Kia Sorento lease end (over mileage, accident)

After a ton a searching finding my best course of action is still a bit difficult. My wife’s current lease: 2016 Kia Sorento LX (3rd row) 12/36k is now at 46k. We have 3 payments of $312 left. Residual is something like $18k and guessing we’d be lucky to get 13-14k given it was also in an accident a month into lease. Ultimately was back at the Kia dealership and dealt with properly. I know there aren’t very many “good options” but any suggestions on best course of action? Obviously selling is not doable given the value vs RV. And just turning in will probably bring $2k in fees with 10k+ over mileage. One wrinkle or only hope is we are also now close to buying a used car for our son. Most my searches come up with typically no help from Kia on mileage but if we are buying another car as well as new lease is there a chance they waive mileage? I’m guessing I’m just stuck a few thousand in neg equity and have to deal with accordingly but one can dream. Any ideas much appreciated. Thanks

I doubt they’ll goodwill in 10k miles. Maybe a few hundred. You really should have kept a better eye on things. Your options are to either buy out the vehicles and keep it (maybe give it to your son) or to pay the $2k mileage penalty.

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Well buying it out seems like the worst of options. Unless they negotiate that buyout. But everything I’ve read says that’s a big no. But buying it for 18k when it’s maybe 14-15k tops isn’t very smart. And when I say we are buying used car for son it’s not that…lol Something less than 10k with a few down.

Just pay the mileage and move on. Next time spread the miles out on another vehicle or go with a higher allowance. You could get an appraisal at CarMax.

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Exactly, just pay it and move on. Best course was action was to keep an eye on the miles to begin with. You went over by 10K, not 1K

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Yeh I’m going to get an appraisal to at least see where I stand. But not expecting much. As far as being over 10k. I know it’s not 1k so thanks for the input that was so useful. Sometimes when you have 4 kids just using another car is not an option. Life happens and unfortunately halfway through things changed and we had way more use than planned. We are leveled out to normal use now which helps at least not go a crazy amount more over before turn in. We did look into getting out as we breached the 36k awhile back. But with that many payments still left it didn’t seem to make sense. It’s gonna be close either way. Im pretty sure I’ll get dinged for tires if waiting till turn in so there’s that plus mileage also.

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No matter, how you look at it, you will need to pay for the over mileage. That accident on the record will make carmax give you a quote making you run backwards out of the store. Maybe leasing isnt a suitable option for you and you should consider buying a reliable used 3 row suv, like a highlander or pilot.
If you get into a new Kia lease, the price for 15k miles per year and then adding the 2k negative over the spread might look ugly.

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Pay the overage on miles, it’s the only viable option. I’ve been there, it sucks. But bite the bullet and move on.

Not sure if you’ve considered leasing for your son. Assuming he’s not driving 10-12K a year, you should be able to get a lease on an Encore, Cruz, etc… for $100 or under per month on a 24/7.5K term.

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$2,000 is inexpensive vs buying, maintaining and insuring another car. Pay the overage and move on.

Get 15k per yr if you need it.

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Cruze and Encore aren’t close to $100 a month and they haven’t been for a long time

Interesting, as @mani_is_kool just posted an Encore deal for $122 monthly… (Edit, I now see that was over a month ago)

They can be had. No one said it was easy.

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Yeh it will probably be more than 2k but you’re right still not much I can do. If I turn in and decide not to go with them again I will just get a bill for the $2k? Is that something that can be paid monthly like a medical bill for example or no? Seems paying that way rather than rolling over into high MF Kia would be better anyway. Researching GMC Acadia and seems like with better MF/RV and current brand switch incentive I could potentially get a great deal. Then I’d just bite the bullet and pay my over mileage accordingly.

If you have an accident on record with Carfax, don’t even bother with Carmax.

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Good luck with that with the current round of programs.

GM doesn’t do 7.5k mileage terms. 10k is minimum.

You missed my edit. But thanks.

I didn’t miss it…this was written below the edit. Made it sound like you were still insinuating it was available.

Paying it off is way better than paying MF and taxes on it (by rolling it in).

Leasing may not be right for someone if overage, disposition, and excess wear and tear are a financial hardship

Sorry for the confusion. That’s why I put the edit in parenthesis, to separate it from the original post. My bad!

What about with Kia directly? Just want to know truly where I stand in terms of equity even though mileage looks like best route. As I said I’d assume they would ding for new tires as well. Might be closer to $3k in overages when all said and done.

I dont think OP needs 7.5k or 10k. He definitely needs atleast 15k mpy.