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Civic 2012 lease end options

qwertyclqwertycl Posts: 15
edited May 2015 in Honda
Can't seem to get any decent lease deal lately.

Question if anyone has dealt with this. I spoke to Honda Financial and they gave me the option of extending my current Civic Lease for current payments of $75 (I paid down a lot at the start which I learned never to do again).

They also stated my current damage inspection is valid for 120 days and if I return prior to 120 days a new assessment will not be required. I am currently at $900 damages out of my $1,500 waiver.

Is it a decent idea to extend the lease until mid-August and then they start to dump 2015 models on better deals? I'm worried about being out of warranty but that is no different than a 39 month lease. I am currently under 20,000 miles so that's not an issue.

Opinions?
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Comments

  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    So what are your plans for August to replace this car?
  • qwertyclqwertycl Posts: 15

    So what are your plans for August to replace this car?

    Buys me time now to find a decent deal. Hoping towards end of summer they start to dump 2015 stock and better deals come around. I can't find any decent deals now at all - Accord LX for $250, CRV for $269 - dealers won't negotiate a cent even after pricing out the lease with their sell price, term, MF and residual.

    As for model, possibly CR-V. I'm just weary or being out of warranty and getting stuck with a crazy bill. Car is barely being driven any longer, at most once a week on Sunday. Only has 18,000 miles after 36 month. However it's due for inspection so worried something comes up (then again, a 3 year old 18,000 mile Civic should have no issues).

    Just wondering if this is a dumb option to pursue.
  • MichaellMichaell ColoradoPosts: 140,647
    qwertycl said:

    So what are your plans for August to replace this car?

    Buys me time now to find a decent deal. Hoping towards end of summer they start to dump 2015 stock and better deals come around. I can't find any decent deals now at all - Accord LX for $250, CRV for $269 - dealers won't negotiate a cent even after pricing out the lease with their sell price, term, MF and residual.

    As for model, possibly CR-V. I'm just weary or being out of warranty and getting stuck with a crazy bill. Car is barely being driven any longer, at most once a week on Sunday. Only has 18,000 miles after 36 month. However it's due for inspection so worried something comes up (then again, a 3 year old 18,000 mile Civic should have no issues).

    Just wondering if this is a dumb option to pursue.
    Paying $75/mo for a lease? Nah, I think it's the right strategy ... there should be some blow out deals later this summer as the 2016's start to arrive.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • qwertyclqwertycl Posts: 15
    edited May 2015
    Michaell said:



    Paying $75/mo for a lease? Nah, I think it's the right strategy ... there should be some blow out deals later this summer as the 2016's start to arrive.

    That's what I was thinking. Extend it to August prior to needing a new damage inspection [don't like the sound a another inspector reassessing the same damages and having a different and higher opinion] hoping for dealers clearing out 2015 stock at the time.

    $75 + $6.65 tax. Tough to say no. I guess I'm just paranoid regarding the warranty and getting stiffed with a huge bill when returning the car. Then again, I did my routine oil changes, only put 18,000 miles on the car in 3 years and only drive it once a week on Sundays. So don't really envision tires/breaks/battery issues that they could tack onto me...
  • kyfdxkyfdx Posts: 148,108
    qwertycl said:

    Michaell said:



    Paying $75/mo for a lease? Nah, I think it's the right strategy ... there should be some blow out deals later this summer as the 2016's start to arrive.

    That's what I was thinking. Extend it to August prior to needing a new damage inspection [don't like the sound a another inspector reassessing the same damages and having a different and higher opinion] hoping for dealers clearing out 2015 stock at the time.

    $75 + $6.65 tax. Tough to say no. I guess I'm just paranoid regarding the warranty and getting stiffed with a huge bill when returning the car. Then again, I did my routine oil changes, only put 18,000 miles on the car in 3 years and only drive it once a week on Sundays. So don't really envision tires/breaks/battery issues that they could tack onto me...
    It's a Honda... no worries.

    Most of our Honda leases were all 36mo, 15K/yr, so we were frequently out of warranty. Never had an issue.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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