- #548 of 589
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Re: 2010 CRV EX 4WD [blueiedgod]
by bigdadi118
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Oct 28, 2009 (5:35 pm)
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Replying to: blueiedgod (Oct 28, 2009 8:45 am)
After you leased the CRV and you can buy out the car
(1) by yourself if you want to keep
(2) by dealer if you want to switch to another car.
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- #549 of 589
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Re: 2010 CRV EX 4WD [bigdadi118]
by joejoe01
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Oct 29, 2009 (5:50 am)
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Replying to: bigdadi118 (Oct 28, 2009 5:35 pm)
I heard its never a good deal to buy the car after leasing it..... is this true??
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- #550 of 589
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Re: 2010 CRV EX 4WD [joejoe01]
by wallement
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Oct 29, 2009 (7:50 am)
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Replying to: joejoe01 (Oct 29, 2009 5:50 am)
That is definitely not a true statement. You never say never. It depends. When your lease ends, decide if you would like to keep the vehicle. If you would AND the residual buyout is roughly equivalent (or less) than the vehicle value, but it. Otherwise walk away.
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- #551 of 589
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Re: 2010 CRV EX 4WD [joejoe01]
by jayrider
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Oct 29, 2009 (8:22 am)
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Replying to: joejoe01 (Oct 29, 2009 5:50 am)
If you buy your lease you will pay more than if you purchased it. You pay sales tax twice. That is one reason why it's not a great way to buy. The other consideration is that your buyout may be more than the going rate for similar cars. The leasing company rarely negotiates so you have to decide how much your knowledge of the car is worth. Of course sometimes the buyout is way less than market prices so that makes the buyout a better idea. If you are a leaser at heart -- then you won't buy because you want a new ride every 3 years. So never is not accurate.
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- #552 of 589
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Re: 2010 CRV EX 4WD [bigdadi118]
by blueiedgod
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Oct 29, 2009 (9:30 am)
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Replying to: bigdadi118 (Oct 28, 2009 5:35 pm)
After you leased the CRV and you can buy out the car
(1) by yourself if you want to keep
(2) by dealer if you want to switch to another car.
Chances are it will cost more than buying outright in the first place.
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- #553 of 589
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Re: 2010 CRV EX 4WD [jayrider]
by wallement
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Oct 29, 2009 (12:52 pm)
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Replying to: jayrider (Oct 29, 2009 8:22 am)
The sales tax issue is also a "depends"...on your state of residence. I pay sales tax on my lease payments only, and then separately on the buy out, if I choose to purchase.
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- #554 of 589
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Re: 2010 CRV EX 4WD [wallement]
by jayrider
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Oct 29, 2009 (1:06 pm)
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Replying to: wallement (Oct 29, 2009 12:52 pm)
Some states are lease friendly -- some aren't. In Illinois you pay tax on the total purchase price which is a bummer.
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- #555 of 589
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Re: 2010 CRV EX 4WD [jayrider]
by joejoe01
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Oct 30, 2009 (5:16 am)
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Replying to: jayrider (Oct 29, 2009 1:06 pm)
I went with a 42 month lease and the warranty is only good for 36 months. Was it bad I turned down the additional warranty? I really didnt want to add more money to my monthly payment. The dealership actually called and left a message asking a second time if I was sure I didnt want it. Should I just get it for peace of mind?
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- #556 of 589
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Re: 2010 CRV EX 4WD [joejoe01]
by jayrider
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Oct 30, 2009 (5:53 am)
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Replying to: joejoe01 (Oct 30, 2009 5:16 am)
What is the cost of the 6 month warranty or do they charge you for a 2-3 year extension and say you can get a refund when you turn your car in. At 42 months you will also be looking at a set of new tires at turn-in which is a real bummer.
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- #557 of 589
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Re: 2010 CRV EX 4WD [joejoe01]
by blueiedgod
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Oct 30, 2009 (9:17 am)
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Replying to: joejoe01 (Oct 30, 2009 5:16 am)
I went with a 42 month lease and the warranty is only good for 36 months. Was it bad I turned down the additional warranty? I really didnt want to add more money to my monthly payment. The dealership actually called and left a message asking a second time if I was sure I didnt want it. Should I just get it for peace of mind?
The car comes with 3 years/36,000 miles bumper to bumper warranty, and 5 years/60,000 miles power train warranty.
Read The Fine Manual.
If you still decide to purchase the extended warranty, if you are not a resident of FL, you can buy from any of the HondaCare resellers in the Honda extended warranty thread.
But, chances are that you will not need or won't be able to use the extended waranty, since it does not cover maintenance items such as: brakes, tires, belts, fluids, bulbs... and chances of something major, but not covered by the powertain warranty, failing are slim.
The best would be to take the $700 that you would pay for the warranty and set it aside in a separate account. By the time you turn in the vehicle, you are most likely have not needed to tap into that money.
Good luck.
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