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2016 MDX residual is reaching actual value a year early

hms1hms1 Posts: 18
edited January 2018 in Acura
My 2016 MDX base is on the second year of a three year lease and has a residual value of about $25500. The actual value of the car presently is between $28000 and $30000, The cars value a year from now will be considerably lower than residual.
My question is would Acura want to get the car back early to not lose money on the lease and would there be any benefit to me on a new lease?

HMS
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  • MichaellMichaell ColoradoPosts: 118,108
    hms1 said:

    My 2016 MDX base is on the second year of a three year lease and has a residual value of about $25500. The actual value of the car presently is between $28000 and $30000, The cars value a year from now will be considerably lower than residual.
    My question is would Acura want to get the car back early to not lose money on the lease and would there be any benefit to me on a new lease?

    HMS

    Ha! The trade in value on my Jetta is the residual value after less than a year.

    Anyway, Acura has an insurance policy to cover them if the market value of the car is less than the contract residual value. So, they'll be made whole at the end of the lease.

    No benefit to you - you only have the option to buy the car at the residual value on the contract.

    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

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