My lease contract will finish in 90 days. After three years, my car still looks like new (current mileage:14,912) I am wondering if it is a good idea to buy my leased car instead of leasing a new one.
Term of my current lease: 2018 VW Jetta SE, $189.00/mo for 36 months, 10,000 miles/yr.
To make an informed decision I would like to know the MF and residual on a 2021 Jetta SE. 36 months, 10k miles, ZIP code 22204 VA. Can someone share this info?
Should I buy my leased car or lease a new one?
What’s the cost to buy it out?
What was the market value on Carvana, SHIFT, vroom and/or Carmax? What’s the value on KBB/Edmunds/NADAGuides?
The best place to get this information is from the Edmunds forums.
Missing buyout cost, KBB value, Carvana value.
Don’t the 2018s have the 6 year warranty on them? Might not be a bad idea in all honesty given the current market
In VA do you have to pay sales tax again? @Ursus
Nope, I’m pretty sure. He paid the tax on the full price already.
This is right.
Also taxes change the normal dynamic in Virginia. If you are happy with you car and it is still under warranty it is usually gonna be significantly cheaper to buy it out versus getting a new lease. Even if you only plan on keeping it 1-3 more years.
To get this info go to forum.edmunds.com and search the 21 Jetta Lease Deals and Pricing thread.
I am adding some missing info:
- No sales/use tax paid at lease signing
- Residual value: $11,719.20
- KBB Value: $12,881 – 14,604
- Carvana value: $13,418
- Carmax value: $14,200
Seems like an obvious car to purchase and maybe even keep. Does this 2018 have the 6 year warranty? You could drive it two more years then sell it still under warranty without depreciating too much due to the warranty and mileage. Otherwise selling PP or to Carmax should be worth the effort.
How did you manage that? Of course you paid sales tax, probably rolled in into cap cost.
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