I’ve got an 05 Honda Accord with lease payments that are too high for me these days. The 4-year lease is up in about 5 months, but I’m thinking about turning it in early and buying something cheaper (= older, crappier, with higher mileage). Here’s my question: is it better to repair anything that’s wrong with it - a broken side view mirror and a scraped/dented bit from rounding a corner in a parking garage too closely - before I turn it in, or does it end up being cheaper if the dealer charges me for that? What are my other options? Would it be revalued at a lower price because of the body damage when I turn it in?
Read the lease agreement. I’m sure it will have something to say about body damage.
Okay, I am aware that it does. My question is: Are the penalties/repair costs from the dealer generally higher than what a body shop would charge if I repaired the car myself before turning it in (all of it was self-inflicted)?
You’d have to get a couple of estimates to answer that question.
You should discuss it with the lessor after you get the estimates to see what they will charge.
I think most people that lease cars get them repaired before turning them in. The rates for body shop repairs are less than the penalties and fee’s charged when when the car is turned back in.
That side-view mirror depends upon if the entire assembly is broken, or just the glass. Last trip to Mexico, my left mirror got broken glass but the frame/assembly was unmarked. I took it to the place that installed my cracked windshield last year, and they put in new glass for the total sum of $10. Unbelievable.