[Paige]

I have a question about a leased car.
I leased a 2022 Honda CRV back in 2022. My lease is coming up this July.

I plan on buying the car because the buy-out is less than $21k, and there are less than 25k miles on it.

I was the only owner/driver, so I know the car. Is this a bad deal? Will I lose money on purchasing the car?

I do really like the car, so I’m not sad about buying it. It seems that car prices are crazy right now, but I just wanted to make sure I’m making the right choice.

[Amanda]

The buyout sounds like itv would be a good deal for you. But I would check the kbb value

[Christine]

I leased one time and bought the car. Zero regrets. Maybe I could’ve gotten a little better deal buying a different one but I knew what I was getting.

I knew it was maintained and reliable with no mechanical issues.

If I was you, paying less than $21k, I would buy the car and drive it for 10+ years.

And don’t lease again. Save for the next one and pay cash.

[Michelle]

I bought out my CRV lease and paid off the loan early. It was a great decision. Three years later, my crv is still running strong.

If I were in your situation on today’s market, I would definitely buy it out.

[Hillary]

I have a 2021 that’s valued a little more than this with 60k miles so it seems like it’d be a good deal but I don’t know what the other fees associated with buying it would be (like what you owed at signing, any other fees they’ve had you pay, and the amount you’ve already paid into it in addition to what you’re paying now.

So, if you were paying 300$ per month for three years =1080, plus what you paid at signing, plus the 21k they’re asking now.

I think that might be the total cost. Maybe ChatGPT would be helpful!

[Christina]

Just buy it. You cannot count pennies for everything in life. You like the car, you can afford it, buy it, move on and enjoy it!

[Patricia]

Compare the same vehicle, year, model, miles and features and see how much it would be and see if the price seems fair or a good deal

[Emily]

Buy it. No question. It’s a great car and a 2018 CRV allowed me to walk away without a scratch from a 4 car highway pile up.

Sometimes saving money means making choice that have the best chance of saving your health and wellbeing too.

[Audrey]

I would buy it if the buyout is close to or less than what it wpuld be to buy the same car.

Usually, Honda is pretty on the mark with their lease buyout prices.

[John]

the mistake was leasing a car. That’s water and money under the bridge. I agree if you know the car and the maintenance history that is worth something.

If you did oil changes at 5000 miles or less and no more than 6 mos that is a compelling reason to keep it.

If you did 10000 intervals or more and over 6 months I would let it go.

[Jim]

Will you lose money purchasing the car versus not having a car?
Absolutely.

Will you lose less money and, critically, have less hassle, than buying another car?

Almost surely.

[Sokoloff]

$21 K is a great deal for the year, miles and condition, even more so if it’s a higher trim than LX.

Are there other fees you have to pay with that?

[Karl]

Cars are depreciating assets but you will do better in the long run by owning versus leasing, assuming you keep your cars for 5-10 years

[Author]

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