MA-2019 RAV-4 3/36k end of lease questions

Ask the Hackrs Buy/Finance
1

Hello all,

We leased a great 2019 RAV-4 XLE premium in Ruby red back in September of 2019. We love the car, but were not sure what to do at the end of the lease. We used the help of a lease Hackr broker and scored what I think is a great deal. It was a $33,xxx vehicle, and with 9xMSD’s we got a 3 year 36k mile lease for $285 a month. The residual if I remember correctly is 63%, or roughly $22k . I might be off on those numbers.

With the prices of cars being crazy now and dealer inventory being limited do you think we’d be smart to just buy it out at he end of the lease? The lease ends in September I believe of 2022. We are allowed 36k miles on the lease, but it currently sits around 17k miles which is roughly 8k less than we could be at this point in the lease. The MSD’s equal $2700. My thought is buy it out, even if we decide that a different car might be in our future, as the value of the car will still be pretty high I imagine. What is the smart play here?

Thanks,

Chris

2

No one knows how things will be in Sept 2022.

1 Like
3

You have to make that decision by answering some of these questions:

  1. What are your current needs?
  2. Does this car meet those needs?
  3. If you were to finance it, are you planning to go with a credit union or go with TFS?
  4. If you buy it out, how long do you plan to keep the car?
  5. Do you have any equity in the car? If you do not know, check to see what dealers will offer you for it.
1 Like
4

Replacement car costs are extraordinarily high

What’s the benefit of buying it out now vs waiting to see how things shake out in the next 11 months?

1 Like