benkei

My lease is expiring this month and I'm over my miles. What are my options? I signed up for a 4 year lease with 15,000 miles per year. This means that in total I had 60,000 miles for the 4 years. I'm over by 6,600 miles. The lease contract states I have to pay $0.15 per mile or in my case 6,600x$0.15=$990. My lease is with America Honda Finance Corporation.

I'm buying a new 05 TL, which I have on order and will be purchasing soon (not leasing).

Does anyone know if AHFC will waive the mileage fee? Does anyone have any suggestions for me?

Thanks.

hypertech

Most leases offer you the option of buying the car at the end. Call and find out what your residual payment is (ie what it would cost to buy out the car today), then find out what the trade in would be.

Then, if the number is less than $990, or you could actually get more for it in trade than the residual, you can have the dealership buy it as a trade and work it into teh deal for the new car.

This is most likely your only option other than just turning it in and paying the overage.

etxxz

i'm sure you could do some negotiation, for example tell them you'll buy a new acura if they dismiss this...This people wonderfull things for money...i got (my dad) the '99 on sep 1999 for 26k...with NAVI...0mi

JRA2000TL

He stated before he already had an 05 on order so he can't really use the "I'll buy a new TL if you...." bribe. I agree with hypertech...find out the residual value of the car when you turn it in; then you can make a decision what is best financially for you. If you're considering buying an extended TLC warranty on the new car, throw that in with the negotiation.....you'll buy the warranty from them if they waive the fee or something along those lines. Those warranties are major profit sources for them and you could benefit as well. If the residual on your car is lower than the trade value, you could do like he said and get them to work that in, or buy the car outright and turn around and sell it for a big profit; use the profits to put down on the new car. You have several options really.