Lease Advice for ending term

[christopherrobles323]

Hi I currently have a 2021 Toyota Corolla Hybrid and my lease ends next year in May. I am in Ca. My payments are in the low $300s and want to know if I were to choose to keep the car after my lease ends. Will it increase by a lot? Or would it be better to sell it 3rd party and get another vehicle(possibly RAV4 hybrid)

[jeisensc]

Hard to say based on what you shared here. If you want to read the first post in this thread, share the information listed there, and get third party buyout quotes, that would help people give you better feedback.

“Should I buy out my lease?” super-thread

Edit: since this is now the top of the super thread, moving to “Ask the Hackrs”. When submitting this question, please tell us: if Lease is not with OEM captive bank (eg US Bank, Ally), who and what disposition fee is The residual value and disposition date (when are you supposed to turn it in?) Current payoff — NOT the same as the residual unless you have made the last payment If you have extended your lease, where are you on that timeline? Do you have equity? What would the third parties wo…

[Jeff_BeachCitiesAuto]

If you are trying to keep payments low the Rav4 hybrid would not be the way to accomplish that.

You have a low lease right now so I would just keep it, if you finance the current balance you are subject to present financing rates which are high