Lease return

[Suz7869]

Hi all! My lease will be up in two months and I'll be trading my Civic in for a newer model. Over the summer I sustained damage to the front bumper, cracked it underneath after hitting a porcupine. I had an estimate done but never got it repaired. I understand I need to have an inspection before the car is returned. Do you think I should fix the bumper before the inspection? Or wait until the inspection is done to see how much would be covered beneath the Honda loyalty waiver? Thanks!!

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[Lukifer]

Well you can go have it estimated for free at a body shop. Then you will know how much it will cost to fix and can make an educated decision.

 

[aegeanbluecivic]

You can try to repair it but since you have about 2 months left have you tried to see if you had any positive equity? You can try to see if carmax would buy it assuming it's worth more than you owe.

 

[Deezy]

Hi all! My lease will be up in two months and I'll be trading my Civic in for a newer model. Over the summer I sustained damage to the front bumper, cracked it underneath after hitting a porcupine. I had an estimate done but never got it repaired. I understand I need to have an inspection before the car is returned. Do you think I should fix the bumper before the inspection? Or wait until the inspection is done to see how much would be covered beneath the Honda loyalty waiver? Thanks!!

How much was the estimate you had done? How much is the Honda loyalty waiver? And I must say, that's the first time I have heard of anyone hitting a porcupine!

 

[unr1]

Things happen. Somebody in a parking lot nicked my front bumper.
It really depends on the extent of the damage and the dealerships inspection.

Please let us know how it goes.

 

[Suz7869]

How much was the estimate you had done? How much is the Honda loyalty waiver? And I must say, that's the first time I have heard of anyone hitting a porcupine!

Haha well Iive in Maine, wildlife is a common road hazard! The estimate I received was for around $1,000. The Honda loyalty waiver is damage up to a thousand. However I'm afraid if I get lease inspection through the vendor company that Honda uses, they will estimate the repair at a higher cost. Which is why I'm leaning towards getting it fixed before having the lease inspection.

 

[jgreen16]

It really depends on the extent of the damage and the dealerships inspection.

The dealerships don't do the inspections. Honda/Acura use a third party inspection company.

 

[jgreen16]

Haha well Iive in Maine, wildlife is a common road hazard! The estimate I received was for around $1,000. The Honda loyalty waiver is damage up to a thousand. However I'm afraid if I get lease inspection through the vendor company that Honda uses, they will estimate the repair at a higher cost. Which is why I'm leaning towards getting it fixed before having the lease inspection.

You don't have to wait until the last minute to get the inspection. You schedule it maybe 3-4 weeks prior to the lease end date, and see what the inspection company estimates the repair at. If less than $1,000, you're good to go if you're buying or leasing another Honda/Acura. Even if it's more than a $1,000, you should get the $1,000 credited towards the repair, so unless their estimate is $2,000 +, you're still ahead.

 

[kg4fxg]

Just curious. Is there a value to leasing? I have never leased a car. I would feel like walking on egg shells. Anything goes wrong I am in trouble. Do you come out ahead? I have heard it is one way to always drive a new car? Me, I run too many miles and would be penalized. From what I have read you are limited miles or charged maybe that has changed. Just curious as to the advantages or maybe it comes down to your personal situation. I just never considered it as an option. Just bought all my cars no financing.

 

[aegeanbluecivic]

Just curious. Is there a value to leasing? I have never leased a car. I would feel like walking on egg shells. Anything goes wrong I am in trouble. Do you come out ahead? I have heard it is one way to always drive a new car? Me, I run too many miles and would be penalized. From what I have read you are limited miles or charged maybe that has changed. Just curious as to the advantages or maybe it comes down to your personal situation. I just never considered it as an option. Just bought all my cars no financing.

There's several benefits especially if you do zero down with appropriate fico scores. You will always have warranty and get a new car every 3 or so years with the newest features and technologies. You don't have to deal with trade in issues. Depending on the value of the car verses what's owed near the end of the lease you could walk away with free money in your pocket by selling it with whatever positive equity you have.

Sure you don't "own" the car but if you like it you have the option to buy it by the end of the lease term. I would only recommend leasing if you drive less than 12k miles per year and want to drive a new car every few years. You can opt to get a higher mileage cap but there are costs associated with it.

 

[kg4fxg]

Thanks, I drive a long commute. 17,600 per year. But I can see the advantage. Just would not work for me. Maybe I should get a job closer to home! I normally keep a car 5 years. I should be able to keep the Civic longer. Last car had 88K. Traded to avoid the expensive repairs. Mini Cooper. But in 5 years major technology change. As some have said, I will get tired of the Civic and trade for new model due to technology or whatever before the car wears out. In the meantime, repairs should be affordable compared to luxury models that in my opinion having owned them are not any better. I love my Civic Touring. Thanks for reply. I would gladly put the Civic up against any luxury model car. Very nice car. Life does not get any better.

 

[Lukifer]

Just curious. Is there a value to leasing? I have never leased a car. I would feel like walking on egg shells. Anything goes wrong I am in trouble. Do you come out ahead? I have heard it is one way to always drive a new car? Me, I run too many miles and would be penalized. From what I have read you are limited miles or charged maybe that has changed. Just curious as to the advantages or maybe it comes down to your personal situation. I just never considered it as an option. Just bought all my cars no financing.

Leases give you a mileage allowance. Mine is 36000 miles over 3 years. If you go over you pay, unless you buy the car at the end of the lease. My commute to work is 3.5 miles so it works for me. Full bumper to bumper warranty for the whole lease is nice and its fully insured. I have no children and no pets so my cars stay very clean; no extra wear and tear.

For me its the opposite of walking on egg shells. I have no worries or anxiety about my car and just enjoy it. Then turn it in and get another one.

It all depends on what works for you.

 

[unr1]

The dealerships don't do the inspections. Honda/Acura use a third party inspection company.

Thanks for clarifying

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