[hellinnj]

I started putting my wife in a perpetual lease cycle, so she's always driving something newish, under warranty, and really never have to be too concerned with breakdowns and such (although I know they can happen, had a 2020 scat pack die on me at 71 miles....).

This first lease cycle is ending soon (2019 Honda Pilot), and I'm getting a bit concerned with finding anything new...Value (at least on-line resources) is still about what we paid for it, so I guess technically I can buy it and trade it in for whatever's available (trying to find a tahoe or yukon, but challenging)...

Anyone ever do something similar, and make a few bucks at lease end? Is it a pain to do?

 

[Blickie]

I started putting my wife in a perpetual lease cycle, so she's always driving something newish, under warranty, and really never have to be too concerned with breakdowns and such (although I know they can happen, had a 2020 scat pack die on me at 71 miles....).

This first lease cycle is ending soon (2019 Honda Pilot), and I'm getting a bit concerned with finding anything new...Value (at least on-line resources) is still about what we paid for it, so I guess technically I can buy it and trade it in for whatever's available (trying to find a tahoe or yukon, but challenging)...

Anyone ever do something similar, and make a few bucks at lease end? Is it a pain to do?

Yes, many are buying out the Lease including my dealer's svc mgr and me to name just 2. I start my Lease Buyout process in 2 weeks. Buy the car out and you have a known-reliable asset to keep or trade that is and has proven to be reliable. During the Buyout, get an Extended Warranty added and you are good to go.

Have your priced your Honda on NADA.com & Kelley Blue Book to see current value compared to the Lease Residual??

You have to watch out on ordering a new car. It may take a while and may come in with Features/Options removed because of chip shortages, the dealer was not told or had any idea and you were not told (yes, some manufacturers are doing this). The car appears, options/features are missing, possibly some Safety Items, so then you have another choice... do you complete the deal or reject while trading in a known-good car in the process.

Buy out the Lease, take a beat and let the new car market settle down.

JMHO

 

[baabootoo]

If you have a TV, the prices are higher than what we paid, for just about everything. I think the general consensus, from my 14 Nobel Laureates, is to buy it and keep or resell for more. Have you checked the price of your car on Carvana or Vroom? Do NOT go to the Honda dealer since they will take advantage of you like they did my friend and make money from your old car.

 

[HellcatMatt]

With Honda you don't have to buy it out per-se. You can trade it in or sell it at any dealer, the dealer pays off your lease and cuts you a check for the remainder if you have equity.

 

[HLZBLZ]

If you can afford to it, buy the lease out, and then trade it on the new one, roll that equity into a new whip. My first hellcat was a lease, and I did the same thing for my new 2021. Lease buyout was 46, dealer gave me 68 on trade, no brainer.