Advice on end-of-lease options for 2021 CX-30 Premium AWD -w- 9k miles

Ask the Hackrs Buy/Finance
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Hey, folks. I need help deciding what to do with my CX-30 once my lease ends on 10/31/22. I really like driving the vehicle, and I’d be very happy to exercise the purchase option provided in the contract. However, I’m open to other possibilities, especially if they can save me money and/or lower my monthly payment. Relevant details below. I’m especially interested in advice on how to approach a conversation with my dealer about end-of-lease options.Thanks for your help!

2021 CX-30 Premium AWD (Blue)
9000 miles, excellent condition
24-month lease (10k miles per year)
Residual value: $22,600
Monthly lease payment: $350

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Can you extend the lease? It’s just kicking the can down the road but could be an option. I have a Mazda6 I just extended six months for similar reasons.

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$350? Right now leases on Mini SUV’s is about 600 with $0 due

A quick look at Carvana shows 25-27k, so you can probably clear 1-2k which translates to $50/month reduction.

Extend the lease, 6 months if you can.

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9K isn’t even broken in yet…will do 200K easy, so I’d just buy it from Mazda Financial directly. Can sell anytime with low risk.

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What was the MSRP?

Sounds a bit high. You sure?

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Yes, it’s right. Just checked the deal docs to make sure.

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24-month lease right? That could be the explanation. It is through Mazda correct?

Right now, I doubt that second part will be a possibility.

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Yes, 24-month lease. I’m inclined to renew the lease based on the comments folks have left here.

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If you decide to extend the lease:

Make sure your extended payments also reduce the RV by the depreciation amount.

Don’t assume things will be better by the time your extension ends.

Use the time to line up your next move, like a Subaru using VIP pricing or something like that. Order the car or put a deposit on a unit expected to be delivered that month.

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