I’m not much of a car guy. My past few cars I generally get new and kept for 3-4 years. I used to put a lot of mileage on my car and then trade to something new before any maintenance issues evolve. I generally break every “car buying rule” possible by buying new and going long term loans to keep the monthly payment lower.
Five years ago, I bought a top trim 2020 Hyundai Sonata that is fine but has some weird aspects that won’t impact the sale price but as a personal preference- I likely won’t buy Hyundai again. My lifestyle changed a few years back and I work from home. My partner has a Subaru Forester that we generally use for any long distance travel.
All that to say, for the first time I’m not underwater on a car. I have about 52,000 miles on it, owe about $8,500 and was quoted a few offers between $16,000-17,000. I pay $450 a month (though my minimum payment is around $350). My car is due for an oil change, will need to be renewed for registration next year and I need to get the engine splash shield replaced for the second time because it’s made out of this stupid fabric material that rips off the bolts if you hit a curb wrong (I know, I know. Be kind).
These impending costs, various impending tariffs, and September being the end of the EV credit gives me the car buying itch. I figured given my buying style and lower mileage, leasing may a good route to go. I’ve always gotten practical sedans but want to get something a little more fun/sporty (not manual). The catch is I’m a pretty big guy so I tend not to fit well in anything smaller than a midsized sedan. I don’t really know what I want, I’ve always wanted an Audi but avoided due to long term ownership costs. Recently tried an BMW i4 and enjoyed it a lot but it was a bit too cramped so they recommended an i5. After working with a broker, I discovered a lease “good deal” on an i5 would be around $700-850. I’m just not sure I can justify going from 450 a month to 800 a month(plus higher insurance). Following the 1% lease rule, I should really be looking at cars at the 55-65k MSRP range I guess but that seems to be a slippery slope where you’re not quite in luxury/fun brand territory unless you go small and base model.
What should I do? Just suck it up and keep my car? Are there other fun and/or sporty cars I should consider? I’d consider going older used but don’t want to lose the technology aspect. Any and all advice welcome.