I’ve had a loan for MB GLE450e for around 50 months left with around 1k monthly payment with 49 months left.
I’ve sold the car to the dealership and started lease with 590 per months and now I see that buyout is 55k, and during the time I will pay 7500 for rent. So MSRP was 80k
Does it make sense to buyout in the next few months and paying the same amount money for loan for the brand new car?
What’s the APR on the lease?
it’s around 6.65%
Oh I misread it, yeah I’d consider keeping it unless you get a better rate elsewhere
Don’t forget there’s often a buyout fee
It’s not about the “rent charge”. It’s all about the overall lease rate.
I personally would not own a car in this season I would only lease as the manufacturer takes the hit for any added depreciation when your lease has ended.
I spent 10 years managing dealerships and now I’m a financial planner and this is the main reason I lease. You remove the risk of depreciation, as well as if you got in an accident, a dirty carfax (with accident) can affect your trade in value up to 10% or more. I’ve seen it over and over again in my career.
Enjoy the car, when your lease is up and if the buyout makes sense (and you love it), THEN buy it. Statistically, the average car owner gets a new car every 2.5 yrs. Cars are RAPIDLY advancing in technology and innovation. I cannot tell you how many times I heard, “we will keep this car for at least 5-10yrs…” only to see them back in front of me buying another car 2-3 years later.
Hope this helps!
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