+1 for each of these:
and
To the OP, were you desperate to get out of your last lease, for some reason? Nov and Dec also have an end of the month…
I don’t need to read any further: drive the lease until disposition and pay the overage, get that credit score up 100 points. If it’s not possible by disposition, buy a used or cpo Honda/Subaru until it is.
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As he stated, he increased from 12k to 15k miles and added the protection. The 2 deals are nowhere near comparable.
Several people already mentioned cancelling the protection. That should get them closer at least.
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The bummer is you were in a perfect bargaining position…you had a ride, were in no real hurry, and could have negotiated from a ‘take it or leave it’ attitude, owing to not NEEDING it (esp, ASAP). I doubt you’ll again be in this position, but I would have handled the dispo entirely separately from the new lease deal, which only confuzzled the way this deal turned out. Like jeisensc said, take the lumps on the prior deal, but don’t build them into your next. Good luck!
Not much you can do now but enjoy the vehicle. Look at it this way- at least now you have 2-3years of lease hacker learning to do before you hack your next lease w/more experience.
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The lease matures on Feb 2021 (so 3 payments left).
If you change the mileage from 12,000 to 15,000. Then the numbers will start to line up.
Yes, there was a reason that I want to get out of the last lease. I wouldn’t say I was desperate to get out of the last lease, but there were reasons that I prefer to get out of it earlier.
There’s some exceptions when it comes to “last day of the month” unicorns, but most of the time the last day of the month doesn’t mean that much. Either a dealer would have met their sales goal beforehand, or it’s so out of reach that it doesn’t matter. You’re better off pushing and laying groundwork in the two weeks beforehand, so if they do need to blow something out, you’ve already given them a set of expectations to meet. More importantly than any of that though, what the hell were you doing operating a motor vehicle having been awake for over 30 hours straight? Forget about getting fleeced during a negotiation due to sleep deprivation, that’s a good way to get yourself or other people killed.
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I’m still a quite a noob here, so there are concepts that I’m still trying to understand. Can you elaborate more on what you mean: Do you mean that I should’ve just gotten a new lease without turning in the old one and let the old one reach its maturity?
@ElectricEliminator thanks for your concern on people’s safety, but no worries I had someone drive me around.
What he means is that you should have handled the transactions separately; The old lease turn in and the new lease.
I would have paid Honda Financial Services the $1497 + $330 (2200 miles * $0.15)- $1827. (Plus dispo fee or whatever) This way, you close that agreement and do not pay additional interest by rolling into the new lease.
Then workout the new lease. Rodo is offering the same car and MSRP for $319 for 15K. So $319 + the $1827 (divided by 36 months is $50.75) you would have paid off means total payment would be $369.75.
The dealer did you dirty with the whole b.s. and they won that battle.
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Yes. You would have saved on your current lease’s interest (rent charge). Instead you’re paying it, not using the car, and paying interest, while paying for another Honda.
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This is exactly what happens when you don’t shop payments. If you had, you’d know that that was BMW 5 series territory.
This could be true but OP’s credit might have landed him there with a boatload DAS (including down payments)
Where can you get a new 5 series for 15k miles/year in the low 400s without loyalty and MSDs?
How much was the protection coverage? As others have said cancel it unless you really need it.
You could get a 3 series or Giulia for less. My $45K Giulia was $260/mo, granted with loyalty.
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No offense, but Honda Civics are not exclusive cars. As a buyer, you have/had all the negotiating power. Honda dealers are a dime a dozen.
If it were me, I would have just walked out and come back the next day. Since you already signed the deal, not much you can do.
As other have said, don’t rush into a deal next time.
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And once again these remorse threads are going nowhere. The OP can channel their frustration into reading all the useful information on this site, if they really want to avoid making the same mistakes.