You are going to have a hard time finding a car within your budget, even with a low mileage allotment.
What car/cars are you interested in?
Merged to avoid repetition and redundancy
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Focusing on low mileage leases isnāt really going to get you across the finish line. There will be options with 10k miles as the lowest option that are way cheaper than another brand thatāll do a 5k mile lease.
Bottom line 7,500 leases are for higher end Benzs, BMWs etc and 5,000 mile leases are for true exotics.
If you donāt drive much why would you spend 300*36 = 10,800 + disposition to drive a 20k car?
Yeah I know. Thatās why decided to go without a car for past year or so. But as much low usage I have, not having a car at all is very inconvenient. Public transport in Seattle is decent but not super connected.
I seriously considered used car but they are not going cheap either. At least the ones that arenāt super old and/or lot of mileage on them. I am not at all handy when it comes to cars so donāt want to risk spending money on maintenance.
Just need reliable set of wheels for minimal usage - running errands, random ad-hoc plans etc without spending too much.
I was thinking if I can get some car (MSRP ~20K) which is not crazy inflated in current market, use it till the market settles down and then return(if lease) or sell it (not expecting much equity since buying at wrong time just hoping low usage might help offset the loss).
Was really hoping the used Leaf 2011 I mentioned couple of posts ago for $4600 would work out but its low range (8 bar) is super risky for my case
Camaro!
Why not just buy a brand new 20k car and hold on to it longer? As long as the longest OEM warranty extension?
Like if youāre $22k OTD and can sell it for $6k in 10 years, thatās only $133 per month in depreciation and taxes.
All thatās left is the cost of financing which depends on how long of a loan you take and the APR. Unless itās 0% APR.
@Jrouleau426 has $300 Tacomas 39/10.
At the end of the lease you will likely get a chuck of your money back.
Thatās a great point. Did a similar calculation regarding the decision of financing Kia Soul. Probably will go that route eventually but just wanted to check if there are any other better options.
Thanks for your insights, gave me further clarity.
Have you looked at a Corolla? You might be better off just financing it, since the lease might not be that appealing.
sorry forgot to answer this earlier. I donāt have any specific ones on mind but generally the ones that satisfy my requirement of MSRP~20K with low APR OR $250-300 lease payment (due to low MF/high residual etc).
Thatās the one I had leased earlier for dirt cheap and now regret returning it. But yeah one of the reasons for not buying off was - moving away from Sedans to SUVs, Hatchbacks. (Itās not a super strict requirement, if I find a very good short term deal though). I know Corolla has those versions too besides Sedan and I am looking at them but almost all Toyota dealers nearby have 2-3K āmarket adjustmentā markups.
Also not much into trucks/ jeeps.
What has your research shown? Any cars that meet those requirements?
Have you trying searching the āMarketplaceā for broker deals near you? You might have some luck with some dealers either having a small markup (less than $3k) or no markup on certain models.
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