Is it financially better to continue paying the lease on my 2024 Kia EV6 AWD Technology Package, in NJ, until its end, or to buy it out now?"
Key Information:
Why would you get rid of a sub 300 monthly?
There’s little to no chance that this car will be worth more than its RV by the end of the lease.
Yes, I understand. Now we need to determine how to calculate this tariff. I believe that the prices of used cars also increase.
You have 3 years to evaluate the market and see if it makes sense for you to do so. Given the events of the last 10 years, the landscape won’t be the same as today and none of us know if that will be better or worse for your specific situation.
Buying now could make sense ONLY when your bank would give you a lower interest rate on a used car loan than your current MF is. Which is very unlikely.
Yes, absolutely. I read my contract, and it stated that if you buy out early, you save on rental charges.
His point is that you’re trading an interest rate (rental charge/MF) for another (financing the lease buyout).
Why would you take the risk of a potential increase in car prices at this moment? If the market value goes up, them you take action. Your lease buyout won’t change.