Quick question about car leasing:

I want to return my lease car (HONDA) about a year and a half early, so I can lease an Acura or another Honda. Do I have to pay some sort of penalty for it? The car is pretty much in perfect condition with extremely low milage.

If i have to pay a penalty, how much it's gonna be?

Thanks,
jim

 

If you return it early, you pay for the remaining balance of it. If you don't have the money to do so, acura will roll your balance into the new car.

ie:

400/month

16 months left.
= 6400.00 balance.


Buy a new RDX. 35K. Add on 6.4K to it. 41.5K is your new price.

 

^^wow, maybe that's not a good idea to return it early then. So there's pretty much no benefit unless i'm deciding just to lease the acura and not buy out. Is that correct?

 

Why not check how much is your BUY OUT PRICE with Honda (check their Honda Finance service website) and compare how much you can get from carmax?

Then you pay the difference.

 

Yup, or sell it privately. You maybe able to even it out the buyout price.