I’m currently leasing a Mazda CX-5 for 344 a month and I have 11 months left on my lease and according to my offer from carmax I have about 6K equity. I don’t really want to buy the CX-5 after the lease ends. My question is with the market the way it is currently as far as lease deals being kind of expensive, would it be better to just wait more towards the end of the lease and hope that the lease deals improve and see what equity I have then if any or would it better to use some of the equity now towards a different lease now?
I tell people this all the time. If lease deals get better likely your equity will drop. So it’s pretty much a wash. If you want a new car now and you find what you like, then given you have decent equity it’s prob worth buying now.
The people that have waited out the market the last year are now paying more. So each situation is different and hard to predict what will happen. Personally I would take the equity and get something new if it’s in your budget.
I’m Currently leasing a 2021 Mazda CX-5 and I have 7 months left on the lease with a residual of 21,424 which doesn’t include taxes, registration, etc. I’ve received an offer from Carmax for 26k but that’s at my current mileage and not the amount when my lease ends. I’m assuming the offers will be lower than that towards the end. I really like the CX-5 although I do wish I got a different color but would it be a good financial decision to buy it out when the equity will mostly likely just be near or at my at residual amount after taxes, etc? My current monthly payment is 344 so not sure if I can find a car similar with the same features or better features for that amount.
