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Buying Out

mstrluckymstrlucky Member Posts: 91
edited November 2022 in Honda
So my lease it up in my 2019 Accord Hybrid in 1 week. The buy out is $17,500.
I think it's a smart financial decision to buy it out in lieu of getting another lease although I'd like to get into a new car.
With the prices of cars now I think I'd be paying a huge premium to get into a new car.

What are current interest rates on used car if I buy out? I have excellent credit.

Also, the car has 45k miles. Could I get a Honda Care warranty that would take me to at least 100k miles or 5 years? Thanks.

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    MichaellMichaell Moderator Posts: 245,178
    mstrlucky said:

    So my lease it up in my 2019 Accord Hybrid in 1 week. The buy out is $17,500.
    I think it's a smart financial decision to buy it out in lieu of getting another lease although I'd like to get into a new car.
    With the prices of cars now I think I'd be paying a huge premium to get into a new car.

    What are current interest rates on used car if I buy out? I have excellent credit.

    Also, the car has 45k miles. Could I get a Honda Care warranty that would take me to at least 100k miles or 5 years? Thanks.

    Yes, I agree that buying out your lease is the right thing to do.

    No info on used car APRs - but, I'm sure the internet can help. Check with your local credit unions - I've heard that they may offer the best rates.

    It's a Honda - do you feel like you need the extended warranty?

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