Quite opposite - they are spot on with their RVs.
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My other worry is I will be over my miles. I already drove 14k miles in 10 months. So hoping I can just sell to carmax eventually to breakeven.
I am updating this. So I am at 15,500 miles within 11 months of my lease. At this rate, I am definitely going to go over.
I looked at buying a cheaper car for under $20k. However, my payoff is $30,750. I have gotten offers from carmax, vroom, an carvana. The highest so far is $27k. I am trying to see what a dealer would give but honestly it is such a hassle.
Do I take the hit or just keep driving and try again in 6 months? Maybe the value and trade in will be closer together. The issue is the longer I wait the more miles I tack on.
You can buy a lot of miles for the $3,750
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Well so I just got an out the door price if I trade my subaru in. It’s a 2016 Volvo S60 w/ 12k miles on it - not certified because it’s at a lexus dealer. It’s $27,500 including md taxes and trade in.
Looks nicer than the Subaru. Thoughts?
That’s a lot of numbers jumbled together. How much is TTL? How much are they giving you for the trade?
Well the car was listed at $24k so taxes/tag/title is about 1900. So that is $25,900.
Maybe i should sell to carmax then get the best negotiated price.
Personally, I don’t think it makes sense to do this. A friend of mine has an S60 that’s out of warranty and just had to spend $2000+ on repairs. The Subaru will be cheaper in the long run. Look into a CPO Lexus ES350. Should be able to get one around $25k
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Yes, i think you are right. This car search started because you can get a new sonata for $15k lol. And now my price keeps increasing…and before you know it I am back at spending $30k.
Basically I want crash collision and considered camry but it’s $25k for a base model and so boring. Hyundai seems good but worried I won’t keep it 5+ years.
You can buy my 2016 S60 Inscription with ~10,500 miles for the same money 
It’s way to much for a 2016 S60. My dealer-friend bought 2016 V60 with 20K for $16K, but it was their trade-in. Also - why does it matter if it’s certified? It’s under warranty and includes free maintenance.
Yea, I guess too many options…like I said I started looking because of a $15k Sonata then realized there is probably a reason they are so cheap.
I guess being upside down complicates the buying process. Maybe its better to ride it out and see what happens. But I will definitely be going over the miles.
Also, what would you do? You seem to have a lot of experience buying cars? Should I wait it out or try to find something used/new under $20k?
Also, have no idea where to start as there are so many options.
How many miles over will you be, and how many cents per mile? I think Subaru is $0.16. Calculate it. Keep in mind that some manufacturers let you buy miles for a discount ahead of time. Check you bill. Divide that amount by the number of months left in your lease. Now you can afford a monthly payment of that amount towards a new car TODAY (just don’t forget to account for insurance registration etc). ie that money will go towards ownership of a new car instead of Subaru, and you can split your drive between the two cars to keep the Subaru within it’s miles. This is provided, of course, that the new car payment will be less than what you are going to owe. It’s up to you to see if the extra convenience of an additional car is worth the $ over what you owe.
For example: You will be over your miles by 20k. 20k * $0.16= $3,200
$3200/11 months = $290/month. That’s a lot. You might just lease another car for $290 and have the convenience of two cars. Or finance a new car and at least you will be paying the money towards a car instead of nothing.
You need to start with a budget, how many miles you plan to drive, what are your priorities in a vehicle, etc etc.
I don’t understand this. Why not just finish the lease, buy the car. If you want to own a car, Subaru is one of the best car to own for long run. Very safe, super reliable and low maintenance. Is there any practical reason this car isn’t fitting your need?
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Essentially, I feel like spending $30k+ plus is kinda a lot. So I spend another $9k or so on the lease and then need to pay taxes all over again to buy- live in MD. My buyout is like $22-23k + taxes. So I will sink more money in over 2+ years and still not own anything.
I guess I was thinking if I could pay $20k now and just own it, that would be better. The trick is getting rid of my Subaru and finding a car under $20k with taxes that I like.
I’d wait. Like I said before, you can’t lose money with Subaru, but it takes time to get out of negative equity and you are only at less than 1 year.
That is very true, I expect to put about 10k more miles between now and end of year. But hopefully the depreciation slows.
I went to carmax when I was at 8k miles and now at 15k and they offered the same price. I’m guessing miles don’t matter a ton for now.
Like with any new car you are taking major hit for the first couple of years, but it’s less painful with Subaru.
Are you sure you will have to pay tax again if you buy? You paid tax on the full price at lease signing.
Yes when I spoke to chase they said my buyout was $30,750 plus tax. Also, now the dealer came back and offered the volvo for $26k out the door with my trade. Not a bad deal as it is S60 T5 R Design w/ nav and blind spot. I may go take a look.
I am going to call chase again to find out. I know I should wait just worried about the mileage because it is a lease.
Chase is probably wrong. Tax is included for anyone else buying it, probably. But I wouldn’t buy a Volvo, if I were you. You will lose way more when you try to sell it. Unless it’s a steal for under $20K. I mentioned before - mine was appraised at $21K by Carmax, so I guess that is the auction value.