Help! I need your advice on my leasing situation

1079 Views 13 Replies 5 Participants Last post by pocketkiller, Oct 11, 2004

masboy

Discussion Starter · Oct 8, 2004

I leased my TSX on Augst 2003. When I started to lease it, I never thought I would have a job 40 miles from my home, that means I spend at least 80 miles/day for going to work. Now my mileage is 18K already, which is not looking good based on the leasing agreement ( max 12K / yr ).

I lease this car for 3 yrs, so the max mileage I could spend is 36K. Now...if everything going alright in my work place, I might spend a lot more than 36K by the end of the leasing period. That means I will definitely exceed the max mileage, and I should pay around 15cent / mileage.

After calculating the mileage, I might end up paying another $5K

Please, I need some advices how to avoid paying $5K for nothing. Is it possible to 'BUY' this car now ? Which means change the agreement paper stuff. Any advice would be appreciated!!!

Thanks a bunch !

Kenneth

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Acura604

· #2 · Oct 8, 2004

after expiration of your lease.. sell it privately for more than the buy out.

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Acura604

· #6 · Oct 8, 2004

i have leased 3 cars in the past..

1999 acura 1.6el.. buyout was $12000...sold it for $16000.

2002 acura RSX.. buyout was $13000... could have EASILY sold it for minimum $17000

and now..

2004 acura TSX.. buyout after lease term is $16000.. this car will EASILY hold it's value to sell for min $20000.

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Acura604

· #9 · Oct 8, 2004

NOTE: am quoting in canadian dollars.

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