Can use some opinions and help deciding.
Currently have a Chevy Traverse 8,000 miles lease ending in October. This is from the swap of collateral of the Chevy Bolt, so the residual is $20,500. Current value is ~$32,000.
Option A is to buy out the lease and drive it for 2 more years until its out of warranty, and then sell it. The question is what the cost of driving it for 2 more years will be @8k miles a year. Right now I have ~$11.5k of equity should I realize those gains asap and-
Option B sell it to 3rd party and buy a sedan. I dont really need the SUV I’m looking for a reliable car that has the lowest cost of ownership for the next 2 years. If I do go this route I was thinking Toyota Camry or Honda Accord. The question would be do I buy new or used?
Appreciate the help!