Advice on lease end of 2019 Mazda CX-5

Hi all. I’m torn and would appreciate some advice. I have a 2019 Mazda CX-5 grand touring lease ending in May. When I got this, my plan was to bridge the gap until I could get an EV but now the market is insane. My lease is 387/month and buyout with tax is about 21k. I have and offer from vroom for 26.5k so I know I have equity.

The only EV that seems reasonable at this time is a Kia Niro which I can get for MSRP with a 8900 lease cash and a dealer inflated .00181 MF where edmunds says it’s .00141. So about 400/month with first payment down. They also offered 25k for my Mazda. I like the car and it fits my lifestyle, I don’t drive much and rarely do long drives so the range and lack of fast charging are not dealbreakers. Mach E, ioniq5 and ev6 seem better but in NJ, I think I need AWD or FWD like the Kia so that puts me at 50k with no incentives and dealer markup.

Should I pull the trigger on the Niro and get my EV that is good enough and pocket 4-5k or should I just hang on to the Mazda and get a loan to hold me over until things cool off?

Any advice is appreciated. Thanks!

Nissan Leaf?

Nothing really excites me about the leaf. Not sure what it is exactly.

No explanation needed… you’re either ok with it, or you’re not :slight_smile:

Bottom line - cheap transportation

How much do u like Niro? vs Mazda?

Loan on Mazda at $20k for 60 month could get to $350is.

Also, shouldn’t Niro be somewhat less with 0 tax and $5k rebate in NJ on fully electric?

I personally would take check for equity and get Niro. That’s the only EV (except for 4xle) that passes through fed rebate that I’ve seen.

I like it about as much as the Mazda but the electric factor makes it win out. I am just more enamored with the newer EVs out there and part of me wants to see if they get more reasonable in the next year. Also the Niro gets a new design later this year. But, again, I don’t drive much so I need to be practical especially with the wife giving me the stink eye if my payment exceeds 400.

No 5k rebate in NJ. That dried up and no telling if it will return.

Here is the calculator.

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Since they are currently your only 2 reasonably priced options, seems like you answered your own question.

Wasn’t aware of that. Sucks.

New cars next year won’t have lease supposed. So are you ready to pay $300 or $400 next year just to drive a new design? Especially if you don’t drive that much? I would get if you were spending hours in the car daily that would matter (to me) but if not. I’d get something now with lease support rather next year with questionable value.

If you don’t drive much I don’t see much benefit of getting an EV.

However if you’re dead set on EV then extend your lease til July for the next fiscal year (July 2022) for the NJ Charge Up rebate.

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