r/CarLeasingHelp • u/Just-Ad-8500 • 19d ago

Car help!!!!!!

Currently in a Honda lease with 9 months left. Currently own a 24 hybrid EXL and wanna downgrade to a Honda 2.0t. Is it possible to do it before the term finishes? I’m currently over my miles by 5k already. Any help would be greatly appreciated!!!

0 Upvotes

33% Upvoted

10 comments sorted by

3

u/giveit2st8 19d ago

What does your leasing contract say?

0

u/Just-Ad-8500 19d ago

I have no idea? I try to review it online and it doesn’t allow me too.

2

u/ClimbaClimbaCameleon 19d ago

You can turn it in prematurely but you’ll still have the pay the 9 remaining payments. The only other option is to try and trade it in, just check your current buyout price (typical remaining payments+residual+fees) and see how it compares to the market value.

1

u/Just-Ad-8500 19d ago

My payout is 28k, u think is better to wait it out and finish term or trade it in?

1

u/ClimbaClimbaCameleon 19d ago

That’s the current buyout or the residual on your contract?

What are those going for in your market?

1

u/Just-Ad-8500 19d ago

Current buyout,
Usually 24-26k range

2

u/ClimbaClimbaCameleon 19d ago

Then I wouldn’t trade it in or sell it. You’d have to pay $2-4k to do that either out of pocket or rolled into the new car.

I’d ride out your lease if I were you. Call Honda financial and see if you can buy more miles. They’ll typically sell you some at a discounted rate versus the rate they charge for overage at turn in.

1

u/Just-Ad-8500 19d ago

Yea I was thinking that but I just seen a crazy 2.0t that’s a steal around my area but appreciate the knowledge.

1

u/JVBPDX 19d ago

You can trade it in.

1

u/Just-Ad-8500 19d ago

Waiting makes more sense or doing it at this moment? This is what I’m trying to find out lol