Lease end coming up on my 17 EX-T coupe. Buyout is $13,600.

  1. Steve The Bluesman

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    ...and my mileage will be under 30k. I would be nuts not to buy it out, right?

    I was thinking about the 2.0T Accord, but I am not really a four door guy, not to mention the cost would be more than double the buyout of my Civic.

    I am thinking buy it out, drive it trouble-free for a 2-3 more years, and see if anything cool hits the marketplace that catches my eye. I'll still get good value on trade in.

    I think I am just trying to convince myself here, but I know it's the right move.

    35% window tint and a Hondata tune, here I come!
     
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  2. Fredline

    Fredline Senior Member

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    I'll be having the same issue come end of September. Right now my buy out is $15,244 on my '17 EX-L Sedan w/15,6XX miles on it. Dealer said they'd give me $16,750 for it to trade in.
    I want an Si Sedan in Red but they're hard to find around here. I'll probably end up buying mine as well. But I'll give it a couple months and look again...good luck with your decision.
     
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  3. BoxsterSteve

    BoxsterSteve still plays with cars...

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    I just straight up purchased my ‘18 Touring sedan.
    Always done that, but I’ve always been a lifer who hangs on to his vehicles for a minimum of a decade.
    I’ve never leased, and can’t see the logic in it.
    So, guys... enlighten me.
    And not being a smart ass here either.
    Why lease first and then buy out if when the lease is up?
    It can’t be less money, can it?
     
  4. REBELXSi

    REBELXSi Señor Member

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    I'm assuming some people just want the option to walk off they're done with the car.
     
  5. The Vyzitor

    The Vyzitor Senior Member

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    I leased my last Civic. A 2016 LX sedan. It was great. Super super low monthly payments. Car is under warranty the entire time. At the end, you can turn it in, or you just trade in. Because it’s a Honda, you’ll likely still have some residual value left over above and beyond the buyout price. I did.

    As for buying when the lease is up... I considered it. On the plus side, you’re basically buying a certified used car, and you know who the first “owner” was because it was you. You’ll be financing the remaining value, so again low payments versus buying new.

    Leasing is also a great way to build or rebuild your credit. It’s not for everyone... but for some it’s a great option.
     
  6. NonyaBisness

    NonyaBisness Senior Member

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    YES you would be nuts to not take the buyout, car is worth at least 2k more then that, thats equity you could get back even if you immediately turned around and sold it after buying it out which would give you more money to put down on the next car you want (assuming you have the cash to do the buyout and don't get a loan involved).
     
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  7. NonyaBisness

    NonyaBisness Senior Member

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    There are factors, if you are your own business and you use it purely for business use it's a big fat tax deduction and you can appear to be doing better then you actually are to potential clients, you don't want to be pulling up in a broken down piece of 10-20 year old junk when you are trying to sign a client that will be paying you tens of thousands of dollars over the next year or 2 while you work on their project, alternatively if you make sufficient money (like my oldest sister and her husband) then the benefit to leasing is if a car ever has a problem it's covered under the vehicles warranty and they get to constantly upgrade to new cars the way people upgrade to the new Iphone every year, for some people that reliability of always being in a low mileage car that you know doesn't and probably won't need anything more then oil changes the whole time you have it is worth paying for.

    I debated leasing before I ended up getting my civic, then I saw how insanely high the lease rates where (if leases where even available) on the vehicles I was considering and opted for the 3 year old civic because for the same monthly payment across the same timeframe I end up owning the car free and clear. The other cars I was considering was a Model 3 which had just become available for lease (but that would have necessitated some electrical work on the house to install a charger that could perform adequately and just wasn't worth it) and the other car I wanted simply can't be leased from what I was able to find.
     
  8. OP
    OP
    Steve The Bluesman

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    I leased my last few cars, and liked being able to change to something else, not worry about maintenance, etc.

    In this case I didn't intend to buy it, but the buyout is so cheap I'd be nuts not to. As for how it all works out, my deal was $0 down and $209/mo for 36 mos. So 7,534 + 13,600 buyout = 21,124.

    21,124 not a bad price at the time for a new 17 EX-T coupe. 13,600 is an even better deal for a used 17 with less than 30k. The #'s just happened to work out in my favor this time, so might as well take advantage.
     
  9. saz468

    saz468 Senior Member

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    Do you like the car?if so keep it. It’s unfortunate but not many two door cars out there “maybe”the next gen civic will still have a coupe :dunno:
     
  10. julianzh

    julianzh Senior Member

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    Lease the new 2.0T Accord for 3yrs and buyout that instead?
     
  11. charleswrivers

    charleswrivers Senior Member

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    If it’s trade in value is worth more than the buyout... buyout and trade in for an Accord...? You’ll have to pay sales tax on the buyout, but it’d be credited back and then some for the higher trade value. I’d work a deal on the side in the meantime before you go through the buyout to ensure it’ll work out.
     
  12. coo1rim

    coo1rim Senior Member

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    Accord is a lot of car for the money. But it can't out drive a Civic. If you don't want a bloated version of your current Civic, then buy-out.
     
  13. Hollywoo0220

    Hollywoo0220 Customer Service oriented (most of the time) :-)

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    You asked and answered your own post in the same thread? Usually a person will "self talk", but typing your thoughts out and answering them is quite different.
     
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  14. Hollywoo0220

    Hollywoo0220 Customer Service oriented (most of the time) :-)

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    There isn't any "trade-in" value @charleswrivers, it's a lease; thus, it has a residual in the contract.
     
  15. charleswrivers

    charleswrivers Senior Member

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    I thought from what he was saying the buyout price is low such that they’re would be equity to turn around an a potential Accord 2.0 trade. (shrug) I’d sure lock in a deal through before I did the buyout.
     
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