I have a 2011 MDX. I am about 18 months into a 36 month lease.

Is it possble to extend the lease at current payment? If so, how long can the lease be extended for?

Please let me know. Thanks.

 

(800) 708-6555. Monday – Friday, 8:00am-7:00pm, Central Time.

Ask them.

 

Why would you want to do that? At the end of 3 years you want a lease payment to the amount of a new car but you want a 3 year old car?
Assuming that there is no business involved in the lease then the advantage of a lease is that you can get another new car at the end of the lease.If you want to lease the same car for 6 years then you should have bought it.

 

That was exactly my issue. I leased the car because I was not sure I wanted to buy it.

I am trying to decide between buying the car at end of lease or extending the lease. I have another vehicle lease that expires the same time and was hoping to extend another year to buy me some time.

 

If you really like the car, then I suggest buying it after the lease. That would extend you having car payments for a while, but then you would own it instead of paying for a long term "rental."

I suggest just finishing the lease term and create a lease on a the 4th gen MDX. That way you are not leasing a used car for three more years compared to a brand new one for three more years.

I leased my 3rd gen TL for 3 yrs and loved it so much I opted to buy it out at the end of the term instead of upgrading to the 4th gen with a lease. Now that I own the car, I feel like my decision was a smart one. I would no way have extended my lease on the TL because I don't like shelling out money for something I may not own eventually.

Whatever you decide, just make sure it's a financially wise decision.

 

Check the buyout price of your car and as you get closer to the lease enddate, check local car listings for similar cars. You may find you can buy lease out and turn around and sell it for more. This would give you some cash to apply towards a new lease or purchase. This is what I did with my Audi.

 

Yes you can extend the term. I've done it twice on a TSX and Pilot lease, both from Honda Finance. My leases were up at the end of 3 years, but I didn't like the lease deals that were currently out or I was waiting for the new model to be released and lease that one.

I simply called Honda Finance up at the end of my lease and told them I wasn't ready yet and wanted to extend it. They will let you do 2 6 month extensions or 1 1 year extenstion. They fax a new contract to you, sign it and send it back it. The payment stays the same. The allowed mileage is adjusted for another 6 months. You can end it early at whichever month you want, but they need to have a contract with another time period (6 months or 1 year). I did mine for 6 months and then needed to extend my TSX lease another 6 months after that. It might not make sense to some, but it worked for me and was just what I needed at the time.