HR-V’s for sale, same year and same miles for 25K. I clearly have equity. I am thinking about leasing a 2023, if I can get a low payment. Local dealer shows 2023 lease for $249. How do I get my equity if I buy it or lease a 2023. I don’t want the money applied to the car. I leased years ago. Equity wasn’t a thing back then.

Also will my purchase price be the RV?

Looking for dealers in my area Southern CA 92592 with 2023 HR-V’s. My local dealer shows them on their website but none in the lot.

Thanks in advance.

RL

My guess is that’s actually something more like $249/mo plus tax with $3k down, not including taxes and fees, yes?

Both new car and used car prices are dropping. I would just ride out the existing lease and cash in whatever equity is still there when the lease is up. Since the 2023 HRV is a new model, prices are probably very high now, and should be better in February, since the new model will have been available for about 8 months by then.

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So more like $450-500/mo then

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$249.00 Lease Per MO. For 36 MOS. $3,799.00 Due at lease signing.

plus taxes, fees, dealer add ons, etc, I’m sure, making that easily $450+/mo

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Oh! I didn’t realize that. My current lease on my 2019 is $215 with everything.

Yah, you always have to be careful with the asterisk of all the things they don’t include in those advertised numbers.

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Not until you have made all 36 payments. You need to request the payoff.

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So the dealer will just cut me a check for the equity?

I’m wondering if they will give me my equity and if the lease price is what I need, let me lease the new one without applying the equity to the new lease.

Most dealers allow this. Some try to mix it so they can make more money in the paperwork shuffle.

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If the lease is with HF the equity can be found here.

https://payoffahfc.dealertrack.com/

Edit: sorry it doesn’t work for lease payoff anymore

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The BS ad you’re seeing for the 2023 lease is just BS so just forget you ever saw it.

Buy out your 2019 lease and extend the warranty if you need the peace of mind. You could finance a 2023 but that depends on the numbers.

A horrible lease makes no sense.

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Can I get a check for my 2019 Honda HR-V equity when I go to lease a 2023 Honda HR-V? Years ago I leased a Toyota. I turned it in for a new lease and didn’t have anything DAS. Back then equity wasn’t a thing. I want to do that again but walk away with my equity.

You already asked and got an answer to that question 2 weeks ago.

Thanks. I just re read and see someone said most dealers do this.

I have been searching and reading so much info about different cars since then I forgot!

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Does leasing a 2023 HRV make sense under current programs?

Just got back from the dealer. It sure doesn’t! I will just buy my 2019.

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