Vehicle advice
#11
(02-09-2021, 09:38 PM)Jerry Towns Wrote: How are you getting stiffed for penalties at the end of a lease?  Dealerships love leases - they get money, amortorize the vehicle, and whether you turn it in or buy it, it's all the same to them.  Honda is the way to go.  My 2006 Civic needs to be replaced, not that there's anything wrong with it besides the rust eating out the bottom.  15 years, 200k miles.  I need another one.

Completely agree.  Leases are only good for certain kinds of people.  I don’t mean this in a pejorative way, but if you drive a lot, don’t “baby” the car, and regularly put it in situations where it can be damaged, you will be hosed.

On the other hand, if you take care of the car in those ways, a dealership will crawl over glass to give you incentives for a new lease so they can buy out your old lease and sell the vehicle used for a nice profit.

That being said, I would recommend having the pre-turn in inspection done, just so you know what damages you will be liable for, and if it makes financial sense to have them fixed.  If it’s too much, it might be better to buy out the lease yourself if you could sell the vehicle as is at your cost.

At any rate, it sounds like the OP just isn’t a good match for leasing.  I’m not a good match for financing.  We all just have to do what holistically makes the most sense for our situations.
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#12
We have an old car that looks like crap. I do all the work on it myself. It has been very reliable and low-cost in every way. In a couple of years we can probably afford a brand new car but I don't want to. It's not worth it at all to me - the same money can be more usefully spent on something else, or why not saved.

Also I would always be a bit nervous to put the children in a car that looks like new. Even without the children, I would be nervous. I prefer having a car that looks like I don't have to baby it.
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#13
I appreciate all of the advice here. It has been helpful. As an update, I wound up just turning in the Silverado and suffering the lease-end fees (around $2500 total, mostly mileage, so its manageable). I did end up having to finance, since I have a repo from last year to pay off.

I wound up getting a used 2010 Honda Pilot Touring for about $9000. It has 180k miles, no noticeable rust, but the valve lifters are a bit noisy, overall its in great shape and the payments are significantly lower than the lease. I have an uncle and a cousin who are both Honda techs and have learned a lot of stuff in the past couple months of repair and maintenance I can do myself too.

[Image: pilot1.jpg]
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