I got a great deal on my fully loaded Jaguar E-Pace SE as a “dealer demo” with less than 100 miles on it. I extended my current lease by 6 months due to how hard it is to find a good deal on a new car in SoCal. My lease will be up at the end of May.
My car only has 8,300 miles on it…and is pristine. I also know from prior Audi leases that this car does not have issues (my last Audi was a LEMON with major electrical issues) so I was thinking of maybe just keeping it…but need some advice on how to proceed as I always traded in my prior leases and used the equity to lower the price of my next car and then negotiated the lease.
My current buyout on the car is $24,500 and I got offers from Shift and Carmax for almost $32,000. In SoCal there does not seem to be many deals on new cars …
The good thing is Jaguar comes with a 5 year 60,000 mile warranty, so I was thinking of purchasing the car to keep for another year as finding another high end car for about $450 a month with $0 down (my current lease payment) seems highly unlikely.
Can anyone let me know if
1- It makes the most sense to just pay for the car in full OR is it better to finance in regards to the sales tax. I do plan on selling it in about a year before the warranty expires.
2- Can I easily just sell the Jaguar or do I have to go through one the lease hackers buyout dealers…I know from when I had my audi I could only sell it back to an Audi dealer within 90 days of the lease end…my lease is through Chase Bank and it says with approval I can have the car bought out.
3 - Any recommendations on buying out a lease verses selling on the open market?
Thank you for any advice! Just trying to figure it out before I have to make a final decision on keeping it or getting a new car.