Hi everyone, I recently started working in Socal. I currently live in Arizona. I travel a lot back and forth for work. I am looking for a vehicle, something that is going to be able to handle the miles and not kill me in maintenance. I currently have a 2020 QX50 with about 44.5k miles on it. The car is mint as of now, but I know traveling as frequently as I do is going to affect this. I looked at a new Tacoma today as a possible lease. Just wondering what the best course of action is going to be. The trade-in value of the Infiniti is about 18.5k, and I owe 26k. I’m not really worried about the negative. I can pay that off if. Just looking to see if there’s anything out there to help with the negative equity and what you guys would do going forward. I was told that mileage doesn’t really matter at the end of a lease if you are planning to buy it out either way. I figured a Toyota would be the way to go, considering they hold their value so well. Any advice is appreciated. I am happy to do business in either Cali or Az.
How many miles per year are you going to drive? Approximation is fine.
Just spitballing here, probably 20kish.
Skip a lease, and buy a small beater
Just keep what you have. Or something used that gets good gas mileage! Taco would be a bad choice.
Lease won’t really work with that mileage. Also if you want to own the car eventually, usually doesn’t make sense to lease then buyout. Just buy it from the start.
You want new only?
Should do the math on how much getting a more efficient vehicle will help with the driving to offset the cost of a new car. Best financial decision is likely to keep what you have and continue to drive it for a bit longer. I suspect the depreciation curve will flatten a bit relative to your payments unless it’s a crazy long loan.
Keeping your car for at least another year makes more sense in your case.
Please see: Crown Victoria.
Feel free to text me if you go for a Toyota
Jim
215-359-6836
People who say that tend to not understand finance.
Buying/financing on day one generally would have been superior to leasing followed by financing the RV+TTL with a used car loan.