This is from Texas, for an Outlander PHEV 2025 SEL Black Edition, Good deal? Thanks!
I guess it depends on what your priorities are. Is the main purpose to bury negative equity (and the car itself doesn’t matter so much?) Or is that you really like the Outlander specifically?
I currently lease one, similar (2023). Dealer offered this, if I do an early return. We like the car a lot, I was actually thinking about a lease buy out of the 2023…
~$600 a month 
How many months left on current lease, what is current buyout, and have you established its market trade in value via any appraisals or online tools (e.g. carvana?).
Would have a very hard time justifying this when other PHEVs are much nicer (and potentially cheaper) (e.g. Mazda CX90 PHEV)
Unless I’m reading the worksheet incorrectly (entirely possible), you are aware that you have negative equity, if you trade in your car now?
Is there a reason why you wish to replace your current car w/ the same car (even if it has a nicer interior and sound system), esp when you like your current car enough to consider a buyout?
Buyout is 30K. I have 4 more payments = 2K. KBB suggests 32K-24K, as this is a premium/fully loaded version.
I’m just looking for the better (cheaper) option: Lease buyout in December, a new lease, or a new purchase? We are totally OK keeping the 2023, as it’s in a great shape.
I don’t understand why you would accept over $4274 in negative equity when your lease payments remaining are only $2k. They should just be able to pay the payments and ground the old lease instead of processing it as a trade. That being said, this might be a situation with multiple lease banks from one lease to another or something as I’m not familiar with Mitsu leasing.
Do you mean 24k-32k or 32-34k? In any case, what does Carvana say? Do you know if Santander allows 3rd party buyouts?
In any case. If you have established that you can get at least buyout OR more and can sell to 3rd party, sure, plenty of good PHEV / EV options which are nicer (IMO) which can be had right now. If, for whatever reason, you are ONLY willing to lease another outlander, then establish your trade’s market value first from a few sources. Not sure how many data points exist on the forum, but you’ll want to put together a target deal which separates out the pre-incentive discount vs rebates vs equity situation.
If you have to roll negative equity, just wait it out. Doesn’t make sense to roll in negative equity, certainly not for an outlander.
I mean $32K - $34K. Caravana does not, neither Carmax.
KBB means little to nothing if you don’t have actual offers on the car.
I’d never lease an Outlander for $600/mo while a much nicer CX-90 is in the 400s…
I assume you mean carvana and CarMax do not buy Santander leases?
Other option to check is if Mitsubishi dealers can buy lease outright (without getting another).
If you can find a dealer to pay buyout or more, previous feedback applies (check out Mazda CX90, or KIA/Hyundai PHEV options)
So were clear, you realize you are rolling in almost $5k negative equity correct? What KBB says is irrelevant, you are rolling that in according to your worksheet.