My 2022 Acura MDX (tech package) comes due Feb 20. Coming off of a 3 yr lease and am currently over my mileage by about 14k miles @.20 a mile. I also have a dime size crack in the windshield and minor scratches here and there.
The buyout is 37k with taxes with almost 50k miles out of warranty now. Would I be better off purchasing, turning it in or turning it in and releasing a new Acura or similar (conquest).
On a side note, my mother passed away this month so I’m inheriting her 2019 Honda CRV ex with just over 9k miles. I can keep this or also sell this outright.
Seeing what you guys would do on this situation. I’m trying to figure out the best option without losing too much money.
My wife’s 2020 lease ends in March. It’s her third MDX. Acura is pretty linient on scratches, but they’ll charge you for a windshield crack and worn tires. Just get a pre return inspection. Easiest thing would be to just return it pay for mileage. You can try to sell it on your own, but that’s a PITA. You can get quotes from Carvana and Carmax as well. If you really like it, just keep it. It’s a Honda, so pretty reliable.
I think Hondas are not as consistently reliable as they were, say, 15–20 yrs ago. The current gen MDX has had varying reliability (according to Consumer Reports).
OP, what are you looking for in a car and will you always be driving so many miles? Returning the MDX but driving the CR-V until the wheels fall off is probably the cheapest option.
But I personally found the last-gen CR-V super depressing just on a test drive (I was a passenger), and maybe you are looking for something more luxurious?
Have you gotten an offer from an Acura dealer on possible trade in of you vehicle? If the offer is less than the mileage penalty it might be best to trade it for a newer Acura.
I did schedule an inspection to see what the total would be to just turn it in.
I lost my job that I had when putting on so many miles with a long commute. These days, I’m definitely under 12k a year and maybe even less than that.
I think I’m leaning towards keeping the crv and get some use out of it as the 9k miles on it included a trip from NJ to GA. Mom barely drove and never really took to liking it as she had with her 2004 before this one. I agree, it’s kind of a boring ride but for the little that I drive, may be the best option.
I just wasn’t sure if turning it in to Acura and releasing getting help with the over mileage,etc and then selling the CRV on my own would be a better option.
In terms of driving something more luxurious, I really don’t have anything in mind right now and we bought a 23 X5 last year for the wife.
Have you called Acura Financial to see if you can pre-pay for mileage before turning it in? It might be cheaper than paying $2800 in overage mileage fees.
If I were in your situation and had access to a low mileage, presumably well maintained, paid off, late model vehicle from a reliable manufacturer that was owned by someone I trusted, I don’t think that I would hesitate to keep the CR-V unless I had my heart set on something in particular. $2,800 for mileage penalties stings and I suppose you could lease another Acura if you really wanted to in order to get a partial loyalty waiver, but is that something you really want to do? I’m sorry to hear about your mother, I lost mine 3 and a half years ago and it’s a void that I have been unable to fill.
“Mother is the name for God in the lips and hearts of little children” - William Makepeace Thackeray
Yeah, that’s what I heard too. I would really rather get another lease, but my wife wants to keep her MDX this time. Hopefully she’ll want a new car when it starts to break down. Maybe I can talk her into a $250 vinfast
He’s got an office in NJ or a few pics might do the job. He’ll likely be at a better price than you making the lease return on your own. The lease end inspection you scheduled will tell you for sure.
You are essentially paying $2,800 (maybe $3,500 with the scratch and window accounted for) for a 2019 Honda CR-V. That seems like a solid price to me. Even if you end up disliking it after a few months you’ll likely still end up ahead when you sell.
Get the MDX off your balance sheet, hang with the CR-V for a while, and don’t add complexity to your life right now after losing a loved one.
If you’re strapped for cash, you can also get a loan on the CRV, not that rates are great, but always an option. Would be pretty simple once you have a title in your name just find a local credit union to do a loan with.
I would get rid of both vehicles. Use the money from the crv to pay the over miles on the acura.
Then I would buy a vehicle for about 5-7k cash and keep the rest in the bank.
No matter what you choose. Keep your chin up. It’s really easy to do well when life is good. Times like this with the loss of a parent and changing jobs isnt easy.
