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Return or buy a lease car?

Marvell dibbledop

Sep 16, 2021 16 Comments

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Our BMW X3 lease is ending soon. We wanted to lease a Benz or BMW X5 but the prices are high right now due to the chip shortage. One option is to buy out this one instead of leasing a new car. What do you think?

0 16

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TOP 16 Comments

Amazon cffb

Many cars nearing end of lease right now have resale values many thousands more than the residual. Unless you were tricked into a bad lease, it most likely makes sense to buy out your lease in the current market.

Sep 16, 2021 4 3
- Lyft mBfn34
  
  You can get estimates from websites for quote to see if you have equity
  
  Sep 16, 2021 0
- Yardi / Project 🥜 to 🥜🥜🥜
  
  I like to use KBB for estimates and Vroom to have a paper offer to negotiate from. Add 2-3k to what Vroom offers you plus the KBB estimate, and most dealers will give you that for a trade in.
  
  Sep 17, 2021 0
Lyft mBfn34

Did you consider the cost of maintenance past warranty?

Sep 16, 2021 3 0
Uber iFcukuf

Extend the lease as much as possible and then buy and sell it. With this you reduce sales tax and get more bucks by selling it for higher price and spending insane money with markups for 21 and 22 models.

Sep 16, 2021 2 1
- Twitter merricat5
  
  Any chance I can DM you for help? I have a lease ending. There is a 7k delta between buyout and current value
  
  Dec 20, 2021 0
Cisco popopipo

Is leasing a car the same as renting it?

Sep 16, 2021 0 2
- Marvell dibbledop
  OP
  
  Yes!
  
  Sep 16, 2021 0
- Amazon cffb
  
  Yes, and in this crazy auto market it’s something you can end up having equity in at the end of the term.
  
  Sep 16, 2021 0
Palo Alto Networks SeTX64

Buy out first and sell it privately

Sep 16, 2021 0 2
- Marvell dibbledop
  OP
  
  Not much difference in the price
  
  Sep 16, 2021 0
- Palo Alto Networks SeTX64
  
  Depends on your car and mileage. My case is buy out from dealer and sell it privately. I even earn money due to the low mileage and recent car price appreciation.
  
  Sep 17, 2021 0

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Return or buy a lease car?

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