[Curvy2019]

Hi all,

I'm new to leasing and have a question that I hope I can get some independent answers for.

I have a 2018 CRV Touring leased for 4 yrs - picked up in April 2018. I've done just over 40km on it already which is ahead of my 24km/yr allowance.

Dealer contacted me this week and is offerring me a 2019 model on a new 4yr lease, at the same current monthly payment, with my current mileage zeroed out.

Dealer claims that he has customers looking for used CRV to buy.

It appears to me that

1. Dealer rolls me over and keeps me tied into a lease
2. I get some new tyres
3. My mileage overage is wiped out
4. My service costs are also reset to lower level services.

So what am I missing here?

Should I be asking the dealer for a better deal on my monthly costs?
Should I ask for him to throw in service?

Am I losing equity that went into the 2018?

Thanks for any advice.

 

[williamsji]

It's a lease.. so you don't have any real equity per se.

If what you say is true on the part of the dealer.. then you are getting a deal here because at the rate you are burning miles on that CRV... you will have a large mileage penalty when your lease is up.

That said.... keep in mind... when you go to the dealer and they inspect the vehicle before completing the transaction .. you may get surprised as they might revise the offer based on the inspection (including the high miles).

Why would a dealer do this? They get two sales out of the deal.... a new lease to you which restarts the clock, and they can sell the used CRV (which has great resale value, particularly one that new).

 

[Curvy2019]

Thanks,

It just came out of the blue. In fact it seemed almost a setup for a scam. Am I being greedy pushing for better value by asking for free service?

 

[waynorth]

I had 6 months left in my 2013 lx awd lease when the service manager (when picking up after a service)told me that my salesman wanted to chat with me . He offered to take me out of my lease and into a new 2016 lx awd with similar toss ins that were offered to sweeten the deal that were presented to me when I leased the 2013 . The big difference however was the lease rate offered was a combo of a current promotion + a honda loyalty program (1% off current lease rate) so when added up the lease rate offered was 0 % which made the payment almost 50 bucks a month cheaper than the 2013 lease . I took a few days to think about it because I was planning on buying out my 2013 when the lease ended because I took good care of it and it was running great .

fast forward to 2019 , I'm in a similar situation(6 months left in that 2016 lease) and have actually dropped a few hints that I'm interested in making a similar deal but the sales rep isnt even biting .

anyways , I dont think either of us were being ripped off Curvy2019 . The salesman saw an opportunity for a win-win situation. For me , a 50 $ difference in lease payment for technically the same vehicle was a no brainer because I enjoy leasing so long as the payment is in my comfort zone .

I do however miss the normal transmission that my 2013 had but I guess those days are over .

 

[BoostedV]

Dealers will email you whether u buy or lease saying they need your car.
Just to get you in the door.

as for your lease, most people dont know you can actually trade your car in as if you own it (to sell) if leasing. If the dealer thinks it can make a profit depending on your are they might even save on thetax

where u lose jumping brands or cars is u might need upfront fees

with honda and acura if u are in a HONDA LEASE andbuy or lease another acura or honda they’ll waive the fees at the end and Double ur damage limits.

with acura if u lease u can roll the miles (if ur under) to ur next lease, and the double damage n fees as above.

 

[Retired Boomer]

Hi all,

...Dealer contacted me this week and is offerring me a 2019 model on a new 4yr lease, at the same current monthly payment, with my current mileage zeroed out...

Sounds like a great deal. Definitely worth investigating, especially given the 40km on your 2018.

But why are they offering such a great lease deal? Maybe they're having trouble selling that particular vehicle because it's a leftover or an unpopular color or trim (e.g., 2WD in the snowbelt).

Or maybe it's a demo or loaner. Check the mileage.

Or maybe it's a previously leased vehicle, and you'd be assuming an existing lease.

And of course, check closely for any repaired damage.