Hello, hopefully this is the correct forum for this, but…I have a summary below if you want to skip the text wall.
I am in a situation where I won’t be going back to the office until 2/21 and even then, it will be limited driving in due to corporate changes in light of COVID19. I have 10 months left on a lease that has my Honda payment at $535, and then insurance is on top of that but anything I buy/lease will have that too so no calculation there. I won’t be driving very much at all, but I am already 29,300 miles so this is a good opportunity for me to get out of my lease early and not pay for a car I won’t be driving much.
I have an offer to sell my car to the dealership I got it from and make about 3k on the deal because my payoff is 3 grand less than they will buy my car for and I walk away with no car and a check. So, let’s say I do that, and want a car that is just transportation for emergencies and general driving if I absolutely have to (emergency is key thought), so I figured maybe I would lease something for as cheap as possible for 24 mos maybe, and hold me over until my situation is clearer. I also thought about buying a 5k CR-V or something but I do like creature comforts and warranty so…figured I would ask here for cheapest options or advice if anyone else is going through this scenario.
Summary:
-COVID19 has me pinned and home for at least 6 months with a $535 a month lease with 10 months to go
-can sell lease car to dealer for $3k equity and walk away
-looking for cheapest lease option in Michigan to keep a car in my driveway for errand (doc, dentist, grocery) driving and emergencies